Coal India Limited has made a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The company received a notice from the Bombay Stock Exchange (BSE) dated 27.05.2026 regarding non-compliance with various provisions of the SEBI LODR Regulations for the quarter ended 31st March 2026.
Nature of Action
BSE has imposed a fine of ₹5,45,160 (inclusive of GST) for the non-compliance.
Details of Violation
The non-compliance pertains to violations of Regulation 17(1), Regulation 18(1), and Regulation 19(1) & 19(2) of the SEBI LODR Regulations, 2015. These regulations primarily govern corporate governance requirements, including the composition of the board of directors and committees.
Financial Impact
The disclosure explicitly quantifies the financial impact as an implication of ₹5,45,160 (inclusive of GST).
Company's Stance and Rationale
The company states that the non-compliance was neither due to any negligence or default by the company nor within the control of CIL's management. Continuous efforts were made to meet the compliance requirements.
Coal India Limited is a 'Government Company' under the administrative control of the Ministry of Coal, Government of India. As per its Articles of Association, the appointment of all Board Members is done by The President of India, placing this process outside the purview of CIL's management. The company is regularly following up with the Ministry of Coal for the appointment of the requisite number of Independent Directors to its Board.
Previous Action
CIL had requested BSE for a waiver of the penalty, noting that in the past, such waiver requests were considered favorably by the exchanges.
#Tags: #CoalIndia #SEBI #RegulatoryCompliance #BSE #Fine #Governance