Date: 28.10.2026
Regulatory Compliance Disclosure
Engineers India Limited has received fines from both stock exchanges for non-compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Fine Details
- NSE Fine: ₹5,36,900 (inclusive of 18% GST) via letter NSE/USTSOP/COMB/FINES/0954 dated 25.08.2026
- BSE Fine: ₹5,36,900 (inclusive of 18% GST) via email dated 25.08.2026
- Total Fine Amount: ₹10,73,800
- Period of Non-compliance: Quarter ended 30.06.2026
- Regulatory Violation: Regulation 17(1) of SEBI (LODR) Regulations, 2015
Nature of Non-compliance
Non-availability of requisite number of Independent Directors on the Board of the Company, including the requirement for a woman Independent Director.
Board Meeting Discussion
The matter was placed before EIL's Board in its 398th Meeting held on 22.09.2026. The Board noted that:
- As a Public Sector Undertaking, the power to appoint Directors is vested with the Government of India
- The administrative ministry (Ministry of Petroleum and Natural Gas - MoPNG) has been requested to fill up the requisite number of directors
- Parallel requests were made to stock exchanges for waiver of fines
- Stock exchange policy states that waiver of fines would be considered only after achieving full compliance
Company Action
The Board advised the Company Secretary to:
- Pursue the matter with Corporate Affairs Desk, MoPNG
- Apprise the ministry regarding levy of fines by Stock Exchanges
Waiver Request
The company is requesting waiver of the fines for the quarter up to 30.06.2026, citing that the non-compliance is beyond the control of the Company due to the government appointment process.