Date: 27th August, 2026
Board Meeting Outcomes
The Board of Directors discussed the matter at its meeting held on 14th August, 2026.
The Board acknowledged the non-compliance identified by the National Stock Exchange of India Ltd. (NSE) regarding Regulation 17(1) of SEBI LODR Regulations.
The Board noted that the power to appoint Directors on the Board of the Company vests exclusively with the Government of India.
The Board advised the Company to continue following up with the Ministry of Chemicals & Fertilizers for appointment of the requisite number of Independent Directors.
The Board advised the Company to request a waiver of the fines imposed by the Stock Exchange.
Other Operational / Legal / Strategic Disclosures
The fine was imposed by NSE via letter no NSE/LIST-SOP/COMB/FINES/0611 dated 27th May, 2026.
The disclosure is made pursuant to SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.
Based on a notification from the Government of India, two Independent Directors were appointed to the Board on 14.08.2026.
The Company is pursuing with the Government of India for the appointment of more Independent Directors to fulfill the requirements as per the SEBI(LODR) Regulations, 2015.