Date: 13.10.2026
Regulatory Compliance Disclosure
National Aluminium Company Limited (NALCO) has received communication from both BSE Limited and National Stock Exchange of India Limited dated 25.08.2026 imposing fines for non-compliance with SEBI (LODR) Regulations, 2015 for the quarter ended 30.06.2026.
Fine Details
- Basic fine amount: ₹12,13,000/- per exchange
- Total fine including GST @18%: ₹14,13,340/- per exchange
- Total financial impact: ₹28,26,680/- (for both exchanges)
- Period of non-compliance: Quarter ended 30.06.2026
Specific Regulation Violations
The non-compliances pertain to provisions under:
- Regulation 17(1)
- Regulation 17(2A)
- Regulation 18(1)
- Regulation 19(1)/(2)
- Regulation 20(2)/(2A)
- Regulation 21(2)
of SEBI (LODR) Regulations, 2015
Company's Response and Justification
NALCO submitted that the non-compliances occurred due to delay in appointment of requisite number of Independent Directors. The company emphasized that:
- NALCO is a Central Public Sector Enterprise (CPSE)
- Authority for appointment of Directors is vested with the President of India
- The Company does not have control over director appointments
- The matter was escalated to the Promoter (Government of India) through Ministry of Mines on 31.08.2026
Board of Directors Action
The matter was placed before the Board of Directors in their 371st meeting held on 25.09.2026 at Bhubaneswar. The Board:
- Took cognizance of the communications from BSE and NSE
- Advised the company to inform the exchanges about NALCO's status as a CPSE
- Recommended that the non-compliances should be condoned as beyond company's control
- Requested waiver of the imposed fines
Ongoing Compliance Efforts
The company continues to follow up with the Administrative Ministry (Ministry of Mines) for early appointment of requisite number of Independent Directors to ensure compliance with Companies Act, 2013 and SEBI (LODR) Regulations, 2015.
Waiver Request
NALCO has formally requested both exchanges to:
- Consider their waiver application submitted on 31.08.2026 favorably
- Condon the non-compliances for quarter ended 30.06.2026
- Waive the imposition of fine totaling ₹14,13,340/- per exchange
Document Certification
The communication is digitally signed by Bharat Kumar Sahu, Company Secretary & Compliance Officer (ACS:9953) of National Aluminium Company Limited.