Date: 20.07.2026
Board Meeting Outcomes
- The Board meeting was held on 29.06.2026 to discuss NSE Notice no. NSE/L1ST-SOP/COMB/FINES/0611 dated 27.05.2026 regarding non-compliance of Regulation 17(1) of SEBI (LODR) Regulations, 2015 for the quarter ended 31.03.2026
- Board noted that the company had already made a request to both NSE and BSE to withdraw the notices and waive off the fine
- The company explained to the exchanges that it did not have any control on the appointment of Independent Directors
- After detailed deliberations, the Board observed that the company should again take up with the Department of Fertilizers (DoF) for appointment of adequate number of Independent Directors on the Board to ensure compliance with Listing Regulations
Regulatory Compliance Status
- Non-compliance specifically relates to Regulation 17(1) of SEBI (LODR) Regulations, 2015
- The deficiency pertains to inadequate number of Independent Directors on the company's Board
- The company maintains it has no control over the appointment process of Independent Directors
Correspondence Details
- NSE Notice Reference: NSE/L1ST-SOP/COMB/FINES/0611 dated 27.05.2026
- Company Response Letter No: NFLISEC/SE/2254 dated 20.07.2026
- Addressed to: Manager - Listing Compliance, National Stock Exchange of India Limited
No material disclosures under the following sections: Financial Results, Dividend Declaration, KMP Changes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication