NLC India Board Comments on SEBI Governance Fines

Date: 01.07.2026

Board Meeting Outcomes

The Board of Directors discussed the matter of non-compliance with Corporate Governance requirements under SEBI (LODR) Regulations, 2015 at their meeting held on 29th May 2026.

Regulatory Compliance Disclosure

The Stock Exchanges levied fines for non-compliance of Corporate Governance requirements under Regulation 17(1), 18(1), 19(1)/19(2), 20(2)/(2A) and 21(2) of SEBI (LODR) Regulations, 2015 for the Quarter ended 31st March 2026.

Specific non-compliances included:

• Failure to appoint Independent director
• Failure to appoint Women director
• Non-compliance with constitution of Audit Committee
• Non-compliance with constitution of Nomination and Remuneration Committee
• Non-compliance with constitution of Stakeholder Relationship Committee
• Non-compliance with constitution of Risk Management Committee

The Board noted the action taken by the Stock Exchanges involving levy of fines for these non-compliances.

Governance Remediation Action

The Board advised sending a communication to the Ministry of Coal (the Administrative Ministry) to appoint requisite number of Independent Directors, including an Independent Women Director, on the Board of the Company. This action is intended to ensure compliance with SEBI (LODR) Regulations, 2015 and other applicable provisions to avoid imposition of penalty by stock exchanges in future.