NLC India Limited has received communication from both BSE Limited and National Stock Exchange of India Limited via email dated 27.05.2026 regarding non-compliance with SEBI LODR Regulations. The exchanges imposed fines of ₹5,68,760/- (including GST) each for violations of Regulation 17(1), 18(1), 19(1)/19(2), 20(2)/(2A) and 21(2) pertaining to Composition of the Board of Directors and Composition of Committees including Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee, including failure to appoint a Women Director.
The total financial implication amounts to ₹11,37,520/- (combined fines from both exchanges). The company states there is no impact on operations or other activities due to the imposition of these fines.
In response, the company submitted a letter dated 28.05.2026 requesting waiver of the fines on the grounds that:
- Being a Government Company, the power to appoint Directors vests with the President of India
- The Ministry of Coal (Administrative Ministry) has been periodically apprised of the requirement to appoint requisite number of Independent Directors
- The non-compliance was neither attributable to negligence/default by the company nor within the control of company's management