NLC India Fined ₹28.63L for Board Composition Non-Compliance

Date: 26.08.2026

Regulatory Compliance Disclosure

NLC India Limited has received notices from both BSE Limited and National Stock Exchange of India Limited via email dated 25.08.2026 for non-compliance with multiple SEBI LODR regulations.

Specific Non-Compliances

• Regulation 17(1) - Composition of the Board of Directors
• Regulation 17(2A) - Quorum of Board Meetings
• Regulation 18(1) - Composition of Audit Committee
• Regulation 19(1)/19(2) - Composition of Nomination and Remuneration Committee
• Regulation 20(2)/(2A) - Composition of Stakeholders Relationship Committee
• Regulation 21(2) - Composition of Risk Management Committee
• Failure to appoint Women Director

Financial Penalties

• BSE imposed fine: ₹14,31,340/- (including GST)
• NSE imposed fine: ₹14,31,340/- (including GST)
• Total financial implication: ₹28,62,680/-
• No impact on company operations or other activities

Company Response

The company submitted a waiver request to both exchanges on 26.08.2026 citing the following grounds:

• Being a Government Company, the power to appoint Directors vests with the President of India
• The Ministry of Coal (Administrative Ministry) is being 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