Disclosure under Regulation 30
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BSE Ltd has imposed a fine of Rs. 5,31,000 on Andrew Yule & Company Ltd for non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015 during the quarter ended 31st March 2026. The non-compliance relates to board composition requirements, specifically the appointment of Independent Directors. As a Central Public Sector Enterprise under the Ministry of Heavy Industries, the company states that appointment powers for Directors rest with the President of India, making it difficult to ensure timely compliance. The company has requested BSE to waive the fine and has escalated the matter to its administrative ministry for resolution.
This fine signals a regulatory penalty for governance non-compliance. While the company attributes the issue to procedural constraints as a CPSE, investors should monitor whether the ministry takes action to appoint the required Independent Directors to avoid further penalties or restrictions.