Disclosure under Regulation 30 read with Point 20 (b) of Para A of Part A of Schedule III of Securities and Exchange Board of India ( SEBI ) (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ( Listing Regulations ) Fines imposed by NSE Limited on the Company for the quarter ended on 31st December, 2025
BALMLAWRIE · price
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NSE has imposed a fine of Rs. 6,49,000 (inclusive of GST) on Balmer Lawrie for the quarter ended 31st December 2025. The penalty is for non-compliance with Regulation 17(1) and Regulation 19(1)/19(2) of the SEBI Listing Regulations, because the company's Board of Directors did not have at least 50% Non-Executive Directors, and all members of the Nomination and Remuneration Committee were not Non-Executive Directors between 17th November and 31st December 2025. The company has contested the Regulation 19(2) part, stating the NRC Chairperson was an Independent Director throughout the quarter. Balmer Lawrie, a Government of India enterprise under the Ministry of Petroleum & Natural Gas, has stated that board composition depends on directions from the Administrative Ministry and is beyond its control. It has applied to NSE for a waiver of the fine.
The financial impact is limited to the Rs. 6.49 lakh fine, which is immaterial for a large PSU. The disclosure highlights governance/composition gaps and reliance on government appointments, but no material business or operational impact is expected.