BF Utilities Limited has informed the Exchange about Comments of Board
BFUTILITIE · price
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BF Utilities Limited faced a fine of Rs. 2,71,400 (including 18% GST) from the NSE for non-compliance with SEBI's Listing Regulation 17(1) relating to board composition, specifically the failure to appoint an Independent Woman Director. The NSE issued notices on February 27, 2026, and a final reminder on March 16, 2026, warning that promoter shareholdings would be frozen and trading shifted to the Z category if the company failed to comply or pay the fine within 10 days. In response, the Board, at its March 17, 2026 meeting, noted the non-compliance and announced the appointment of an Additional Non-Executive Independent Woman Director for a 3-year term effective March 17, 2026, subject to shareholder approval by postal ballot. With this appointment, the company has now addressed the root cause of the non-compliance.
The company has now remedied the non-compliance by appointing the required Independent Woman Director, which should help avoid the freezing of promoter holdings and potential Z-category trading restrictions. Shareholders can expect a postal ballot seeking approval for the new director's appointment, and the company will need to clear the outstanding fine to fully close this issue.