The Exchange had sought clarification from BF Utilities Limited for the quarter ended 31-Dec-2024 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Consolidated Financial Results not submitted The response of the Company is enclosed.
BFUTILITIE · price
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BF Utilities informed exchanges that it received notices from NSE and BSE on March 12, 2025 for not submitting consolidated financial results for the quarter ended December 31, 2024 on time, as required under SEBI Listing Regulations. The delay was caused because two subsidiaries — Nandi Infrastructure Corridor Enterprise Ltd. (NICE) and Nandi Economic Corridor Enterprises Ltd. (NECE) — had not submitted their unaudited results to the parent company. NSE and BSE each levied a fine of Rs. 1,41,600, totaling Rs. 2,83,200. The company paid both fines on March 13, 2025 and stated there is no material impact on its financials, operations, or other activities.
The fine amount is small relative to the company's size and has already been paid, with management confirming no material financial or operational impact. However, this signals a compliance lapse at the subsidiary level and may concern investors monitoring the company's governance and timeliness of financial disclosures.