Fine for the quarter ended 31 March 2026
BDL · price
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Bharat Dynamics, a Defence Ministry PSU, has been fined Rs. 6,96,200 each by BSE and NSE for non-compliance with SEBI LODR regulations (specifically Regulation 17(1), 18 and 19) for the quarter ending March 2026. The non-compliance stems from the company's inability to appoint the required number of Independent Directors, as this authority lies solely with the President of India through the Ministry of Defence. BDL plans to seek a waiver of the fine citing impossibility of compliance. The company clarified that this penalty has no impact on its financial, operational or other activities.
This signals ongoing governance issues at the PSU, though the company claims no financial impact. The penalty is relatively small for a company of this size, and BDL's intent to seek waiver may eventually resolve the matter. However, the persistent non-compliance with board composition rules could remain a regulatory concern until the Government appoints Independent Directors.