Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations 2015- Imposition of fine by BSE for quarter ended 31.03.26
COALINDIA · price
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BSE has imposed a fine of Rs. 5,45,160 (inclusive of GST) on Coal India Limited for non-compliance with SEBI LODR Regulations 17(1), 18(1), and 19(1) & 19(2) for the quarter ended March 31, 2026. These regulations relate to board composition requirements, specifically the appointment of Independent Directors. The company has clarified that the non-compliance is not due to any negligence on its part, but because appointment of Board Members is done by the President of India as CIL is a Government Company under the Ministry of Coal. CIL has requested BSE for waiver of the penalty and notes that similar waiver requests were favorably considered in the past.
The fine amount is relatively small for a company of Coal India's scale and is unlikely to have material financial impact. However, it highlights an ongoing governance issue regarding board composition. The company's request for waiver may succeed based on past precedents, reducing the reputational impact.