National Aluminium Company Limited has informed the Exchange regarding 'Comments of Board on the fine levied by the Stock Exchanges.'.
NATIONALUM · price
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NSE and BSE each imposed a fine of Rs. 5,42,800 (including 18% GST) on NALCO for non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015, relating to the quarter ended 30 September 2025. The non-compliance is due to a shortage of Independent Directors on the Board. NALCO, being a Central Public Sector Enterprise (CPSE), has stated that the appointment of Directors lies with the President of India and is beyond the company's control. The Board, at its 362nd meeting on 9 December 2025, took cognizance of the fines and advised the Company Secretary to formally request NSE and BSE to waive the penalties. NALCO has already submitted a waiver application on 5 December 2025 and is actively pursuing the matter with the Ministry of Mines for early appointment of Independent Directors.
This is a procedural compliance matter with a relatively small financial impact (total ~Rs. 10.86 lakh across both exchanges) and is unlikely to materially affect the stock price. Investors should note that the underlying issue — absence of adequate Independent Directors — persists, and the company's ability to get the fine waived depends on the Appointments Committee of the Cabinet, which is outside management's direct control.