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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BSE and NSE each imposed a fine of Rs. 5,42,800 (including GST) on NALCO for non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015, relating to inadequate number of Independent Directors on the Board for the quarter ended 31.12.2025. NALCO has stated that it is a Central Public Sector Enterprise and the appointment of Directors lies with the President of India, meaning the company has no control over the shortfall. The Board, at its 365th meeting on 06.03.2026, took note of the penalty and directed the management to request BSE and NSE to waive the fine. The Chairman-cum-Managing Director has also been advised to approach the Ministry of Mines for early appointment of the required Independent Directors.
The fine amount is small and unlikely to materially affect NALCO's financials. The real issue is governance — the absence of adequate Independent Directors is a compliance gap that could attract further penalties from exchanges in subsequent quarters if not resolved. Shareholders should watch for updates on Independent Director appointments by the Government of India.