NFL Board responds to NSE non-compliance notice on Independent Directors

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NFL · price

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₹72.30

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₹72.19

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AI summary

NFL received an NSE notice dated 27 May 2026 flagging non-compliance with SEBI LODR Regulation 17(1) for the quarter ended 31 March 2026, due to shortage of Independent Directors on its Board. The Board, at its meeting on 29 June 2026, noted that the company had already requested NSE and BSE to withdraw the notice and waive the fine, since as a Government undertaking, the appointment of Independent Directors is handled by the Department of Fertilisers. The Board decided to again take up the matter with the DoF for adequate appointments.

Likely market impact

Fines from NSE and BSE may continue till Independent Directors are appointed; company has limited control as DoF handles these appointments.