NLC India Limited has informed the Exchange about General Updates
NLCINDIA · price
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NLC India has received notices from both NSE and BSE dated August 29, 2025, for not complying with Regulation 17(1) of SEBI LODR Regulations, 2015, which relates to the composition of the Board of Directors (specifically the requirement for Independent Directors). Both stock exchanges have imposed a fine of Rs. 5,36,900/- each (including GST), totaling about Rs. 10.74 lakhs. The company has written back to NSE and BSE on August 30, 2025, requesting a waiver of these fines. NLC India argues that as a Government Company (a 'Navratna' PSU), the power to appoint Directors lies with the President of India, and the Ministry of Coal (its administrative ministry) is being regularly informed about the need to appoint Independent Directors. The company states the non-compliance was not due to any negligence or default on its part and that there is no impact on operations or business activities.
The financial impact is very minor — about Rs. 10.74 lakhs in total fines, which is negligible for a company of NLC India's size. However, this highlights an ongoing governance concern about the lack of adequate Independent Directors on the board, which is outside the company's direct control as a government entity. Shareholders should note that this issue may recur until the Ministry of Coal appoints the required Independent Directors.