Coal India Limited (CIL) has been fined ₹5,45,160 by the Bombay Stock Exchange (BSE) for non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fine, which includes GST, was imposed for the quarter ending 31st March 2026.
The notice from BSE, dated 27th May 2026, cited violations of Regulation 17(1), 18(1), and 19(1) & 19(2) of the SEBI LODR Regulations. These regulations pertain to the composition of the board of directors and the appointment of independent directors, among other governance requirements.
Coal India has stated that the non-compliance was not due to any negligence or default on its part, nor was it within the control of the company’s management. The company has been making continuous efforts to comply with the regulatory requirements.
As a government entity under the Ministry of Coal, the appointment of board members at Coal India is conducted by the President of India, which places it outside the direct control of the company’s management. Coal India has been actively engaging with the Ministry of Coal to ensure the appointment of the requisite number of independent directors.
In response to the fine, Coal India has requested a waiver from the BSE, noting that similar requests have been favourably considered in the past.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).