NLC India Limited has responded to fines imposed by stock exchanges for non-compliance with corporate governance requirements, specifically the composition of its board of directors. The penalties relate to the company’s failure to appoint a woman director during the quarter ending 31st December 2025.
The issue was addressed at a board meeting held on 26th March 2026, where the board acknowledged the actions taken by the stock exchanges. The board noted the fines levied for not meeting the requirements under Regulation 17(1) of the SEBI (LODR) Regulations, 2015. These regulations pertain to the composition of the board, including the mandate to appoint a woman director.
In response, the board has decided to communicate with the Ministry of Coal, which is the administrative ministry overseeing NLC India. The company seeks the ministry’s assistance in appointing the required number of independent directors, including an independent woman director, to ensure compliance with SEBI regulations and avoid future penalties.
This step highlights NLC India’s commitment to addressing the governance issues and aligning with regulatory requirements. The company aims to strengthen its board composition to prevent similar issues in the future.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).