NALCO’s board addressed a fine imposed by the stock exchanges for non-compliance with SEBI (LODR) Regulations. The fine, amounting to Rs. 5,42,800/- (including GST), relates to provisions under Regulation 17(1). NALCO clarified that the appointment of directors, the root cause of the non-compliance, rests with the President of India. The company requested the exchanges to waive the fine, citing its status as a CPSE.
Exchange Fine Details
NALCO received a communication dated November 28, 2025, from both BSE and NSE, informing them of a fine of Rs. 5,42,800/- each, inclusive of GST, due to non-compliance with Regulation 17(1) of the SEBI (LODR) Regulations, 2015, for the quarter ended September 30, 2025 (Q2). The basic fine amount is Rs. 4,60,000/-.
Company’s Standpoint
The company clarified that the issue relates to the appointment of directors. NALCO, being a Central Public Sector Enterprise (CPSE), has limited control over director appointments. The authority for appointing directors is vested with the President of India, and the matter has been escalated to the Ministry of Mines.
Board’s Decision
During the 362nd board meeting held on December 9, 2025, the Board of Directors acknowledged the communications from BSE and NSE. They have directed the company to communicate to the exchanges that NALCO is a CPSE and lacks direct control over the appointment of directors. They’re seeking condonement and waiver of the imposed penalties for the quarter ended September 30, 2025 (Q2).
Source: BSE
