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Bharat Forge has received fines of Rs. 1,59,300 (incl. GST) each from the NSE and BSE for non-compliance with Board independence requirements for the quarter ended September 30, 2024. The company clarified that it is waiting for necessary approvals from the Department for Promotion of Industry and Internal Trade (DPIIT) after having received the Ministry of Home Affairs (MHA) approval related to the induction of Non-Executive Independent Directors. The company plans to apply to the stock exchanges to condone the fines citing difficulty in compliance due to licensing regulations. The financial impact of these fines is considered negligible on the company's operations and financial health.