NLC India Limited — Important, 18-03-2025: General Updates

NLC India has received notices from both the National Stock Exchange (NSE) and BSE regarding non-compliance with several SEBI regulations concerning the composition of its Board of Directors and various committees. As a result, the company faces fines of ₹11,42,240 from each exchange. The company asserts that this compliance issue is not due to management negligence; it stems from the fact that the appointment of directors is controlled by the President of India. Consequently, NLC India has requested a waiver of the fines, noting that the Ministry of Coal is being regularly informed about the need for independent directors. Despite the fines, there is no anticipated impact on the company’s operational activities.