12:02
State-owned aluminium producer National Aluminium Company (Nalco) has been fined Rs 28.62 lakh by the National Stock Exchange (NSE) and the BSE for failing to comply with multiple corporate governance requirements under the Securities and Exchange Board of India's Listing Obligations and Disclosure Requirements (LODR) Regulations.
Both exchanges have imposed a penalty of Rs 14.31 lakh each, including 18 per cent GST, for non-compliances during the quarter ended June 30, 2026.
The notices, received by Nalco, cites violations of Regulations 17(1), 17(2A), 18(1), 19(1)/19(2), 20(2)/(2A) and 21(2) of the Sebi LODR Regulations, 2015.
The provisions cited by the exchanges cover various requirements relating to the composition and functioning of the board, putting the spotlight once again on the difficulty public sector enterprises face in maintaining board structures.
In a regulatory filing, Nalco said it is in the process of representing its position regarding the identified non-compliances.
-- Hemant Kumar Rout, Business Standard
