Nagarjuna Fertilizers and Chemicals Limited has been penalized Rs 1,00,000 by the Securities and Exchange Board of India (SEBI) for non-compliance with disclosure requirements under the LODR Regulations. The company informed both BSE and NSE about the penalty through a regulatory filing dated March 25, 2026.

SEBI Penalty Details

The penalty was imposed by SEBI's Adjudicating Officer under Section 15A(b) of the SEBI Act, 1992, for alleged non-compliance with specific disclosure regulations. The violation pertains to the company's failure to properly disclose an arbitration award that was passed in favor of an operational creditor.

Regulatory Violations

The specific violations cited by SEBI include non-compliance with multiple regulatory provisions. The company was found to have violated Regulation 30(3) read with Regulation 30(4)(i)(c) concerning disclosure of litigation and disputes, as well as Regulation 4(1)(h) of the LODR Regulations.

SEBI initiated adjudication proceedings in relation to an arbitration award and its disclosure requirements. The company made submissions before the Adjudication Officer, who considered the nature of the violation and determined that the penalty amount was appropriate to serve as a deterrent.

Financial Impact on Operations

The penalty's impact on Nagarjuna Fertilizers and Chemicals Limited is particularly significant given the company's current operational status. The company has discontinued business operations and is not a going concern since June 2024, with no operational revenue.

Consequently, the Rs 1,00,000 fine has a more pronounced effect on the company's finances, given the absence of operational income to offset such regulatory costs.

Regulatory Compliance

The company has fulfilled its disclosure obligations by informing both stock exchanges about the penalty. The notification was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which requires listed entities to disclose material events and information to the exchanges.

Company Secretary Srekanth Chanda signed the regulatory filing, ensuring compliance with the prescribed information requirements under the SEBI Listing Regulations and relevant SEBI circulars.

Nagarjuna Fertilizers & Chemicals has strengthened its board of directors with the appointment of two experienced professionals during a board meeting held on February 14, 2026. The company announced the appointment of Ms. Lalitha Raghuram as Non-Executive Director and Ms. Shilpi Varshney as Independent Director, both effective from February 14, 2026.

Board Appointments Overview

The board meeting concluded at 12:00 Noon on February 14, 2026, with the formal approval of both appointments. The new directors bring diverse expertise spanning social work, healthcare management, and skill development to the company's governance structure.

Ms. Lalitha Raghuram - Non-Executive Director Profile

Ms. Lalitha Raghuram brings substantial expertise in social work and healthcare management to the board. She holds a first-class post-graduate degree in Social Work and a post-graduate qualification in Commerce with advanced accounting and auditing. Her educational credentials also include a post-graduate diploma in personnel management and industrial relations, along with specialized training in community eye health from L.V. Prasad Eye Institute, Hyderabad.

Currently serving as Country Director of Mohan Foundation, Hyderabad, Ms. Raghuram oversees critical functions including:

• Advocacy in organ donation
• Augmenting deceased organ donations
• Expanding the footprint of Mohan Foundation
• Resource mobilization
• Strategic planning
• Government liaison activities

Her previous experience includes serving as Country Director of Operation Eyesight Universal, India from April 2004 to April 2009, where she was responsible for all functions of the international development organization focused on eliminating avoidable blindness. Ms. Raghuram's achievements include receiving the "Womentor" Award in 2018 and the "International Eye Care Hero Award" in 2018.

Ms. Shilpi Varshney - Independent Director Profile

Ms. Shilpi Varshney contributes over 28 years of leadership experience in social impact and skill development. She holds master's degrees in Human Resource Development and English Literature and is currently associated as Director, Projects and Skill Development with the All India Society for Electronics and Computer Technology (AISECT).

Her extensive expertise encompasses:

• Designing and executing large-scale government and CSR-funded skill development programs
• Managing World Bank funded projects with agricultural and rural economy focus
• Farmer-adjacent skilling initiatives
• Rural youth and women employment programs
• Placement-linked capacity building aligned with public policy and CSR mandates

Ms. Varshney has led comprehensive program governance covering strategy, budgeting, implementation, monitoring, and impact reporting under national frameworks such as DDU-GKY and Skill Missions. Her experience also includes ESG-aligned social interventions, community engagement, and responsible growth initiatives, enabling informed board oversight on CSR effectiveness, rural sustainability, and human capital development.

Regulatory Compliance

Both appointees have provided affirmations confirming they have not been debarred from holding director positions pursuant to any SEBI order or other authority in connection with their appointments. The company has fulfilled all regulatory requirements for the board appointments as per applicable regulations.