National Aluminium Company Limited has formally responded to regulatory fines imposed by stock exchanges for non-compliance with SEBI regulations. The company's Board of Directors addressed the penalty during their 365th meeting and submitted detailed explanations to both BSE and NSE regarding the compliance issue.

Fine Details and Regulatory Action

The exchanges imposed a fine structure based on non-compliance with SEBI LODR Regulation 17(1) for the quarter ended December 31, 2025:

Board Response and Justification

The Board of Directors convened their 365th meeting on March 6, 2026, to address the regulatory notices dated February 27, 2026. The company submitted its response on March 3, 2026, highlighting several key points:

• Government Control: NALCO operates as a Central Public Sector Enterprise where director appointments are vested with the President of India
• Limited Company Authority: The company lacks control over the appointment process for independent directors
• Compliance Efforts: Continuous engagement with the Administrative Ministry for expedited director appointments
• Waiver Request: Formal application submitted requesting penalty waiver based on circumstances beyond company control

Administrative Escalation

The company has escalated the matter through proper government channels:

Company's Position

National Aluminium Company emphasized that the appointment of independent directors remains beyond its direct control due to its public sector status. The company secretary B.K. Sahu signed the communication to exchanges, reiterating that all director appointments require government approval through established procedures.

The Board advised management to continue engaging with the Administrative Ministry to apprise them of the penalties and request priority consideration for independent director appointments to ensure compliance with both Companies Act 2013 and SEBI LODR Regulations 2015.

Regulatory Compliance Framework

The company maintains that it continuously pursues compliance with statutory requirements despite structural constraints inherent in government-controlled enterprises. The Board's response demonstrates ongoing efforts to balance regulatory obligations with operational realities of public sector governance structures.

National Aluminium Company Limited has announced significant changes in its senior management structure with the promotion of nine executives to Executive Director positions. The company informed stock exchanges about these appointments in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015.

Executive Promotions Overview

The promoted executives bring decades of experience within the organization, with most having joined the company between 1988 and 1994 as trainees and management trainees. These appointments span across critical operational areas including power plant operations, marketing, human resources, smelter operations, and project management.

Key Appointments and Responsibilities

Additional Senior Appointments

The remaining four executives bring specialized expertise in marketing, port operations, and mining operations. Shri Sandeep Darbari was promoted from CGM (Marketing) and handled government coordination and aluminium metal sales in the Northern region. Shri Venkata Subba Rao Amperayani previously served as CGM (PF) managing port facility operations and logistics.

Organizational Strengthening

These promotions represent a strategic move to strengthen NALCO's senior management across key operational verticals. The executives have demonstrated their capabilities in their previous roles, managing critical functions from power generation and mining operations to marketing and human resources. The appointments reflect the company's focus on promoting internal talent and leveraging the extensive experience of long-serving employees who have grown with the organization over the past three decades.