Rashtriya Chemicals & Fertilizers has appointed Rajnikant Bhulabhai Tandel as an independent director on its board. The company’s Board of Directors approved the move through a circular resolution passed on August 31, 2026.

The appointment is effective from August 31, 2026, for a term of three years or until further orders, whichever is earlier. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Profile

Rajnikant Bhulabhai Tandel holds a Bachelor’s Degree in Commerce and a Bachelor’s Degree in Law from South Gujarat University, Surat. He is a practicing advocate with over 20 years of experience as a tax consultant and in liaisoning activities.

His specialized experience covers VAT, GST, income tax, and industrial consultancy for traders, manufacturers, and other entities. Tandel is also actively involved in social service, providing free legal advice and notary services to school children, economically weaker persons, and senior citizens.

Regulatory Disclosure

The company confirmed that there are no relationships between the directors and the appointee, nor any debarment orders from SEBI or other authorities regarding his office holding. The details were filed with both the BSE Limited and the National Stock Exchange of India Limited.

Rashtriya Chemicals & Fertilizers Ltd ( Rashtriya Chemicals & Fertilizers ) has been penalised a total of ₹15,78,840 by India’s two stock exchanges for regulatory lapses during the quarter ended June 30, 2026.

The National Stock Exchange (NSE) and BSE Limited imposed fines of ₹7,89,420 each on the government-owned chemical and fertiliser maker. The penalties stem from non-compliance with multiple provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Violations

The company received the penalty notices on August 25, 2026. The BSE notice arrived at 7:01 pm, while the NSE communication followed at 9:54 pm on the same day.

The exchanges cited contraventions of the following regulations:

• Regulation 17(1)
• Regulation 18(1)
• Regulation 19(1) and 19(2)
• Regulation 21(2)

These rules govern timely disclosure of price-sensitive information, financial results, and other material events to ensure market transparency.

Company Response

Rashtriya Chemicals & Fertilizers disclosed the action under Regulation 30 of the SEBI LODR framework. The company stated that the financial implication is limited to the fine amounts levied.

It confirmed that it is in the process of filing applications for a waiver of the fines imposed by both exchanges. No operational impact was reported beyond the monetary penalty.

What the Numbers Show

The simultaneous imposition of identical fines by both exchanges highlights a systemic compliance failure rather than an isolated reporting error. With violations spanning four distinct regulations covering disclosures and result filings, the lapse appears procedural across multiple compliance checkpoints for the quarter ended June 30, 2026.