Coal India Limited has received a regulatory notice from the Bombay Stock Exchange (BSE) imposing a monetary penalty for non-compliance with board composition requirements during the third quarter of FY26.

Regulatory Action Details

The BSE issued a notice dated 27.02.2026 regarding non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 for the quarter ended 31st December 2025. The exchange has imposed a fine of Rs 5,42,800 (inclusive of GST) on the Maharatna company.

Company's Position on Non-Compliance

Coal India Limited has emphasized that the non-compliance was neither due to negligence nor default by the company, nor was it within the control of CIL's management. The company has made continuous efforts to meet the compliance requirements throughout the period.

As a Government Company under the administrative control of the Ministry of Coal, Government of India, Coal India operates under specific constraints regarding board appointments. According to the company's Articles of Association, all Board Members are appointed by the President of India, placing such appointments outside the purview of CIL's management.

Remedial Measures and Follow-up Actions

The company is actively pursuing resolution of the compliance issue through multiple channels:

• Regular follow-up with the Ministry of Coal for appointment of requisite number of Independent Directors
• Request submitted to BSE for waiver of the imposed penalty
• Historical precedent of favorable consideration of waiver requests by exchanges

Financial Impact

The regulatory action has resulted in a direct financial implication of Rs 5,42,800 (inclusive of GST) for the company. This amount represents the monetary penalty imposed by BSE for the board composition non-compliance during Q3FY26.

The disclosure was made under Regulation 30 of SEBI LODR 2015, with the company providing comprehensive details of the regulatory action as required under the applicable provisions. Coal India continues to work toward ensuring full compliance with all listing obligations while managing the constraints inherent in its status as a government-controlled entity.

Coal India Limited has announced the cessation of Independent Director Shri Ghanshyam Singh Rathore upon completion of his tenure, effective March 1, 2026. The Maharatna company informed both the Bombay Stock Exchange and National Stock Exchange of India about this corporate governance development through a formal regulatory filing.

Regulatory Compliance and Filing Details

The intimation was filed pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the Securities and Exchange Board of India regulations. The company also complied with SEBI Circular No. SEBI/HO/CFD/CFD-PoD1/P/CIR/2023/123 dated July 13, 2023, providing all required details in the annexure.

Corporate Governance Transition

The cessation represents a routine corporate governance transition, with the director completing his prescribed tenure rather than resigning or being removed from the position. Coal India Limited's Executive Director (Company Secretary) and Compliance Officer B. P. Dubey signed the regulatory filing, ensuring proper documentation of the directorial change.

Company Information

Coal India Limited, headquartered in Kolkata with its registered office at Newtown, Rajarhat, operates as a Maharatna company under the Government of India. The company maintains its corporate secretariat at Core-2, Premises no-04-MAR, Plot no-AF-III, Action Area-1A, and continues to fulfill all regulatory obligations related to board composition and corporate governance standards.

The filing confirms that all required disclosures have been made to stock exchanges, maintaining transparency in corporate governance matters as mandated by securities regulations.