NLC India Limited , a Navratna Government of India Enterprise, has been fined by both the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) for non-compliance with SEBI regulations regarding board composition. The company received notices from both stock exchanges on November 28, 2025, highlighting its failure to appoint a women director as required by Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Fine Details

Company's Response

NLC India has requested a waiver of the fines imposed by both NSE and BSE, citing the following grounds:

1. As a Government Company, the power to appoint Directors on the Board rests with the President of India.
2. The Ministry of Coal (MoC), the Administrative Ministry, has been periodically apprised of the requirement to appoint the requisite number of Independent Directors, including a women director.

The company maintains that the non-compliance was neither attributable to any negligence or default on its part nor within the control of the company's management.

Impact on Operations

NLC India has stated that there is no impact on its operations or other activities due to the imposition of these fines. The total financial implication is limited to the fines imposed by NSE and BSE, amounting to Rs 10,85,600.

Compliance Efforts

The company has been actively communicating with the Ministry of Coal regarding the requirement to appoint Independent Directors, including a women director, to comply with SEBI regulations. However, as a government-owned entity, NLC India's board appointments are controlled by the President of India, which adds complexity to the compliance process.

This incident highlights the challenges faced by government-owned companies in balancing regulatory requirements with their unique governance structures. As investors and regulators continue to emphasize the importance of diverse board composition, it remains to be seen how NLC India and similar entities will address these compliance issues in the future.

NLC India Limited , a 'Navratna' Government of India Enterprise, has made significant strides in expanding its renewable energy portfolio. The company recently announced the successful commissioning of an additional 106 MW capacity as part of its 300 MW solar power project in Rajasthan.

Project Details

Milestone Achievement

The company received the commissioning certificate for the second phase of its solar power project from the Rajasthan Renewable Energy Corporation Limited on November 2. This latest addition marks a significant milestone in NLC India's renewable energy initiatives.

Project Progress

NLC India has been methodically expanding its solar power capacity:

1. The first phase, with a capacity of 52.83 MW, became operational in August.
2. The second phase, adding 106 MW, has now been successfully commissioned.
3. With these two phases combined, the total operational capacity stands at 158.83 MW.

Implications

This development underscores NLC India's commitment to expanding its renewable energy footprint. As the company progresses towards completing the full 300 MW project, it is poised to make a substantial contribution to India's green energy goals.

The successful commissioning of this additional capacity not only enhances NLC India's power generation portfolio but also aligns with the nation's push towards sustainable and clean energy sources. Investors and stakeholders may view this as a positive indicator of the company's execution capabilities and its strategic focus on the burgeoning renewable energy sector.

As NLC India continues to expand its solar power capacity, it will be interesting to observe how this impacts the company's overall performance and its position in India's evolving energy landscape.