BHEL Faces Fines for Non-Compliance with Director Appointment Rules
Bharat Heavy Electricals Ltd (BHEL) has been fined Rs 5,36,900 each by BSE and NSE for failing to appoint the required number of independent directors, per regulatory guidelines. BHEL states its directors are appointed by the government and seeks a waiver for these fines.
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State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) announced on Monday that both BSE and NSE have levied a fine of Rs 5,36,900 each due to non-compliance with legal requirements for independent directors.
BHEL intends to request a waiver of these penalties, emphasizing that director appointments, including independent ones, are decided by the central government. Regular consultations with the government ensure regulatory compliance, the company added.
The firm received notices dated August 29, 2025, indicating penalties for not meeting SEBI's Regulation 17(1) of LODR for Q2 2025 regarding board composition, as independent directors did not constitute 50% of the board's strength.
(With inputs from agencies.)
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