Bharat Dynamics Limited Fined by Stock Exchanges for Non-Compliance

Bharat Dynamics Limited (BDL) has been fined by the National Stock Exchange of India and the Bombay Stock Exchange for non-compliance with certain regulations. The fine, amounting to Rs. 6,36,020/- each (inclusive of GST), was imposed on BDL for the quarter ended 30th June, 2025. The non-compliance issues relate to the composition of the Board, Audit Committee, and Nomination & Remuneration Committee. Despite the fine, BDL continues to be non-compliant with Regulation 17 of SEBI LODR, awaiting the appointment of Independent Directors by the Government.

Key Takeaways:

• Bharat Dynamics Limited (BDL) was fined Rs. 6,36,020/- each by the National Stock Exchange of India and the Bombay Stock Exchange for non-compliance with SEBI LODR regulations.
• The non-compliance issues pertain to the composition of the Board, Audit Committee, and Nomination & Remuneration Committee, citing the authority for appointment of Directors with the President of India acting through the Ministry of Defence.
• BDL continues to be non-compliant with Regulation 17 of SEBI LODR, pending the appointment of Independent Directors by the Government.
• The company has, however, been compliant with Regulation 18 and 19 since April 22, 2025.
• BDL has sought waiver of the fine levied by the stock exchanges due to impossibility of compliance.
• The fine has no impact on the financial, operational, or other activities of the company.

Statistics:

• Fine levied by the National Stock Exchange of India and the Bombay Stock Exchange: Rs. 6,36,020/- each (inclusive of GST).
• Quarter ended: 30th June, 2025.
• Date of compliance with regulation 18 and 19: 22nd April, 2025.
• Regulatory bodies involved: National Stock Exchange of India and the Bombay Stock Exchange.

Sources:

• National Stock Exchange of India.
• Bombay Stock Exchange Limited.
• SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.