BF Utilities Appoints Independent Woman Director, Addresses NSE Compliance Concerns
BF Utilities Limited (BFUL) announced the appointment of an Additional, Non-Executive Independent Woman Director on March 17, 2026. The appointment follows a reminder from the National Stock Exchange of India (NSE) regarding non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically concerning the composition of the Board, including the failure to appoint an Independent Woman Director.The Board of Directors discussed the NSE letters dated February 27, 2026, and March 16, 2026, during a meeting held on March 17, 2026. The newly appointed director will serve for a period of three consecutive years, from March 17, 2026, to March 16, 2029, and their appointment is subject to shareholder approval via postal ballot.
The NSE had previously informed the company that failure to ensure compliance and/or make the payment of fines within 15 days could result in the freezing of promoter holdings. The total fine amount payable, inclusive of 18% GST, is 271,400.
According to the NSE, the company’s non-compliance has led to a total fine of 230,000. A table summarizing the fine details is presented below:
| Regulation | Quarter | Fine amount per day / per instance (Rs.) | Days of Non- compliance / no. of instance | Fine amount (Rs.) |
|---|---|---|---|---|
| 17(1) | 31-Dec-2025 | 5000 | 46 | 230000 |
| Total fine | Total fine | Total fine | Total fine | 230000 |
| GST@18% | GST@18% | GST@18% | GST@18% | 41400 |
| Total Fine payable (Inclusive of 18% GST) | Total Fine payable (Inclusive of 18% GST) | Total Fine payable (Inclusive of 18% GST) | Total Fine payable (Inclusive of 18% GST) | 271400* |
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