BF Utilities Limited Pays Fine for Non-Compliance, Appoints Independent Woman Director
BF Utilities Limited announced the payment of fines to both the National Stock Exchange of India Limited (NSE) and BSE Limited for non-compliance related to the composition of its Board of Directors. The company paid the fines on May 29, 2026, following directives concerning the requirement for appointing an Independent Woman Director.The fines were levied by NSE and BSE for non-compliance with Regulation 17(1) of the Listing Regulations, which pertains to the Board composition.
BF Utilities Limited stated that the fine payment confirmed the company’s commitment to board governance standards. The company resolved the underlying compliance issue by appointing Mrs. Mugdha Vartak as a Non-Executive - Independent Woman Director. This appointment is not liable to retire by rotation and is effective for a period of three consecutive years, spanning from March 17, 2026, to March 16, 2029.
In a detailed payment summary, the company confirmed the following:
| Detail | Value |
|---|---|
| Authorities Concerned | National Stock Exchange of India Limited (NSE) & BSE Limited (BSE) |
| Violation | Non-compliance of Regulation 17(1) of Listing Regulations (Failure to appoint Independent Woman Director) |
| Fine Amount (Each) | Rs. 4,42,500/- (inclusive of GST) |
| Payment Date | May 29, 2026 |
| Payment Status | Paid to NSE & BSE |
The company confirmed that the payment of the fine was completed, with no delay or default in the payment of the penalties.
Regarding the operational status, BF Utilities Limited noted that the actions taken, including the payment and the director's appointment, do not result in any material impact on the company's financials, operations, or other activities.
BFUTILITIE Stock Price Movement
BF Utilities Limited shares today slipped by 0.71% to settle at ₹568.75. The stock traded on a volume of 148,995 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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