Board of Engineers India Limited Reviews Fines Levied by Stock Exchanges
Engineers India Limited (EIL) announced that its Board of Directors reviewed the matter concerning fines levied by the National Stock Exchange of India Limited (NSE) and The BSE Limited regarding board compliance requirements.During a Board Meeting held on March 27, 2026, the Company Secretary informed the Board that both exchanges had levied fines for the quarter ending December 31, 2025.
The Board noted that the National Stock Exchange of India Limited and The BSE Limited each imposed a fine of Rs. 5,42,800/- inclusive of GST @ 18%. The fines were imposed for failure to comply with specific board provisions, attributed to the non-availability of the requisite number of Independent Directors on the Board of EIL during that quarter.
Board Considerations on Appointments
The Board highlighted the corporate structure of EIL, noting that as a Public Sector Undertaking, the power to appoint or change Directors rests solely with the President of India, acting through the Administrative Ministry (MoPNG).For full compliance with the requirements, EIL requires an additional four Independent Directors. The company stated that a request has been sent to the Ministry, and follow-up is underway.
In response to the exchange's query regarding fine waivers, the Board acknowledged that the exchanges advised that any waiver must be dealt with according to their respective policies on achieving full compliance. Consequently, the Board resolved to communicate the matter, including the details of the levy, to the Joint Secretary, Corporate Affairs, MoPNG.
The Board advised the company to formally request the Stock Exchanges to waive the fines for the quarter up to December 31, 2025, citing that the non-compliance was beyond the control of the Company.
The company remains focused on securing the necessary appointments to achieve full board compliance.
ENGINERSIN Stock Price Movement
Today, Engineers India Limited shares settled at ₹228.32, closing higher after gaining 3.63% on the day's trading. The stock saw robust interest, trading on a total volume of 10.36 million shares.Source:
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