Exchanges Impose Fine on Bharat Coking Coal Limited for Non-Compliance with SEBI LODR Regulations
Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited and a Government of India undertaking, has faced significant financial penalties from both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE). Both exchanges imposed a fine amounting to 7,64,640/- (inclusive of GST) after receiving directions on May 27, 2026.The fines were imposed due to non-compliance with various provisions of the SEBI (LODR) Regulations, 2015, specifically Regulation 17(1), 18(1), and 19(1)/19(2).
The details regarding the imposition of fines by the exchanges are summarized below:
| Authority | Nature of Action | Date of Direction/Order | Violation Details | Financial Impact (inclusive of GST) |
|---|---|---|---|---|
| Bombay Stock Exchange (BSE) | Imposition of fine | 27.05.2026 | Non-compliance of Regulation 17(1), 18(1) and 19(1)/19(2) of the SEBI LODR, Regulations, 2015 | 7,64,640/- |
| National Stock Exchange of India (NSE) | Imposition of fine | 27.05.2026 | Non-compliance of Regulation 17(1), 18(1) and 19(1)/19(2) of the SEBI LODR, Regulations, 2015 | 7,64,640/- |
Company’s Stance on Compliance Matter
BCCL stated that prior to its listing, the company had engaged with SEBI and obtained specific exemptions concerning compliance with applicable provisions of the SEBI (LODR) regulations during the transition from an unlisted to a listed entity. The company also emphasized that any subsequent non-compliance was neither due to negligence nor default on the part of BCCL or its management.As a Miniratna Company and a subsidiary of Coal India Limited, the matter is beyond the direct control of the company, given its status as a Government Company.
The company noted that it has been continuously pursuing this regulatory matter with the Administrative Ministry for Board approval. Furthermore, regarding compliance with the Companies Act, 2013, and SEBI (LODR) Regulations, BCCL is actively engaging with the competent authority to prioritize the appointment of the requisite number of Independent Directors, including Woman Directors, to properly constitute the Board and its various committees.
Management Response to Violations
The non-compliance identified by both exchanges was reviewed by the Board of Directors of BCCL during a meeting held on May 30, 2026. The Board took up the matter with the Ministry of Coal (MoC) regarding the appointment of Independent Directors necessary for compliance with the Companies Act, 2013, SEBI LODR Regulations, 2015, and other applicable rules and regulations.BHARATCOAL Stock Price Movement
Shares of Bharat Coking Coal Limited slipped today, finishing the post-market session at ₹36.65, reflecting a 3.69% decline from its previous close. The stock registered a traded volume of 29.13 million shares during the day.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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