BHEL Fined ₹5.37 Lakh Each by BSE, NSE for Non-Compliance

BHEL Faces Penalties from BSE, NSE for Non-Compliance

Bharat Heavy Electricals Limited (BHEL) disclosed that it has received notices from both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) regarding fines levied for non-compliance with SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

The exchanges' notices, dated August 29, 2025, state that each has imposed a fine of ₹5,36,900 (inclusive of GST) on BHEL. The penalties stem from non-compliance with Regulation 17 (1) of the SEBI (LODR) Regulations, 2015, for the quarter ending June 2025. Specifically, the issue concerns the composition of BHEL's Board of Directors, where the number of Independent Directors fell below 50% of the required strength.

BHEL stated it intends to seek a waiver of the fines, citing its status as a Government Company. The company clarified that the appointment of Directors, including Independent Directors, is managed by the Government of India. BHEL further noted that it is actively working with the Government of India to ensure the appointment of the necessary Independent Directors to meet regulatory requirements.