BF Utilities Limited has disclosed that it paid a fine of ₹2,71,400 each to the National Stock Exchange of India Ltd. (NSE) and BSE Limited (BSE) for non-compliance with Regulation 17(1) of the SEBI Listing Regulations concerning the composition of its Board, specifically the failure to appoint an Independent Woman Director. The company received emails from NSE and BSE on February 27, 2026, regarding this non-compliance. BF Utilities Limited stated that it is actively in the process of identifying a suitable candidate with integrity, expertise, and experience to fill the vacancy left by the resignation of an Independent Woman Director, aiming to comply with Regulation 17 and 17(1)(c) of the SEBI Listing Regulations, 2015. The total fine paid amounts to ₹5,42,800 (₹2,71,400 to each exchange), inclusive of GST. The payment was made on March 02, 2026, well before the due date of March 14, 2026. The company clarified that there was no delay or default in the payment of these fines. The announcement also emphasized that this situation has no material impact on the company's financials, operations, or other activities.
