Bharat Dynamics Limited (BDL) has been fined ₹5,42,800 by both BSE Limited and National Stock Exchange of India Limited (NSE) for non-compliance with Regulation 17(1) of SEBI LODR for the quarter ended December 31, 2025. The company received the intimation on February 27, 2026, after office hours. BDL states that it has not paid the fine as the authority for appointing Directors rests with the President of India, acting through the Ministry of Defence, and the Board of BDL has no role in this process. The company intends to seek a waiver for the levied fines, citing impossibility of compliance. BDL anticipates it will continue to be non-compliant with Regulation 17 of SEBI LODR until the Government appoints the requisite number of Independent Directors. The company has clarified that the fine has no impact on its financial, operational, or other activities.
