BF Utilities Limited announced on March 02, 2026, that it has received communications from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) regarding non-compliance with Regulation 17(1) of the SEBI Listing Regulations, specifically concerning the composition of its Board of Directors and the failure to appoint an Independent Woman Director. As a consequence, both NSE and BSE have levied a fine of ₹2,71,400 each, inclusive of GST, on the company. The company has confirmed that it has paid these fines on March 02, 2026. The due date for payment was March 14, 2026, and there was no delay or default in this regard. The communication from the exchanges was received on February 27, 2026. BF Utilities clarified 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. This action is being taken to comply with Regulation 17 and Regulation 17(1)(c) of the SEBI Listing Regulations, 2015. The company stated that this non-compliance has no material impact on its financials, operations, or other activities.
