Rashtriya Chemicals and Fertilizers Limited has received notices from the National Stock Exchange of India Limited and BSE Limited dated May 27, 2026, for non-compliance with the provisions of Regulation 17(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations for the quarter ended March 31, 2026. RCF disclosed this development to the exchanges through a regulatory filing.
Both stock exchanges have imposed a fine of Rs 5,31,000 each on the fertilizer company. The total financial impact of the penalties is Rs 10,62,000. The non-compliance relates to the composition of the board of directors, which under Regulation 17(1) requires a minimum number of directors and a specified ratio of independent directors.
RCF has confirmed that it is in the process of filing applications seeking waiver of the fines levied by both NSE and BSE. RCF received the BSE communication on May 27, 2026 at 17:03 hours and the NSE communication at 20:33 hours on the same day. The notices were issued by the stock exchanges for non-compliance during the quarter ended March 31, 2026.
The disclosure to the exchanges was made under Regulation 30 of SEBI LODR, which mandates listed entities to inform stock exchanges of any action initiated or orders passed against them. RCF provided the details in compliance with sub-para 20 of Para A of Part A of Schedule III of the regulations. The annexure to the filing included the name of the authority, nature of action, date of receipt, details of the violation, and the quantifiable financial impact.
RCF is a Central Public Sector Enterprise under the administrative control of the Department of Fertilizers, Ministry of Chemicals and Fertilizers. RCF's equity shares are listed on both BSE Limited and the National Stock Exchange of India Limited under the symbol RCF. The scrip code on BSE is 524230 and the ISIN is INE027A08028.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.