NCL Industries fined for board committee compliance delays

NCL Industries Limited announced on November 29, 2025, that it has received notices from the National Stock Exchange of India (NSE) and BSE Limited concerning alleged non-compliance or delayed compliance with Regulation 17(1E) of the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015. These notices specifically relate to the constitution of the company's Board committees.

Both the NSE and BSE have levied a combined fine of INR 339,840 (inclusive of GST) on NCL Industries for these compliance issues. The company stated it is in the process of filing a waiver application with both stock exchanges, along with supporting documents, in response to the notices.

The notices were received on November 28, 2025. NCL Industries confirmed that there is no quantifiable financial, operational, or other impact on the listed entity beyond the stated fines.