SJVN Faces Fines from Exchanges for Board Compliance Lapses
SJVN Limited has been fined ₹13.44 lakh by BSE and NSE for non-compliance with SEBI Listing Regulations regarding board composition and committees. The company cited government control over director appointments and is awaiting the appointment of CMD and Independent Directors. Failure to comply may result in trading suspension.
The fines are significant and non-compliance could lead to further actions like trading suspension, impacting investor confidence and operations.
The company has been levied fines by stock exchanges for non-compliance with SEBI regulations, which is a negative development.
SJVN Limited has received notices from BSE and NSE imposing fines for non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors noted these fines and decided on comments to be submitted to the stock exchanges.
SJVN, a Government Company, stated that the power to appoint Directors vests with the Ministry of Power, and neither the Company nor its Board has any such power. The Company has made several requests to the Ministry of Power and MPP and Power, Government of Himachal Pradesh, to expedite the appointment of Independent Directors to comply with SEBI regulations. It is understood that the government is in the process of appointing the CMD and Independent Directors soon.
The total fine levied by the exchanges amounts to ₹13,44,020 (inclusive of GST @ 18%) as of June 2026 for non-compliance with regulations pertaining to Board composition, quorum, audit committee, nomination and remuneration committee, stakeholder relationship committee, and risk management committee. The company is advised to pay these fines within 15 days, failing which action related to freezing of promoter's shareholding may be initiated. Continued non-compliance for certain regulations could lead to the company being transferred to the Z group and potential suspension of trading.
What to do with a filing like this
SJVN Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by SJVN Limited. Read the original for the full detail.