SJVN Fined ₹26.88 Lakh by BSE & NSE for Listing Norms Violation
SJVN Limited was fined ₹13.44 lakh by both BSE and NSE, totaling ₹26.88 lakh, for non-compliance with SEBI Listing Regulations regarding board composition and committee requirements. The issue stemmed from a shortage of independent directors. Following the appointment of Smt. Arti Kujur as an independent director on July 17, 2026, the company is now compliant and will seek a waiver of the fines.
The company explicitly stated that the non-compliance has no impact on its financial, operational, or other activities. The fines are relatively small in the context of the company's overall operations, and compliance has since been achieved.
The company has been fined by stock exchanges for non-compliance with listing regulations, which is a negative development.
SJVN Limited has announced that it received notices from both BSE Limited and National Stock Exchange of India Limited on August 25, 2026, levying fines for non-compliance with certain provisions of the SEBI Listing Regulations. Each exchange has imposed a fine of ₹13,44,020 for non-compliance with regulations pertaining to the composition of the Board, Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee, as well as quorum requirements for Board Meetings. This non-compliance was attributed to the absence of the requisite number of Independent Directors on the Company's Board.
The company stated that these issues have no impact on its financial, operational, or other activities. As SJVN is a Government Company, the appointment of Directors rests with the President of India, acting through the Ministry of Power. The company has been actively pursuing the appointment of Independent Directors with the Ministry of Power.
Furthermore, SJVN informed that Smt. Arti Kujur (DIN: 11834249) was appointed as an independent director on the Board effective July 17, 2026. Following her appointment, the relevant Board Committees have been reconstituted, and the company is now compliant with the specified SEBI Listing Regulations. Consequently, SJVN will request a waiver of the imposed fines from both stock exchanges.
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 low impact, the band that almost never moves a portfolio on its own.
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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.