SJVN fined ₹5.42 lakh by BSE & NSE for non-compliance with listing norms
SJVN Limited faces fines of ₹5.42 lakh from BSE and NSE for non-compliance with SEBI listing regulations, particularly regarding board composition for the quarter ended September 2025. The company cited government appointment powers and is awaiting new director appointments. Failure to comply could lead to promoter shareholding freezes or trading suspension.
While the fine amount is relatively small for SJVN, repeated non-compliance could lead to more severe actions like trading suspension, impacting investor confidence and liquidity.
The company has been fined by stock exchanges for non-compliance with listing regulations, which is a negative development.
SJVN Limited has received notices from the National Stock Exchange (NSE) and BSE imposing fines totaling ₹5.42 lakh for non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fines are primarily for non-compliance with Regulation 17(1) concerning the composition of the Board, including the failure to appoint a woman director, for the quarter ended September 2025. The company's Board of Directors noted these fines and decided to submit comments to the stock exchanges.
In their comments, SJVN stated that as a Government Company, the power to appoint Directors vests with the President of India through the Ministry of Power, and neither the Company nor its Board has the power in this matter. The company has made various requests to the Ministry of Power and the MPP and Power, Government of Himachal Pradesh, to expedite the appointment of Independent Directors to comply with SEBI regulations. SJVN understands that the government is in the process of appointing the Chairman and Managing Director (CMD), Whole-time Directors, and Independent Directors soon.
BSE has levied a fine of ₹4,60,000 plus GST of ₹82,800, totaling ₹5,42,800, for non-compliance with Regulation 17(1) for 92 days for the quarter ended September 2025. NSE has also imposed fines for non-compliance with Listing Regulations, with the details to be provided in an annexure. Both exchanges have warned that non-compliance could lead to further actions, including freezing of promoter shareholding and shifting the company to the Z group, potentially leading to trading suspension, if it's the second consecutive quarter of non-compliance for specific regulations. The company is required to pay the fines within 15 days and place the matter before the Board in its next meeting, submitting the Board's comments to the 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 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.