SJVN Fined ₹5.43 Lakh by Exchanges for Non-Compliance with Listing Rules
SJVN Limited has been fined ₹5.43 lakh by BSE and NSE for non-compliance with SEBI Listing Regulations for the quarter ending December 2025. The fine is primarily due to issues with Board composition. SJVN has requested government intervention for director appointments and will submit Board comments to the exchanges.
The fine amount of ₹5.43 lakh is relatively small compared to SJVN's overall financial standing, and the issue is related to regulatory compliance rather than core business operations.
The company has incurred fines from stock exchanges due to non-compliance with listing regulations, indicating a negative development.
SJVN Limited has received notices from BSE and NSE imposing fines totaling ₹5.43 lakh (including GST) for non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically for the quarter ended December 2025. The primary non-compliance pertains to Regulation 17(1) concerning the composition of the Board, resulting in a fine of ₹4.60 lakh plus ₹82,800 in GST.
The company's Board of Directors noted these fines and decided to submit comments to the stock exchanges. SJVN Limited, being a Government Company, stated that the appointment of Directors vests with the Ministry of Power and the company/Board has no such powers. They have requested the Ministry of Power and MPP and Power, Government of Himachal Pradesh to expedite the appointment of Independent Directors to ensure compliance with SEBI regulations. The company understands that appointments for CMD, Whole-time Directors, and Independent Directors are expected soon.
The fines are applicable as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. SJVN has been advised to pay the fines within 15 days from the date of the notices. Failure to comply could lead to freezing of promoter's shareholding and, if it's the second consecutive quarter of non-compliance for certain regulations, potential transfer to the Z group and suspension of trading. The company is also required to place these matters before its Board and submit the Board's comments to the exchanges.
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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.