SJVN Fined ₹6.73 Lakh Each by NSE & BSE for Board Composition Non-Compliance, Company Seeks Waiver
The monetary fine of ₹6,73,780/- each (totaling ₹13,47,560) is minor for a company of SJVN's size. The company explicitly stated 'No impact' on its financial, operational, or other activities, and is pursuing a waiver.
The company received fines for non-compliance but has stated no financial or operational impact, is actively working with the Ministry of Power to appoint independent directors, has already reconstituted committees to achieve partial compliance, and plans to seek a waiver for the fines. This indicates a proactive approach to resolve the issue, balancing the initial negative news of a fine.
* SJVN Limited received notices on August 29, 2025, from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE). * Both NSE and BSE have imposed a fine of ₹6,73,780/- each on SJVN. * The fines are for non-compliance with Regulations 17(1), 18(1), and 19(1)/19(2) of the SEBI Listing Regulations. * The violation relates to the composition of the Board, Audit Committee, and Nomination and Remuneration Committee due to the absence of the requisite number of Independent Directors. * SJVN has stated that there is no impact on its financial, operational, or other activities. * The company, being a Government Company, notes that the power to appoint or remove Directors, including Independent Directors, lies with the President of India through the Ministry of Power. * SJVN is actively pursuing the appointment of Independent Directors with the Ministry of Power to ensure full compliance. * The Audit Committee and Nomination and Remuneration Committee have been reconstituted and are now compliant with Regulations 18(1) and 19(1)/19(2) respectively. * SJVN will submit a request to both stock exchanges for a waiver of the imposed fines.
What to do with a filing like this
SJVN Limited filed this with the NSE as a statutory disclosure, categorised under 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.