BSE and NSE Impose Fines on SJVN Limited Over Board Composition Non-compliance
SJVN Limited has faced fines from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) following non-compliance related to the composition of its Board and various committees. Both exchanges imposed a fine of ₹ 13,44,020/- for the violation.The fines were levied by BSE and NSE following a communication received on August 25, 2026. The non-compliance involved violations pertaining to Regulation 17(1), 18(1), 19(1)/19(2), 20(2)/(2A), 21(2), and 17(2A) of the SEBI Listing Regulations. These violations related to the requirements for the composition of the Board, Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee, specifically citing the absence of the requisite number of Independent Directors on the Board of the Company.
The company noted that there was no impact of these non-compliance matters on its financial, operational, or other activities.
Corrective Measures and Board Compliance
SJVN Limited, identified as a Government Company, is currently pursuing the appointment of the requisite number of Independent Directors with the Ministry of Power (MoP).A key development in addressing the compliance issues was the appointment of Smt. Arti Kujur (DIN: 11834249) as an independent director on the Board, effective July 17, 2026.
The appointment of Smt. Kujur has allowed the relevant committees of the Board to be duly reconstituted, leading to the company becoming compliant with the requirements of Regulation 17(2A), 20(2)/(2A), and 21(2) of the SEBI Listing Regulations.
In light of the compliance achieved, SJVN Limited intends to submit a request to both exchanges seeking a waiver of the aforementioned fines related to the previous non-compliance.
The financial details of the imposition are summarized below:
| Authority | Fine Amount | Date of Receipt of Order |
|---|---|---|
| BSE | ₹ 13,44,020/- | August 25, 2026 |
| NSE | ₹ 13,44,020/- | August 25, 2026 |
SJVN Stock Price Movement
As of 12:37 PM, shares of SJVN Limited are edging higher to ₹66.02 in live trading, gaining 0.24% as the equity moves up from its previous close of ₹65.86. The stock currently trades within a tight intraday range of ₹65.92 and ₹66.46, with a volume count reaching 733,725 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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