SJVN Limited has been notified by the National Stock Exchange of India (NSE) and BSE Limited about non-compliance with specific provisions of the SEBI Listing Regulations. Both exchanges have imposed a fine of ₹6,73,780 each, with the notices dated August 29, 2025.
The fines are due to non-compliance with Regulations 17(1), 18(1), and 19(1)/19(2) of the SEBI Listing Regulations. These regulations concern the composition of the Board, Audit Committee, and Nomination and Remuneration Committee, respectively, due to the absence of the required number of Independent Directors on the Board.
SJVN has clarified that it is a Government Company as per Section 2(45) of the Companies Act, 2013, and the authority to appoint or remove Directors rests with the President of India through the Ministry of Power (MoP). The company is actively working with the Ministry of Power to appoint the necessary Independent Directors to comply with SEBI regulations. Following the appointment of the required number of independent directors, the Committees have been duly reconstituted, and the Company is now fully compliant with regulations 18(1) and 19(1)/19(2) of the SEBI Listing Regulations.
SJVN plans to request a waiver of the fine from both stock exchanges related to the non-compliance.
The company does not anticipate any impact on its financial or operational activities as a result of this issue.
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