SJVN Limited has received notices from NSE and BSE, dated 29 May 2025, regarding fines for non-compliance with certain provisions of the SEBI Listing Regulations.
Both NSE and BSE have imposed a fine of ₹9,55,800 each.
The non-compliance pertains to Regulations 17(1), 18(1), and 19(1)/19(2) of the SEBI Listing Regulations, specifically concerning the composition of the Board, Audit Committee, and Nomination and Remuneration Committee, due to the absence of the required number of Independent Directors.
SJVN Limited is a Government Company, and the power to appoint or remove Directors rests with the President of India through the Ministry of Power (MoP).
The company is actively pursuing the appointment of the required Independent Directors with the Ministry of Power to comply with SEBI Listing Regulations.
The Committees have been duly reconstituted following the appointment of the required number of independent directors, and the Company is now fully compliant with Regulations 18(1) and 19(1)/19(2) of the SEBI Listing Regulations.
SJVN will request the stock exchanges to waive the fine related to the non-compliance.