Board Comments on fine levied by the Exchanges
IREDA · price
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NSE and BSE have levied fines totaling Rs. 2,02,960 (including 18% GST) on IREDA for non-compliance with SEBI Listing Regulations for Q4 FY26. The penalties include Rs. 1,30,000 for failure to maintain proper Board composition including appointment of women director, Rs. 10,000 for Board meeting quorum issues, and Rs. 8,000 each for non-constitution of Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee. The Board met on May 29, 2026, noted the compliance gaps, and attributed the delays to pendency with the Ministry of New and Renewable Energy (MNRE) for appointment of Independent Directors. The Board has requested both exchanges to waive the fines and not impose further penalties, claiming the matter is beyond the company's control.
Short-term impact is minimal (Rs 2 lakh fine), but repeated non-compliance could lead to trading suspension or transfer to Z group. The governance gaps in board composition may raise concerns among institutional investors about corporate governance standards.