Board Comments on fine levied by the Exchanges
IREDA · price
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IREDA has been fined a total of ₹202,960 (including 18% GST) by both NSE and BSE for non-compliance with SEBI LODR Regulations for Q4 FY26. The main violations relate to board composition (Regulation 17(1)), particularly failure to appoint Independent Directors including a woman director on the Board. Additional fines were levied for non-constitution of audit committee, nomination and remuneration committee, stakeholder relationship committee, and risk management committee. The Board met on May 29, 2026, noted the non-compliance, and attributed it to delays by the Ministry of New and Renewable Energy (MNRE) in appointing Independent Directors. The company has requested both exchanges to waive the fines, arguing the matter is beyond their control. They have 15 days to either pay or seek waiver.
This is a regulatory compliance issue that could escalate to trading suspension if the non-compliance continues for a second consecutive quarter. While the fine amount is relatively small, the governance failures may concern investors and could attract further regulatory scrutiny.