Intimation of Notices received from the stock exchanges under Regulation 30 of the SEBI Listing Regulations
Awaiting price reaction for this filing.
SJVN Limited received notices dated May 29, 2025, from NSE and BSE imposing a fine of ₹9,55,800/- each (total ~₹19.1 lakhs) for non-compliance with SEBI Listing Regulations 17(1), 18(1) and 19(1)/19(2). The violation relates to the absence of the required number of Independent Directors on its Board, affecting the composition of the Board, Audit Committee and Nomination & Remuneration Committee. The company clarified that as a Government Company, appointment of Independent Directors lies with the Ministry of Power and the matter is being actively pursued. SJVN stated it is now fully compliant with the applicable regulations and will apply to both exchanges for a waiver of the fines.
The fine amount is immaterial relative to SJVN's size and financial position, and the company states there is no impact on operations or financials. The underlying issue is government-driven director appointment delays, which is largely outside the company's control; existing shareholders are unlikely to see any meaningful effect on the stock.