Power Grid Corporation of India Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
POWERGRID · price
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Power Grid Corporation of India (POWERGRID) received notices from both BSE and NSE on August 29, 2025, imposing a fine of Rs. 8,24,820 each (inclusive of GST) for non-compliance with SEBI LODR regulations during the quarter ended June 30, 2025. The non-compliance related to the composition of the Board (Regulation 17(1)) and four statutory committees — Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee — due to a gap in having Independent Directors on the Board. The tenure of two Independent Directors ended on November 14, 2024, and new Independent Directors were only appointed on April 16, 2025 (two) and May 16, 2025 (one Independent Woman Director), with committees reconstituted around that time. POWERGRID stated that as a Government Company, the power to appoint Independent Directors rests with the President of India, and the matter was taken up with the Ministry of Power. The company has formally requested both exchanges to waive the fine.
The combined fine of approximately Rs. 16.5 lakh from BSE and NSE is financially negligible for a company of POWERGRID's size and is unlikely to affect operations or stock price. The company has sought a waiver, citing that the vacancy was due to government appointment delays beyond its control, so shareholders need not be concerned about governance risk.