Annual Secretarial Compliance Report for the year ended 31st March, 2026.
RVNL · price
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Rail Vikas Nigam Limited (RVNL) has received its Annual Secretarial Compliance Report from Practicing Company Secretaries Sinha & Srivastava LLP for FY 2025-26. The report identifies multiple non-compliances with SEBI (LODR) Regulations, 2015, primarily related to board composition requirements. RVNL failed to maintain the required number of independent directors and independent woman director on its board for all four quarters of FY 2025-26 (June, September, December 2025, and March 2026). Related committee non-compliances were also noted for Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee. BSE and NSE have levied monetary fines for each quarter of non-compliance. RVNL is a Government Company where director appointments (including independent directors) vest with the President of India through the Ministry of Railways, which limits the company's ability to independently fill these positions. The company states it has repeatedly taken up the matter with the Ministry of Railways for filling vacant posts of Independent Directors.
This is a negative signal for corporate governance. Recurring regulatory fines across all quarters and persistent non-compliance with board composition norms may attract further regulatory action and could impact investor sentiment, though the company attributes delays to government appointment processes beyond its direct control.