Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015-Imposition of fine by BSE for the quarter ended 31st March, 2026.
RVNL · price
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BSE has imposed a fine of Rs. 9,55,800 (inclusive of GST) on Rail Vikas Nigam Limited for non-compliance with SEBI regulations on board and committee composition for the quarter ended March 2026. The violations relate to Regulations 17(1), 18(1) and 19(1)(2) concerning board composition requirements. RVNL has clarified to BSE that it is a government company where director appointments (including independent directors) are made by the President of India through the Ministry of Railways, giving RVNL no control over the process. The company states the fine has no impact on its operations and expects waiver of the penalty upon achieving compliance, citing previous instances where fines were waived.
The financial impact is negligible at under Rs. 10 lakh for a company of RVNL's scale. However, it signals governance issues related to government-controlled board appointments that conflict with SEBI's corporate governance requirements, which could attract further regulatory attention.