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 regarding board and committee composition for Q4 FY2026. The violation relates to Regulations 17(1), 18(1) and 19(1)(2). RVNL is a government company where director appointments (including independent directors) are made by the President of India through the Ministry of Railways, and the company states it has no role in such appointments. RVNL has clarified to BSE that upon achieving compliance with director composition requirements, it will be eligible for fine waiver as per SEBI policy. The company notes that in previous instances of similar non-compliance, both NSE and BSE have already waived imposed fines.
The fine is relatively small (under Rs 10 lakh) and the company has stated it has no financial impact. The underlying governance issue (board composition) persists as RVNL awaits government appointment of requisite independent directors, but the company expects this to be resolved and fines to be waived.