Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Imposition of fine by NSE for the quarter ended 31st March, 2026.
RVNL · price
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National Stock Exchange (NSE) has imposed a fine of Rs. 9,55,800 (inclusive of GST) on Rail Vikas Nigam Limited for non-compliance with SEBI (LODR) Regulations 17(1), 18(1), and 19(1)(2) regarding the composition of the Board and its committees for the quarter ended 31st March 2026. The company claims the fine has no financial or operational impact. RVNL is a Government company under Section 2(45) of the Companies Act, 2013, and all Directors (including Independent Directors) are appointed by the Government of India through the Ministry of Railways, leaving RVNL with no discretion in board composition. The company has clarified this to NSE and expects waiver of the fine under SEBI's exemption policy, citing previous instances where NSE and BSE had already waived similar fines.
Minor regulatory penalty with no quantified financial impact. The fine does not restrict operations but signals ongoing board composition compliance gaps in a government-controlled entity.