SJVN Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange'.
SJVN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
SJVN Limited received fine notices from both BSE and NSE for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The penalty of ₹5,42,800 (₹4,60,000 basic fine plus ₹82,800 GST @18%) relates to Regulation 17(1) — failure to comply with board composition requirements, including not appointing a woman director, for the quarter ended December 2025. The company is a Government CPSE where the power to appoint directors, including Independent Directors, rests entirely with the Hon'ble President of India through the Ministry of Power. SJVN has sent multiple requests to the Ministry of Power and the Himachal Pradesh government to expedite director appointments and expects appointments very soon. The Board noted the fines and approved comments to be submitted to the exchanges.
The fine signals ongoing governance gaps in board composition. While the penalty amount is relatively small for a large CPSE, repeated non-compliance could trigger escalation including transfer to the Z-group and trading suspension. The underlying risk is governance rather than financial.