SJVN Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange '.
SJVN · price
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On the reaction day the stock moved 2.1 pts more than Nifty Midcap 150 and 2.5 pts more than its Power Generation peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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SJVN's Board has responded to fines imposed by NSE and BSE for not meeting certain SEBI Listing Regulations during the quarter ended March 2025. The total fine was about Rs. 9.56 lakh (including GST), mainly for not having the right composition of directors on the Board (Rs. 5.31 lakh) and for delays in setting up the audit committee and nomination & remuneration committee (Rs. 2.12 lakh each). The Board stated that SJVN is a Central Public Sector Undertaking, so the power to appoint directors lies with the President of India through the Ministry of Power, and the company itself has no control over this. The Board noted that the audit and nomination committees have already been reconstituted after independent directors were appointed, making the company fully compliant with those rules. For the Board composition issue, the company has asked the Ministry of Power to speed up the appointment of independent directors, and the government is expected to do so soon.
The fine amount is very small and unlikely to affect the stock price. However, continued non-compliance with Board composition rules could lead to SJVN being moved to the 'Z' group on the exchange and potential trading suspension, which would be a bigger concern for shareholders. The government's expected appointment of independent directors should resolve this issue shortly.