Date: 28th May, 2026
Regulatory Compliance Disclosure
POWERGRID has received notices from both BSE Limited and National Stock Exchange of India Limited dated 27th May, 2026 regarding non-compliance with Regulation 17(1) of SEBI LODR related to board composition requirements during the quarter ended 31st March, 2026.
Details of Regulatory Action
Authority: BSE & NSE
Nature of Action: Imposition of fine of ₹5,31,000/- (including GST) each by BSE and NSE, totaling ₹10,62,000/-.
Date of Receipt: 27th May, 2026
Details of Violation: Non-compliance with Regulation 17(1) of SEBI LODR regarding composition of the Board for the quarter ended 31st March, 2026.
Financial Impact: Monetary impact of ₹5,31,000/- (including GST) each for BSE and NSE.
Company Response and Mitigation
POWERGRID, being a Government Company under Section 2(45) of the Companies Act, 2013, stated that the power to appoint functional/Official Part-time Directors/Non-Official Part-time Directors (Independent Directors) rests with the President of India.
The matter has been escalated to the Administrative Ministry (Ministry of Power) for filling up the vacant posts of Independent Directors.
POWERGRID has requested waiver of the fine from both BSE and NSE through respective letters dated 28th May, 2026 regarding the non-compliance with Regulation 17(1) of SEBI LODR.