Date: 26th August, 2026
Regulatory Action Disclosure
POWERGRID has received notices from BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) dated 25th August, 2026 regarding non-compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations.
Details of Action
Authority: BSE & NSE
Nature of Action: Imposition of fine of ₹11,36,340/- (including GST) each by BSE and NSE.
Date of Receipt: 25th August, 2026
Violations: Non-compliance with SEBI LODR Regulations:
- Regulation 17(1)
- Regulation 17(2A)
- Regulation 18(1)
- Regulation 19(1)/19(2)
- Regulation 20(2)/(2A)
- Regulation 21(2)
These violations relate to composition of the Board, quorum for Board meetings, and composition of statutory committees including Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and Risk Management Committee during the quarter ended 30th June, 2026.
Financial Impact: Monetary impact of ₹11,36,340/- (including GST) each for BSE and NSE.
Reason for Non-Compliance
During the quarter ended 30th June, 2026, POWERGRID did not have the requisite number of Independent Directors, which prevented compliance with the aforementioned Regulations.
The company clarifies that as a Government Company under Section 2(45) of the Companies Act, 2013, the power to appoint functional/official Part-time Directors/non-official Part-time Directors (Independent Directors) rests exclusively with the President of India. Therefore, the non-compliance was not due to any lapse on POWERGRID's part.
Remedial Actions
1. The matter has been escalated to the Administrative Ministry (Ministry of Power) for filling up the vacant posts of Independent Directors, including an Independent Woman Director.
2. POWERGRID has written to both BSE and NSE on 26th August, 2026 requesting waiver of the fines regarding this non-compliance.
Other Sections
Not Specified: Financial Results, Dividend Declaration, KMP/Board/Auditor Changes, Board Meeting Outcomes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication