Date: August 26, 2026
Regulatory Action Summary
SJVN Limited has received notices dated August 25, 2026, from both BSE Limited and National Stock Exchange of India Limited (NSE) under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Nature of Violation
Both exchanges have imposed a fine of ₹13,44,020/- each for non-compliance with multiple provisions of the SEBI Listing Regulations:
- Regulation 17(1): Composition of the Board
- Regulation 18(1): Audit Committee composition
- Regulation 19(1)/19(2): Nomination and Remuneration Committee composition
- Regulation 20(2)/(2A): Stakeholder Relationship Committee composition
- Regulation 21(2): Risk Management Committee composition
- Regulation 17(2A): Quorum requirements of Board Meetings
The violations specifically pertained to the absence of the requisite number of Independent Directors on the Company's Board.
Financial Impact
The company has explicitly stated that these fines will have "No impact" on its financial, operational, or other activities quantifiable in monetary terms.
Remedial Actions and Current Status
The company clarified that as a Government Company under Section 2(45) of the Companies Act, 2013, the power to appoint or remove Directors vests with the President of India acting through the Ministry of Power (MoP).
Smt. Arti Kujur (DIN: 11834249) was appointed as an independent director on the Board effective July 17, 2026. Following her appointment, the relevant Committees of the Board have been reconstituted, and the company states it is now fully compliant with Regulations 17(2A), 20(2)/(2A), and 21(2) of the SEBI Listing Regulations.
Next Steps
The company will submit a request to both stock exchanges for waiver of the imposed fines related to the non-compliance.
Other Sections
Not Specified: Financial Results, Dividend Declaration, Board Meeting Outcomes, Auditor's Report, Disinvestment/Strategic Actions, Media Release/Investor Communication