SJVN Ltd received notices from BSE and NSE imposing a total fine of ₹542,800 for non-compliance with SEBI LODR Regulation 17(1) regarding board composition for Q4 FY2026.
The non-compliance stems from the company's failure to appoint the requisite number of independent directors, a power vested solely with the Government of India's Ministry of Power.
The Board noted the fines and decided to submit comments to the exchanges, stating that the government is in the process of appointing a CMD, Wholetime Directors, and Independent Directors soon.
Failure to pay the fine within 15 days could lead to the freezing of the promoter's shareholding and potential transfer to the Z group or suspension of trading.