SJVN Limited has informed the stock exchanges that BSE and NSE have imposed fines totaling ₹13.44 lakh, including GST, for non-compliance with certain SEBI Listing Obligations and Disclosure Requirements Regulations for the quarter ended June 2026. The company said the compliance gaps stem from delays in appointments that are controlled by the Government of India and that it has requested the Ministry of Power and the Government of Himachal Pradesh to expedite the process.
SJVN Receives Exchange Notices for SEBI LODR Non-Compliance
Total fine payable: ₹13.44 lakh (including GST).
Reporting period: Quarter ended June 2026.
Reader Takeaway: Regulatory issue is governance-related, while resolution depends on government-led director appointments.
What just happened
SJVN Limited has informed the stock exchanges that it received notices from both BSE and NSE imposing monetary penalties for non-compliance with specific provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The aggregate amount payable, including 18% GST, is ₹13.44 lakh.
Why this matters
The penalties relate to deficiencies in board and committee composition during the quarter ended June 2026.
The largest fine pertains to Regulation 17(1) relating to board composition. Additional penalties relate to board meeting quorum, the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee and Risk Management Committee.
Management's explanation
SJVN stated that it is a Government Company under the Companies Act, 2013.
According to the company, appointments of directors are made by the President of India through the Ministry of Power under its Articles of Association. The company said its Board does not possess authority to appoint directors independently.
SJVN added that it has made repeated requests to the Ministry of Power and the Government of Himachal Pradesh for the appointment of the Chairman and Managing Director and Independent Directors so that the company can achieve full regulatory compliance.
Risks to watch
The exchanges have advised that continued non-compliance or failure to pay the fines could attract additional regulatory action.
The company indicated that investors should monitor progress on the appointment of the CMD and Independent Directors, as these appointments are central to resolving the compliance issues.
What to track next
Investors should watch for:
- Appointment of the Chairman and Managing Director.
- Appointment of Independent Directors.
- Restoration of full compliance with SEBI LODR requirements.
- Any further exchange communication regarding governance compliance.