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Power Firms Fined Rs 59 Lakh for Listing Rule Breach
26 Aug
Summary
- Three public sector power companies fined over Rs 59 lakh by stock exchanges.
- Companies cite presidential power for director appointments in defense.
- NTPC, REC, and SJVN are seeking waivers for the imposed financial penalties.
Stock exchanges BSE and NSE have imposed a combined financial penalty of Rs 59.14 lakh on public sector power companies NTPC, REC, and SJVN. These fines are a consequence of non-compliance with listing regulations concerning board composition.
NTPC reported receiving notices from both exchanges, each levying a fine of Rs 5,36,900. The company argues that director appointments are vested with the President of India, a stance it has communicated to the exchanges.
Similarly, SJVN has been fined Rs 13,44,020 by each exchange. SJVN also stated its intent to request a waiver, emphasizing that the Ministry of Power handles director appointments and is working to comply with SEBI listing regulations.
REC faces fines of Rs 10,77,340 from both NSE and BSE for non-compliance with listing regulations related to board and committee composition during the quarter ended June 30, 2026. REC provides financing for infrastructure assets.
