BSE, NSE fine NTPC, SJVN, REC for non-compliance
The penalties totalling ₹59.14 crore pertain to non-compliance with listing regulations
The National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) have jointly imposed a combined fine of ₹59.14 crore on three public sector power companies - NTPC, SJVN and REC - for failing to comply with listing regulations. NTPC, in a regulatory filing, disclosed that it has received notices from both exchanges, each imposing a penalty of ₹5,36,900 (including GST) for non-compliance with Regulation 17(1) of the listing regulations.
The power giant argued that as a government company, the authority to appoint or remove directors rests with the President of India through the Ministry of Power, and therefore, the imposed fines should be waived. SJVN, meanwhile, stated it will request waiving the ₹13,44,020 fine imposed by both exchanges for breaching SEBI listing regulations.
REC received similar notices from NSE and BSE, each imposing a ₹10,77,340 penalty for non-compliance in the quarter ending June 30, 2026, related to board composition and committee rules. REC, a company that provides long-term loans and financing products to infrastructure projects, is actively collaborating with the Ministry of Power to appoint the necessary independent directors on its board in line with SEBI guidelines.
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