Tax & Penalty26 Aug 2026, 05:10 pm
Power Grid Fined ₹22.7 Lakhs by BSE & NSE for Board Compliance Lapses
AI Summary
Power Grid Corporation of India Ltd has been fined ₹11,36,340 (including GST) each by BSE and NSE for non-compliance with SEBI LODR regulations concerning board composition, quorum, and statutory committees for the quarter ended June 30, 2026. The company cited a shortage of Independent Directors, a matter that rests with the President of India for appointment. Power Grid has requested a waiver of these fines from the exchanges, highlighting that the non-compliance was not a lapse on its part.
Key Highlights
- Fined ₹11.36 Lakhs by BSE and NSE for SEBI LODR non-compliance.
- Lapses relate to board composition and committee requirements.
- Shortage of Independent Directors cited as the cause.
- Company seeks waiver of fines, attributing issue to appointing authority.
- Financial impact of ₹22.72 Lakhs (total fines).
Price Impact
More from POWERGRID