Corporate Governance5 Oct 2026, 04:50 pm
Rail Vikas Nigam Ltd Comments on Exchange Fine for Board Composition
AI Summary
Rail Vikas Nigam Ltd (RVNL) has responded to fines levied by NSE and BSE for non-compliance with SEBI Listing Regulations concerning the composition of its Board of Directors and Committees for the quarter ended June 30, 2026. The company has been in continuous follow-up with the Ministry of Railways regarding the vacancy of Independent Directors, including a woman Independent Director. RVNL has sent multiple reminder letters to the Ministry, emphasizing that as a Government company, it has no role in the appointment of directors. The Board has deliberated and noted the non-compliance and the imposed fines.
Key Highlights
- RVNL fined by NSE and BSE for board composition non-compliance.
- Non-compliance relates to SEBI Listing Regulations for Q1 FY27.
- Company is awaiting Ministry of Railways' action on director appointments.
- RVNL states it has no role in appointing directors as a Govt. company.
Price Impact
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