Tax & Penalty25 Aug 2026, 08:11 pm
RVNL Fined ₹9.66 Lakh by BSE for Board Composition Lapses
AI Summary
Rail Vikas Nigam Ltd (RVNL) has been fined ₹9,66,420 (inclusive of GST) by BSE Limited for non-compliance with regulations concerning the composition of its Board and committees for the quarter ended June 30, 2026. The company clarified that as a Government company, the appointment of Directors, including Independent and Woman Independent Directors, is vested with the President of India through the Ministry of Railways, and RVNL has no role in this process. RVNL expects a waiver of the fine upon achieving compliance once the Ministry appoints the requisite number of Directors, noting that similar fines have been waived in the past by NSE and BSE.
Key Highlights
- BSE imposed a fine of ₹9.66 Lakh on RVNL for board composition non-compliance.
- The violation pertains to the quarter ended June 30, 2026.
- RVNL attributes non-compliance to the government's role in director appointments.
- A waiver is expected upon achieving regulatory compliance.
- Past instances of fines have been waived by stock exchanges.
Price Impact
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