RVNL Fined ₹9.66 Lakh by NSE for Board Composition Lapses
Rail Vikas Nigam Ltd (RVNL) has been fined ₹9,66,420 (inclusive of GST) by the National Stock Exchange (NSE) for non-compliance with regulations concerning the composition of its Board and committees for the quarter ended June 30, 2026. The violations pertain to Regulations 17(1), 18(1), & 19(1)(2) of SEBI (LODR) Regulations, 2015. RVNL clarified that as a Government company, the appointment of Directors is vested with the President of India through the Ministry of Railways, and the company 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 past fines have been waived by NSE and BSE.
Key Highlights
- NSE imposes ₹9.66 Lakh fine on RVNL for board composition non-compliance.
- Violation relates to SEBI (LODR) Regulations for Q1 FY27.
- RVNL cites Government control over director appointments.
- Fine waiver expected upon regulatory compliance.
- Past fines for similar issues have been waived.
Price Impact
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