Tax & Penalty26 Aug 2026, 11:33 am
REC Fined ₹21.5 Lakhs by NSE & BSE for Governance Lapses
AI Summary
REC Limited has been fined ₹10,77,340 by both the National Stock Exchange (NSE) and BSE Limited (BSE) for non-compliance with Listing Regulations concerning the composition of its Board of Directors and Committees. The non-compliance occurred during the quarter ended June 30, 2026. REC, being a Government Company, states that the appointment of Directors is vested with the President of India, acting through the Ministry of Power, and the company has no direct role in these appointments. The company has been consistently requesting its administrative ministry for the appointment of the requisite number of Independent Directors.
Key Highlights
- REC fined ₹10.77 Lakhs each by NSE and BSE.
- Fines relate to non-compliance in Board and Committee composition.
- Company cites Government Company status for director appointment process.
- REC has no role in director appointments; President of India holds power.
Price Impact
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