REC Ltd Board Notes Fine, Seeks Waiver from Exchanges

REC Ltd's Board of Directors has acknowledged a fine levied by stock exchanges for non-compliance with SEBI Listing Regulations concerning the composition of its Board of Directors for the quarter ended March 31, 2026. The Board noted the non-compliance and the imposed fines. They have requested the Ministry of Power to expedite the appointment of Independent Directors, emphasizing that as a Government Company, the appointment power rests with the President of India via the Ministry of Power, not the company itself. Consequently, REC has requested a waiver of the imposed fines, citing its lack of control over director appointments. The filing also details the fine amount of ₹4,50,000 plus GST, totaling ₹5,31,000, and outlines the procedure for requesting a waiver.