REC Ltd Fined ₹10.77 Lakh for Board Composition Lapses

REC Ltd has been fined ₹10.77 lakh by stock exchanges for non-compliance with SEBI Listing Regulations regarding board and committee composition for the quarter ended June 30, 2026. The company's Board noted the non-compliance and fines, emphasizing that as a Government Company, the appointment of Independent Directors is vested with the President of India via the Ministry of Power. REC requested a waiver of the fines, citing its lack of control over director appointments and urged expedited appointments by the Ministry of Power. The company was also advised on the process for filing a waiver request, which requires achieving compliance first.