STOCKWATCH

SJVN Ltd. Faces Fines and Cautionary Letters from Stock Exchanges

SJVN Ltd. has received notices from the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) imposing fines for non-compliance with certain provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has also received cautionary letters for delayed intimation of an analysts/institutional investors meeting. The Board has observed that the power to appoint Directors vests with the President of India, and has requested the Ministry of Power, Government of India to expedite the process of appointment of Independent Directors. Appropriate steps have been initiated internally to prevent future delays in disclosures.

• SJVN Ltd. has been fined by NSE and BSE for non-compliance with certain provisions of the SEBI Listing Regulations.
• The company has also received cautionary letters from NSE and BSE for delayed intimation of an analysts/institutional investors meeting.
• The Board has observed that the power to appoint Directors vests with the President of India.
• The company has requested the Ministry of Power, Government of India to expedite the process of appointment of Independent Directors.
• Appropriate steps have been initiated internally to prevent future delays in disclosures.