BSE, NSE charges fine of Rs 14.19 lakh on IREDA regarding non-compliance provision

State-run Indian Renewable Energy Development Agency Ltd. (IREDA) has informed that the company has received notices dated August 25, 2026, from National Stock Exchange of India Limited and BSE Limited regarding noncompliance with certain provisions of the Listing Regulations pertaining to the composition of the Board of Directors and committees thereof and has imposed a fine of Rs 1,419,540/- (inclusive of GST) each by NSE & BSE for such noncompliance.

According to the exchange filing, it is submitted that IREDA, being a government company and as per its Articles of Association, has the power to appoint directors on the board of the company vested with the President of India acting through its administrative ministry, i.e., the Ministry of New and Renewable Energy, Government of India, and the company has no role in the appointment of directors.

The matter of imposition of fines by the stock exchanges and non-compliance with the listing regulations is being placed before the board of directors.

Further, the company has been consistently pursuing the matter with MNRE for the appointment of the requisite number of independent directors on the board of the company to ensure compliance with the above-said regulations.

Indian Renewable Energy Development Agency Limited is an Indian public sector enterprise that provides financial assistance and other services to projects related to renewable sources of energy and energy efficiency/conservation.