IREDA Board Seeks Waiver of Stock Exchange Fines; Cites Government Control Over Director Appointments
New Delhi, September 02, 2026: Indian Renewable Energy Development Agency Limited (IREDA) has informed the stock exchanges about the comments of its Board of Directors on the fines levied by BSE and NSE for non-compliance with certain provisions of the SEBI Listing Regulations related to Board and Committee composition for the quarter ended 30 June 2026.
The Board, at its meeting held on 01 September 2026, noted the status of non-compliance and the fines imposed by the exchanges.
Board’s Observations
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Being a Government Company, the power to appoint Directors is vested with the President of India and is exercised through the Administrative Ministry — the Ministry of New and Renewable Energy (MNRE).
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The Board has requested MNRE to expedite the appointment of the requisite number of Independent Directors, including a woman director.
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The Board has also requested the stock exchanges to waive the fines already imposed and not to levy any further penalty, stating that the matter is beyond the control of the Company and there is no violation on its part.
The disclosure has been made in continuation of the Company’s earlier intimation dated 27 August 2026.
Source: Official communication by Indian Renewable Energy Development Agency Limited (Ref No: CACS/Sectt./efile 8713) dated 01 September 2026.