NTPC Gets ₹31.03 Lakh Fine Waiver from BSE and NSE Under SEBI LODR Regulations
Mumbai, February 18, 2026: NTPC Limited has received approval for waiver of fines aggregating to ₹31,03,400 levied by BSE Limited for non-compliance under various provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).
The fines were imposed from time to time due to non-availability of the requisite number of Independent Directors on the company’s Board, impacting compliance under Regulations 17(2A), 18(1), 19(1)/19(2), 20(2)/20(2A), and 21(2)/21(3) of the SEBI LODR Regulations.
Following the appointment of Independent Directors by the President of India through the Ministry of Power, NTPC approached both stock exchanges seeking waiver of the penalties. In a communication dated February 17, 2026, BSE confirmed approval of the waiver amounting to ₹31.03 lakh.
The waived fines relate to multiple quarters, including September 2021, December 2021, December 2024, March 2025, and June 2025, covering compliance gaps concerning:
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Board quorum requirements
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Audit Committee composition
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Nomination and Remuneration Committee constitution
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Stakeholders Relationship Committee composition
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Risk Management Committee constitution
As per circulars dated August 26, 2025, issued jointly by BSE and the National Stock Exchange of India Limited regarding processing of waiver applications in the case of commonly listed entities, approval granted by BSE is deemed to be applicable to NSE as well.
NTPC informed the exchanges under Regulation 30 of SEBI LODR, stating that the matter stands resolved following the regularization of Board composition.
NTPC, India’s largest power generation company, continues to align its corporate governance framework with regulatory requirements while strengthening board-level oversight mechanisms.