POWERGRID Fined ₹5.42 Lakh Each by NSE and BSE Over Board Composition Non-Compliance
New Delhi, February 28, 2026: Power Grid Corporation of India Limited (POWERGRID) has received notices from National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) dated February 27, 2026, citing non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR).
The exchanges have imposed a fine of ₹5,42,800 (including GST) each on the company for the quarter ended December 31, 2025.
Reason for the Fine
The penalty pertains to non-compliance with Regulation 17(1) of SEBI LODR, which relates to the composition of the Board of Directors, including the requirement for adequate representation of Independent Directors.
According to the company’s disclosure, the non-compliance occurred during the quarter ended December 31, 2025.
Financial Impact
-
Fine imposed by NSE: ₹5,42,800 (including GST)
-
Fine imposed by BSE: ₹5,42,800 (including GST)
-
Total financial implication: ₹10,85,600 (including GST)
The company clarified that the impact is limited to the monetary penalty and does not materially affect its operational activities.
Government Appointment Process Cited
POWERGRID stated that, being a Government Company under Section 2(45) of the Companies Act, 2013, the appointment of Functional Directors, Official Part-Time Directors, and Non-Official Part-Time Directors (Independent Directors) is vested with the President of India.
The company has taken up the matter with its Administrative Ministry — the Ministry of Power — for filling up the vacant posts of Independent Directors.
Waiver Request Filed
POWERGRID has written to both NSE and BSE on February 28, 2026, seeking waiver of the fine in relation to the non-compliance with Regulation 17(1) of SEBI LODR.
The disclosure has been made under Regulation 30 of SEBI LODR in compliance with listing requirements.