POWERGRID has been penalized by both the BSE and NSE following the non-compliance concerning the required composition of its Board for the quarter ending December 31, 2025. Each exchange imposed a fine of ₹5,42,800/- (including GST). The company attributes the vacancy to the process requiring Presidential approval for appointing Independent Directors and has formally requested a waiver of these financial penalties.
Regulatory Penalties Issued to POWERGRID
POWERGRID announced on February 28, 2026, that it had received notices from both the National Stock Exchange (NSE) and the BSE Limited regarding a specific regulatory lapse. The notices, dated February 27, 2026, addressed non-compliance with the requirement related to the composition of the Board for the quarter that concluded on December 31, 2025.
Details of the Sanction
As a result of this contravention, both exchanges have collectively imposed financial penalties. The nature of the action taken was the imposition of a fine of ₹5,42,800/- (including GST) by each exchange.
| Authority | Nature of Action | Financial Impact (Each) |
|---|---|---|
| BSE & NSE | Imposition of Fine | ₹5,42,800/- (incl. GST) |
| BSE & NSE | Violation Basis | Non-compliance with Board Composition (Regulation 17(1)) |
Company Response and Request for Waiver
The company clarified that, as a Government Company, the power to appoint functional and Non-Official Part-time Directors (Independent Directors) is vested exclusively with the President of India. The matter concerning the filling of these vacant posts has been actively communicated to the relevant Administrative Ministry, the Ministry of Power.
In light of the administrative process involved, POWERGRID confirmed that it has officially requested both the BSE and NSE, via separate letters dated February 28, 2026, to grant a waiver of the imposed fine related to the non-compliance concerning Regulation 17(1) of the relevant disclosure requirements.
Source: BSE
