Rail Vikas Nigam Limited (RVNL) has addressed a fine levied by stock exchanges for non-compliance regarding the composition of its Board and committees for the quarter ended September 30, 2025. The Board deliberated on the matter during a meeting on January 15, 2026, noting that the company is actively pursuing the appointment of Independent Directors with the Ministry of Railways. RVNL has sent reminder letters to MoR to take immediate action with respect to this matter.
Non-Compliance Issue
The National Stock Exchange of India (NSE) and BSE imposed a fine on Rail Vikas Nigam Limited (RVNL) due to non-compliance with regulations pertaining to the composition of the Board and its committees for Q2 2025 (July-September).
Board’s Response
RVNL’s Board addressed the matter in a meeting held on January 15, 2026. The Board has noted the company’s position regarding the non-compliance.
Independent Director Appointments
RVNL is actively working with the Ministry of Railways to fill the vacancy of Independent Directors, including a woman Independent Director, on its Board. RVNL has repeatedly requested the MoR to take immediate action on these appointments. As a government company, RVNL has limited control over the appointment process.
Source: BSE
