NTPC, SJVN, REC face Rs 59 lakh penalty from BSE, NSE

The BSE and NSE have fined state-owned power companies NTPC, SJVN, and REC a combined Rs 59.17 lakh for failing to meet corporate governance requirements under SEBI's listing regulations. All three companies said the Union government controls the appointment of their directors and indicated they will seek waivers from the exchanges. NTPC fined Rs 10.73 lakh

NTPC said in a regulatory filing that it received notices from both BSE and NSE over non-compliance with Regulation 17(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations. The BSE and NSE have fined state-owned power companies NTPC, SJVN, and REC a combined Rs 59.17 lakh for failing to meet corporate governance requirements under SEBI's listing regulations. All three companies said the Union government controls the appointment of their directors and indicated they will seek waivers from the exchanges. NTPC fined Rs 10.73 lakh NTPC said in a regulatory filing that it received notices from both BSE and NSE over non-compliance with Regulation 17(1) of the SEBI Listing Obligations and Disclosure Requirements Regulations.