RVNL fined by BSE for board, committee non-compliance

Rail Vikas Nigam Limited (RVNL) has announced a fine of INR 977,040 levied by BSE Limited for non-compliance with SEBI (LODR) Regulations, 2015. The penalty, communicated on November 28, 2025, pertains to violations of regulations regarding the composition of the board and its committees for the quarter ended September 30, 2025. RVNL clarified that this fine is not expected to have any material financial, operational, or other impact on the listed entity.

As a government company, RVNL stated that the president of India is responsible for appointing all directors, including independent and woman independent directors, to its board. All appointments are made through the government of India, specifically its administrative ministry (Ministry of Railways), and RVNL itself has no direct role in these appointments.

RVNL noted that upon achieving compliance with the SEBI (LODR) Regulations regarding the requisite number of directors appointed by the Ministry of Railways, the company anticipates eligibility for a waiver of the fine in accordance with SEBI's policy. The company also highlighted that both NSE and BSE have previously waived fines for similar non-compliance instances.