New Delhi: NTPC Limited, India’s largest power generation public sector undertaking (PSU), has informed the National Stock Exchange (NSE) and BSE Limited (BSE) about fines imposed on the company for non-compliance with Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has been fined ₹5,42,800 each by NSE and BSE in relation to this matter.
Background of Non-Compliance
Regulation 17(1) of SEBI LODR mandates that listed companies maintain a specified number of Independent Directors on their board. NTPC stated that, as a Government Company under Section 2(45) of the Companies Act, 2013, the President of India, through the Ministry of Power (MoP), has the authority to appoint or remove directors.
The company explained that this governmental process has impacted the timely appointment of the required number of independent directors to meet SEBI’s stipulated norms.
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Request for Waiver and Ongoing Compliance Efforts
In its communication to the exchanges, NTPC requested that the fines for non-compliance be waived, emphasizing the government’s role in director appointments and highlighting the company’s ongoing coordination with the MoP to appoint the required independent directors.
NTPC also reaffirmed its commitment to good corporate governance and assured stakeholders that it is taking all necessary steps to ensure full compliance with SEBI (LODR) regulations.
Commitment to Corporate Governance
The company reiterated that maintaining high standards of corporate governance remains a top priority. NTPC is actively monitoring the board composition and is committed to appointing the requisite independent directors in line with regulatory requirements, reinforcing transparency and accountability.
About NTPC Limited
NTPC Limited is India’s leading public sector power generation company, headquartered in New Delhi. Established in 1975, NTPC is primarily engaged in the generation and sale of electricity, along with related activities such as consultancy and project development. The company operates across thermal, hydro, and renewable energy sectors and plays a key role in India’s energy security, sustainable development, and infrastructure growth.
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