NSE, BSE slap fines on Power Grid Corp

New Delhi: Leading exchanges BSE and NSE have imposed a fine of Rs5,42,800 each on state-owned Power Grid Corporation (PGC) for not having the required number of independent directors, including one woman.

The NSE and BSE have imposed a fine of Rs5,42,800 for non-compliance, Power Grid Corporation said in a regulatory filing said. It informed that the company has received notices from NSE and BSE on November 21, 2023, regarding non-compliance with the provision of Regulation 17(1) of the Sebi (LODR) for not having a requisite number of independent directors (including one woman independent director) on the Board during the quarter ended September 30, 2023.