IREDA extended the additional charge of Chairman and Managing Director (CMD) to Dr. Bijay Kumar Mohanty for a further period of 3 months effective October 1, 2026.

The extension was approved by the Appointments Committee of the Cabinet via an order from the Ministry of New and Renewable Energy. The directive is valid until the appointment of a regular incumbent or until further orders, whichever occurs earliest.

Governance update details

Dr. Mohanty currently serves as Director (Finance) at IREDA. This extension follows an earlier entrustment of the additional charge communicated in July 2026. The company informed stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Indian Renewable Energy Development Agency Limited held its 39th Annual General Meeting (AGM) on September 29, 2026, via video conferencing. The shareholders adopted the audited standalone and consolidated financial statements for the fiscal year ended March 31, 2026, and confirmed the declaration of the final dividend for FY26.

The meeting was chaired by Dr. Bijay Kumar Mohanty, Chairman and Managing Director (Additional Charge). A total of 122 shareholders attended the virtual session. The statutory auditors issued their report without any qualification, adverse comments, or disclaimer. Additionally, the Comptroller & Auditor General of India provided 'NIL' comments on the company's financial statements for the period.

Key resolutions passed

The shareholders approved several ordinary and special business items during the proceedings. The key resolutions included:

• Adoption of audited standalone and consolidated financial statements for FY26.
• Confirmation of interim dividend paid and declaration of final dividend for FY26.
• Re-appointment of Shri Padam Lal Negi as Director (Government Nominee) retiring by rotation.
• Appointment of Shri Javvadi Venkata Naga Subramanyam as Director (Government Nominee).
• Appointment of Shri Manoneet Dalal as Non-Official Director (Independent Director).
• Authorization for the Board to fix remuneration for statutory auditors appointed by the CAG for FY27.
• Ratification of remuneration for the Cost Auditor for FY27.

Governance and audit observations

The Secretarial Auditor noted non-compliance regarding the composition of the Board of Directors and Board Level Committees for a certain period due to a lack of Independent Directors. The company also reported non-compliance with quorum requirements in one board meeting during FY26. In response, management stated that as a government company, the power to appoint directors vests with the President of India through the Ministry of New and Renewable Energy. The company is actively pursuing the matter with the administrative ministry to resolve these structural gaps.

What the numbers show

While specific financial figures such as revenue or net profit were not detailed in the AGM proceedings text, the clean audit opinion from both statutory auditors and the Comptroller & Auditor General signals robust compliance and financial health for FY26. The absence of qualifications suggests that the company’s accounting practices and disclosures met regulatory standards without material misstatements. The launch of the company's first-ever ESG Report during the meeting highlights a strategic shift towards enhanced sustainability reporting alongside traditional financial performance.