Indian Renewable Energy Development Agency Limited has been fined a total of ₹2.03 lakh by stock exchanges for non-compliance with board composition requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the quarter ended March 31, 2026. The penalties stem from the company's failure to maintain the requisite number of Independent Directors and constitute specific committees, impacting its governance structure.

The National Stock Exchange of India Limited and BSE Limited issued notices on May 27, 2026, detailing the fines. The total penalty includes a basic fine of ₹172,000 and GST of ₹30,960. The exchanges have directed the company to pay the amount within 15 days from the date of the notice. Failure to comply may result in the freezing of the promoter's shareholding and other securities held in their demat accounts.

At its meeting held on May 29, 2026, the Board of Directors of Indian Renewable Energy Development Agency Limited acknowledged the non-compliance and the subsequent fines. The board noted that the company is actively following up with the Administrative Ministry, specifically the Ministry of New and Renewable Energy (MNRE), to appoint the necessary Independent Directors, including a woman director. The board has requested the MNRE expedite this process.

Consequently, the board has requested the stock exchanges waive the imposed fines and refrain from levying further penalties. The company asserts that the delay in appointing Independent Directors is beyond its control and that there has been no violation on its part regarding the matter.

The breakdown of the fines indicates that the majority of the penalty, ₹130,000, was levied for non-compliance with Regulation 17(1), which pertains to the composition of the Board of Directors and the failure to appoint a woman director. Additional fines were imposed for non-compliance with regulations concerning the constitution of the audit committee, nomination and remuneration committee, stakeholder relationship committee, and risk management committee.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE202E01016/a7334f57add94a5a.pdf

Indian Renewable Energy Development Agency Limited has scheduled a meeting of its Board of Directors for Friday, May 29, 2026. The meeting will be held to consider and approve the audited financial results and financial statements for the quarter and fiscal year ended March 31, 2026. The results will cover both standalone and consolidated figures. Additionally, the Board will consider and recommend the final dividend, if any, on the equity shares of the company for the Financial Year 2025-26.

Agenda for the Meeting

The primary agenda items include the approval of the audited financial results for the fourth quarter and the full fiscal year ending March 31, 2026. The board will review the standalone and consolidated financial statements of the company. Pursuant to Regulation 29(1) of the SEBI LODR Regulations 2015, the directors will also evaluate the proposal for a final dividend for the fiscal year.

Trading Window Closure

In compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the company's securities has been closed since April 01, 2026. This closure will remain in effect until 48 hours after the declaration of the audited financial results. The intimation regarding this closure was previously communicated to the stock exchanges on March 26, 2026.