Orient Green Power Company Limited disclosed on May 01, 2026 that its application for waiver of regulatory fines imposed by stock exchanges has been rejected, confirming a total penalty of Rs 3,20,960 for alleged non-compliance with SEBI listing regulations.

Penalty Details and Background

The penalties were imposed by both BSE Limited and National Stock Exchange of India Limited for alleged violations of Regulation 17(1A) of SEBI (LODR) Regulations, 2015 for quarters ended June 30, 2023 and September 30, 2023. The company had initially received notices about these fines on August 21, 2023 and November 21, 2023 respectively.

Waiver Application Rejection

The company had submitted a waiver application to BSE Limited as the designated stock exchange, following SEBI circular SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020. However, the Internal Regulatory Oversight and Review Group (IRORG) of BSE Limited rejected this application, with the decision communicated via email on April 30, 2026.

The company emphasized that the waiver application was made in good faith and not due to any deliberate or material non-compliance with regulatory requirements.

Financial Impact Assessment

The company confirmed that it had already deposited the entire fine amount with both stock exchanges under protest while the waiver application was pending. Consequently, the rejection of the waiver application does not result in any additional financial impact on the company's operations.

Regulatory Compliance Framework

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to inform exchanges about material events. The company provided comprehensive details as required under Schedule III of the SEBI Listing Regulations, including the nature of violations, dates of communications, and financial implications.

This development highlights the importance of strict adherence to corporate governance norms, particularly Regulation 17(1A) which deals with board composition and independence requirements for listed companies.

Orient Green Power Company Limited has announced that its material step-down subsidiary, Clarion Wind Farm Private Limited, has entered into a significant contract for wind turbine supply. The Investment/Borrowing/Banking Committee of the Board of Directors of Clarion approved the agreement during its meeting held on April 17, 2026.

Contract Details

The contract has been signed with M/s. Pioneer Wincon Energy Systems Pvt Limited, a domestic entity, for the supply of 2 numbers of P57-750 KW Wind Turbine Generators (WTG). The total capacity of these turbines aggregates to 1.5 MW and will be used for re-powering the existing wind farm located at the Devarkulam site in Tamil Nadu.

Key Contractual Terms

Regulatory Compliance

The contract has been executed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III thereto. The disclosures have been made as per SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The company confirmed that the contract does not involve any related party transactions, and neither the promoter, promoter group, nor group companies have any interest in the entity that awarded the contract. The agreement was signed and executed on April 17, 2026, between Clarion Wind Farm Private Limited and Pioneer Wincon Energy Systems Pvt Limited.