Rail Vikas Nigam has re-appointed Rakesh Bhalla as an additional director designated as an independent director on its Board. The appointment is effective from August 25, 2026, for a term of three years.

The Board of Directors approved the re-appointment through a resolution by circulation passed on August 27, 2026. This action follows Bhalla’s initial appointment as an additional director designated as an independent director, which took effect on August 13, 2026, and was valid until the date of the company’s next Annual General Meeting on August 25, 2026.

Regulatory Compliance

The disclosure is made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time. The filing also references other applicable regulations under the Companies Act, 2013.

The company enclosed a declaration in accordance with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2//3762/2026 dated January 30, 2026. This document confirms that Shri Rakesh Bhalla (DIN: 07020164) is not related to any other director of the company.

Appointment Details

Kalpana Dubey, Company Secretary and Compliance Officer of Rail Vikas Nigam Limited, signed the communication on behalf of the company.

Rail Vikas Nigam has been fined ₹9,66,420 by the National Stock Exchange for non-compliance with board composition regulations for the quarter ended June 30, 2026.

The penalty, inclusive of GST, stems from violations of Regulations 17(1), 18(1), and 19(1)(2) of the SEBI (LODR) Regulations, 2015. The exchange cited failures in maintaining the required composition of the Board and its committees during the period.

Regulatory Action Details

The company disclosed the fine under Regulation 30 of the SEBI (LODR) Regulations, 2015. Key details of the action include:

The notification was received via email from NSE on August 25, 2026, referencing Letter No. NSE/LIST-SOP/COMB/FINES/0954.

Company Response and Waiver Eligibility

In a letter dated August 20, 2026, Rail Vikas Nigam clarified that as a Government company under Section 2(45) of the Companies Act, 2013, it does not control director appointments. The President of India vests this power, with all directors appointed through the Ministry of Railways.

The company stated that once compliance is attained upon the appointment of requisite directors by the Ministry, it will be eligible for a waiver of fines under SEBI’s exemption policy. Rail Vikas Nigam noted that both NSE and BSE had waived similar fines in earlier instances of non-compliance.

The company assessed that the fine has no quantifiable impact on its financial or operational activities.