Shri Shubh Karan Singh has ceased to be a Part-time Official Director of SJVN Limited effective July 20, 2026, following his relinquishment of charge as Special Secretary (MPP & Power) to the Government of Himachal Pradesh. The change in directorship was necessitated by a notification issued by the Department of Personnel, Government of Himachal Pradesh, on July 19, 2026.

The company informed the exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The cessation was attributed to Shri Shubh Karan Singh stepping down from his government post, which determined his position on the board.

According to Article No. 33(d) of the Articles of Association of SJVN Limited, a Director representing a Ministry of the Government of India or any Administrative Department of the Government of Himachal Pradesh must retire upon ceasing to be an officer of that respective Ministry or Administrative Department. Consequently, Shri Shubh Karan Singh's tenure as Director concluded on July 20, 2026.

The notification regarding the relinquishment of charge was issued under Notification No. Per (A-IV)-B (6)-1/2026-Part. SJVN Limited has requested the exchanges to take the information on record.

SJVN Ltd has been fined a total of ₹5,75,840 by stock exchanges for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically regarding the composition of its Board and committees. The penalties were levied by BSE Limited and National Stock Exchange of India Limited for the quarter ended March 2026. The Board of Directors noted that the company is a Government Company where the power to appoint directors vests with the President of India, acting through the Ministry of Power, and consequently, the Board lacks the authority to make these appointments directly.

The fines were imposed primarily for non-compliance with Regulation 17(1), which pertains to the composition of the Board including the failure to appoint a woman director, and Regulation 18(1), concerning the constitution of the audit committee. The company has communicated to the exchanges that it has sent requests to the Ministry of Power and the Government of Himachal Pradesh to expedite the appointment of Independent Directors. It stated that the government is in the process of appointing the CMD, Whole-time Directors, and Independent Directors.

The breakdown of the penalties indicates a significant portion of the fine is attributed to the delay in board composition. The total basic fine amounted to ₹4,88,000, with an additional GST of ₹87,840. The exchanges have advised the company to pay the fines within 15 days from the date of the notice, failing which action may be initiated to freeze the shareholding of the promoter. Furthermore, if the non-compliance continues for a second consecutive quarter, the company risks being transferred to the Z group and facing suspension of trading.

The notices issued on May 27, 2026, referenced the SEBI Master Circular regarding penal actions for non-compliance. The company is required to ensure compliance with the regulations and submit the details of the action taken to the Board. The Board's comments regarding the government's role in director appointments have been submitted to the exchanges for dissemination.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE002L01015/00ff9dba0d504b76.pdf