Rail Vikas Nigam Limited has announced a significant leadership appointment, naming Shri Manoj Kumar Pandey as Executive Director (Electrical) effective March 2, 2026. The appointment represents a strategic addition to the company's senior management team as Pandey transitions from his previous role within the organization.

Appointment Details and Terms

The appointment follows Pandey's permanent absorption into RVNL after his technical resignation from Railway Service was accepted by the Railway Board on March 2, 2026. His selection was based on Vacancy Notice No. 2025/RVNL/43-ELEC dated November 13, 2025.

Professional Background and Experience

Shri Manoj Kumar Pandey brings substantial expertise to his new role as an officer of the IRSEE 1999 batch. His career spans multiple critical areas of railway operations and development.

Career Highlights:

• Six years at Chittaranjan Locomotive Works (CLW) with extensive locomotive manufacturing experience
• 12 years in construction and railway electrification projects
• Joined RVNL on February 28, 2020
• Previously served as Group General Manager (Electrical) at Corporate Office
• Former Sr.DEE/G/MB at Northern Railway

Role in RVNL Operations

Since joining RVNL in 2020, Pandey has played a pivotal role in the company's project bidding activities. His contributions have spanned both domestic and international projects across various capacities, demonstrating his versatility and strategic value to the organization.

Regulatory Compliance

The appointment has been communicated to stock exchanges in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As Executive Director (Electrical), Pandey will be considered part of the Senior Management Personnel of the company.

Transition and Administrative Changes

Pandey relinquished his charge as Group General Manager (Electrical) with effect from the forenoon of March 2, 2026, to assume his new executive director role. The company has indicated that separate pay fixation orders will be issued for his new position. The appointment strengthens RVNL's leadership team as the company continues its focus on railway infrastructure development and electrification projects across India and international markets.

Rail Vikas Nigam Limited has disclosed the imposition of fines by both major stock exchanges for regulatory non-compliance during the quarter ended 31st December, 2025. The company made this disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015, on 02nd March, 2026.

Fine Details and Violations

Both the National Stock Exchange and BSE Limited have imposed identical penalties on the company for board composition violations:

The violations specifically relate to non-compliance with the composition of the Board and its committees for the quarter ended 31st December, 2025.

Company's Response and Clarification

Rail Vikas Nigam Limited has responded to both exchanges explaining its unique position as a Government company. The company clarified through letters dated 9th February, 2026 to NSE and 11th February, 2026 to BSE that it operates under the provisions of Section 2(45) of the Companies Act, 2013.

According to the company's explanation, the President of India holds the authority to appoint all directors, including Independent Directors and Woman Independent Directors, on RVNL's Board. All director appointments are made by the Government of India through the Ministry of Railways, leaving the company with no role in the appointment process.

Expected Resolution

The company has indicated that it expects the fines to be waived once compliance is achieved through the appointment of requisite directors by the Ministry of Railways. This expectation is based on SEBI's policy for exemption of fines and historical precedent.

Rail Vikas Nigam Limited noted that in previous instances of similar non-compliance, both NSE and BSE had waived the fines imposed on the company after compliance was restored.

Financial Impact

Despite the monetary penalties totaling Rs. 19,54,080/- from both exchanges combined, the company has assessed that these fines will have no impact on its financial, operational, or other activities. This assessment reflects the company's expectation of fine waiver upon compliance restoration.