RVNL Share Price in Focus; NSE Imposes ₹9.55 Lakh Fine for Board and Committee Composition Non-Compliance

Rail Vikas Nigam Limited (RVNL) has informed stock exchanges that the National Stock Exchange (NSE) has levied a monetary penalty on the company for non-compliance with certain corporate governance requirements during the quarter ended March 31, 2026.  

The disclosure was made under Regulation 30 of SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations.  

The company stated that the matter relates to the composition of its board and board committees.  

NSE Levies Fine Of ₹9.56 Lakh 

According to the exchange communication received by RVNL, NSE has imposed a fine of ₹9,55,800, inclusive of GST. The exchange's action pertains to non-compliance with Regulations 17(1), 18(1) and 19(1)(2) of the SEBI LODR Regulations for the quarter ended March 31, 2026.  

The company received the communication through NSE letter number NSE/LIST-SOP/COMB/FINES/0611 dated May 27, 2026.  

Company Cites Government Appointment Process 

RVNL stated that it is a government company under the Companies Act, 2013 and that the appointment of directors, including independent directors and women independent directors, is undertaken by the Government of India through the Ministry of Railways. The company noted that it does not have any role in the appointment process.  

According to RVNL, compliance with the applicable regulations will be achieved once the required appointments are made by the Ministry of Railways.  

Potential Waiver After Compliance 

The company further stated that after attaining compliance with the relevant SEBI regulations, it may become eligible for waiver of the fine under applicable exchange and regulatory policies. RVNL also noted that similar penalties imposed in previous instances had been waived by stock exchanges after compliance requirements were fulfilled.  

The company clarified that the penalty has no impact on its financial, operational or other business activities.  

Read More: RVNL Jumps Over 6% in the Last 3 Days After Winning ₹968 Crore Rail Contract! 

RVNL Share Price Performance 

As of 29 May 2026, at 11:30 AM, RVNL share price closed at ₹250.80 per share, reflecting a decline of 0.59% from the previous closing price. 

Conclusion 

RVNL has received an NSE penalty related to board and committee composition requirements, while maintaining that director appointments are governed by the Ministry of Railways. The company expects to seek relief under the waiver mechanism once the required compliance is achieved.  

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