BSE, NSE slap Rs 11.22 lakh fines on Adani Green Energy for non-compliance

Leading exchanges BSE and the NSE have imposed fines totalling Rs 11.22 lakh on Adani Green Energy for non-compliance with certain listing regulations.

The two exchanges imposed fines of Rs 5.61 lakh each on the company.

"BSE Ltd and the National Stock Exchange of India Ltd have, vide their letter dated November 21, 2023 (received by us at 6.30 pm ant 8.30 pm, respectively), imposed a fine of Rs 5,61,680 each on the company," the company said in a regulatory filing.

As per the filing, the company wishes to also clarify that the company has already appointed two more independent directors effective September 7 and changed the composition of committees thereafter and after which, the company is in full compliance of Regulation 17(1) and 19(1) of the Sebi Listing Regulations effective from September 7, 2023.

Regulation 17(1) of the Sebi Listing Regulations provides for requirements pertaining to the composition of the Board, including failure to appoint a woman director.

Regulation 19(1) provides for constitution of nomination and remuneration committee.