BSE, NSE impose Rs 2.24 lakh fine each on Adani Green Energy for non-compliance
The fines have been imposed for non-compliance with the requirements pertaining to the composition of the Board, including failure to appoint a woman director, the company stated in an exchange filing.
Adani Green Energy on Tuesday said BSE and National Stock Exchange have imposed a fine of Rs 2.24 lakh each on the company for certain non-compliance.
The fines have been imposed "for non-compliance with the requirements pertaining to the composition of the Board, including failure to appoint a woman director", the company stated in an exchange filing.
"BSE Ltd and the National Stock Exchange of India Ltd have, vide their letter dated August 21, 2023 (received by us at 8.00 pm and 9.00 pm, respectively), imposed a fine of Rs. 2,24,200 each on the Company...For certain non-compliance," the filing said.
Adani Green Energy said that the non-compliance has occurred due to the untimely demise of a women director and the exit of an independent director.
Since then, the company has been running an extensive process of identifying potential independent directors who can fill these vacancies and is in an advanced stage of discussions/finalisation.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.