Ravinder Heights Limited (RVHL) has been levied a fine of ₹75,520 by both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE), totaling ₹1.51 lakhs (including 18% GST). This action stems from an alleged non-compliance with Regulation 17(1A) of the SEBI Listing Regulations, specifically for not obtaining a special resolution from shareholders prior to appointing an Independent Director who had attained the age of 75 years. The company clarifies that Mr. Chander Mohan Mehra was appointed as an Additional Director (Non-Executive Independent Director) on November 12, 2025, with the board's approval based on the Nomination and Remuneration Committee's recommendation. A postal ballot process was initiated on the same date to secure shareholder approval. The special resolution was subsequently passed by the shareholders on December 14, 2025, with the requisite majority, making the appointment effective from November 12, 2025, for a five-year term. The company asserts that the postal ballot and remote e-voting process, conducted from November 15, 2025, to December 14, 2025, strictly adhered to Regulation 44 of SEBI LODR Regulations and Sections 108 and 110 of the Companies Act, 2013. RVHL contends that Regulation 17(1A) does not mandate prior shareholder approval, allowing it to be obtained within three months of appointment or at the next general meeting, whichever is earlier. The company maintains that the appointment was regularized within the prescribed timeline and all necessary filings were made. The period of alleged non-compliance was from November 12, 2025, to December 13, 2025. The company states that these fines have no material impact on its financial, operational, or other activities.
