REC Limited has addressed the fines levied by the National Stock Exchange (NSE) and BSE for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning the composition of its Board of Directors for the quarter ended September 30, 2025. The company's Board of Directors, in a meeting held on December 31, 2025, noted the non-compliance and the imposed fines.

The Board has requested regular follow-up with the Ministry of Power, Government of India, to expedite the appointment of the required number of Independent Directors. REC Limited emphasized that the appointment of Independent Directors is beyond its control, as the power rests with the President of India acting through the Ministry of Power, as per its Articles of Association. Consequently, the company has requested the stock exchanges to waive the fines and refrain from imposing further penalties.

The NSE and BSE had issued notices on November 28, 2025, detailing the non-compliance with Regulation 17(1) of the Listing Regulations, resulting in a total fine of ₹5,42,800 (including 18% GST) for REC Limited. The exchanges also outlined the process for waiver requests and potential actions like freezing promoter shareholding or shifting the company's trading to the 'Z' category if non-compliance persists.