India Power Corporation discloses Rs 2.42 lakh exchange fines

India Power Corporation Limited, formerly DPSC Limited, said in a filing with the National Stock Exchange that it received notices dated 30 October 2026 from NSE and the Metropolitan Stock Exchange for delay in submitting its Annual Report for 2025-26. The company, which is in corporate insolvency resolution, puts the financial impact at Rs 2.42 lakh.

What Happened

According to the company's filing, NSE notice NSE/LIST-SOP/COMB/FINES/1209 and Metropolitan Stock Exchange notice MSE/LIST/2026/1283 both record non-compliance with Regulation 34 of the SEBI listing rules, which requires a listed company to submit its annual report to the exchanges.

NSE's notice sets a fine of Rs 2,000 a day for 52 days, or Rs 1,04,000, plus Rs 18,720 GST, a total of Rs 1,22,720. The Metropolitan Stock Exchange's notice shows a basic fine of Rs 1,02,000 for 51 days, plus Rs 18,360 GST, a total of Rs 1,20,360. Both exchanges say the fine keeps rising every day until the company complies.

The company said its powers are exercised by the resolution professional because the National Company Law Tribunal, Hyderabad Bench-I, ordered the insolvency process on 15 May 2026. It said it could not hold its annual general meeting by 30 September 2026 "primarily due to the non-availability of the updated Benpos statement", the list of shareholders. It said the depository provided the updated statement only on 25 September 2026, and that its attempts to seek more time through the Registrar of Companies were rejected.

The company said it has asked the National Company Law Tribunal for more time to hold the meeting, and that this application is pending. It said the notices are being reviewed and that appeals would be filed for waiver of the penalties. The company said there is no impact on its operations.

What It Means

The filing shows the penalty for a late annual report is levied by the exchanges automatically, and that it applies to companies in insolvency too. According to the notices, if the fine is not paid within 15 days, the exchanges may start freezing the promoters' demat accounts. NSE's notice adds that trading in the shares can move to a "Trade for Trade" basis in case of consecutive default with Regulation 34.

For shareholders, the filing means the company's Annual Report for 2025-26 has not yet been filed, and the company has said it will submit it once the date of its annual general meeting is fixed. A company may apply to the exchanges for a waiver of such fines, but the notices say compliance is a pre-requisite for the waiver application to be processed.

The disclosure is the company's own account. It is not a finding of wrongdoing by any regulator, and the exchanges' fines are a routine penalty under the listing rules.

Oquilia Data: DPSC Ltd. (NSE: DPSCLTD)

Closes adjusted for splits and bonuses; returns exclude dividends. Facts from NSE's files, not investment advice.

Source: Company filing on NSE