New Delhi: Jet Airways was fined by the National Stock Exchange (NSE) today after the grounded airline failed to comply with listing norms for the quarter ending 31 March 2019. The stock exchange has imposed a fine of ₹415,000 on Jet Airways, NSE said in a statement.
The crisis-hit company, which operated its last flight on 17 April due to an acute cash crunch, has seen a string of high-level departures. Jet Airways's CEO Vinay Dube resigned on Tuesday, a day after the chief financial officer (CFO) Amit Agarwal also put in his papers.
Along with Jet, NSE has also fined and issued notices to almost 250 companies. According to the Securities and Exchange Board of India (Sebi) norms, the exchange can levy daily fines and freeze the holdings of the promoter and promoter group if non-compliant listed entities fail to comply with the requirement(s) of listing regulations and/or pay fine levied within the stipulated period.
Adani Ports, Dredging Corporation of India, Anant Raj, MOIL Ltd, Power Finance Corporation, National Fertilizers, NLC India, Bharat Heavy Electrics and Power Grid were some other companies which will have to pay a fine of ₹450,000. Besides, NHPC, Star Paper Mills, Jindal Steel and Power, Bajaj Consumer Care, Usha Martin were also fined ₹2,000.