Cochin Shipyard fined for non-compliance on independent directors

BSE and NSE fined Cochin Shipyard about Rs 9.66 lakh each (including GST) for not having enough independent directors and not properly forming the Audit Committee and Nomination and Remuneration Committee during the quarter ended June 30, 2026. The Board says the issue was beyond the company's control since director appointments are made by the Government of India. One independent director, Dr. Vani Ahluwalia, has now been appointed and both committees have been reconstituted. The company plans to file waiver requests with the exchanges. Four more independent directors are still awaited from the government.