Cochin Shipyard Limited has informed the Exchange about Action(s) taken or orders passed
COCHINSHIP · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
BSE and NSE have each imposed a fine of Rs. 12,66,140 (inclusive of 18% GST) on Cochin Shipyard for not meeting SEBI Listing Rules during the quarter ended June 30, 2025. The gaps relate to having too few independent directors on its board, which in turn affected the quorum of board meetings and the proper constitution of four key committees: audit, nomination and remuneration, stakeholders relationship, and risk management. The company explains that as a Central Public Sector Enterprise, it cannot appoint directors on its own; the Ministry of Ports, Shipping and Waterways controls this. One independent director (Dr. Seema Suri) was appointed on May 20, 2025, and two committees have since been re-constituted. Five more independent directors are still awaited from the Government.
The fine is small (around Rs. 25.3 lakh in total) and the company has filed waiver requests with the exchanges, so the financial hit is likely limited. However, this flags governance weakness for shareholders to watch, as the company remains non-compliant on key board committees until more independent directors are appointed by the Government.