Cochin Shipyard Limited has informed the Exchange about Disclosure pursuant to Regulation 30 of the SEBI LODR Regulations
COCHINSHIP · price
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Awaiting price reaction for this filing.
Cochin Shipyard Limited has received notices from both BSE and NSE imposing a fine of Rs. 9,77,040 each (inclusive of 18% GST) for non-compliance with SEBI LODR Regulations during the quarter ended December 31, 2025. The violations relate to Regulation 17(1) due to absence of sufficient Independent Directors, and Regulations 18 and 19 concerning the constitution of the Audit Committee and Nomination and Remuneration Committee. The company has clarified that being a Central Public Sector Enterprise, the appointment of directors lies with the Government of India, and it has already requested the government to fill the vacant independent director positions. The company plans to file waiver requests with the stock exchanges, stating the non-compliance was not due to its negligence or within its control.
The financial impact is minimal — only the fines, which the company intends to seek waiver for. The disclosure is procedural and reflects a governance gap common in PSUs awaiting government-appointed independent directors; it is unlikely to materially affect the stock price.