Cochin Shipyard Limited has informed the Exchange about Action(s) taken or orders passed
COCHINSHIP · price
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Cochin Shipyard Limited received notices from BSE and NSE imposing a fine of Rs. 9,55,800 each (including GST) for non-compliance with SEBI LODR Regulations. The violations pertain to the quarter ended March 31, 2026, specifically Regulation 17(1) — insufficient Independent Directors on the Board, and Regulations 18 and 19 — non-constitution of audit committee and nomination and remuneration committee. The company states that compliance failures were not due to negligence or within management's control, as appointment of directors rests with the Government of India. The company plans to file waiver requests with both exchanges.
The fine amount is relatively modest at under Rs 10 lakh. The company has attributed non-compliance to government-related delays in appointing independent directors, which may mitigate reputational impact. However, continued non-compliance could attract further penalties if the board composition issue is not resolved.