Cochin Shipyard Limited has informed the Exchange regarding 'Comments of the Board of Directors pursuant to SEBI Master Circular dated November 11, 2024'
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 each imposed a fine of Rs. 14,04,200 (including GST) on Cochin Shipyard for the quarter ended March 31, 2025, due to non-compliance with SEBI LODR Regulations around board composition and committee constitution. The non-compliance stemmed from a lack of independent directors on the board. The Board clarified that director appointments are controlled by the Government of India, as CSL is a public sector undertaking. One independent director, Dr. Seema Suri, was appointed on May 20, 2025, after which two committees were reconstituted on June 1, 2025. Five more independent director appointments are still pending with the government. The company has filed waiver requests with the stock exchanges and is continuing to follow up with the administrative ministry.
The fine is relatively small (Rs. 14 lakh each from BSE and NSE) and largely procedural, arising from government-controlled director appointments rather than company negligence. Waiver requests have been filed, and partial compliance has been restored, limiting any meaningful negative impact on shareholders or the stock.