Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
SCILAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Shipping Corporation of India Land and Assets Ltd received fines totaling Rs. 9,55,800 each from BSE and NSE for regulatory non-compliance during the quarter ended March 2026. The penalties cover three violations: failure to maintain proper board composition including appointing a woman director (Rs. 5.31 lakh), non-constitution of audit committee (Rs. 2.12 lakh), and non-constitution of nomination and remuneration committee (Rs. 2.12 lakh). The company stated the fine has no significant financial or operational impact. Following appointment of an Independent Director on April 15, 2025, the company has constituted all statutory committees but their composition still lacks the required number of Independent Directors. As a PSU, SCILAL is coordinating with the Competent Authority and has requested waiver of the fines from both exchanges.
The fine is relatively small (under Rs. 10 lakh combined) and the company has initiated corrective steps by appointing an Independent Director and forming committees. However, ongoing board composition issues could attract further penalties if not resolved, keeping regulatory risk elevated for shareholders.