Shipping Corporation Of India Land And Assets Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
SCILAL · price
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SCILAL has been fined Rs. 10,93,860 each by BSE and NSE (totalling about Rs. 21.87 lakhs, including 18% GST) for non-compliance with SEBI LODR regulations during the quarter ended 30 June 2025. The reasons include failure to appoint a woman independent director, and incomplete constitution of the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee. The company, being a PSU, is coordinating with the competent authority to appoint the required independent directors. It has already constituted the Stakeholders Relationship and Risk Management Committees from 15 April 2025 after appointing an independent director, but the Audit Committee and Nomination & Remuneration Committee are still not fully compliant. SCILAL plans to request waivers of these fines from both stock exchanges.
The fine amount is small and the company itself states there is no significant financial, operational, or other impact. The real concern for shareholders is the continued corporate governance non-compliance, though the company is actively working to rectify it through director appointments.