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. 9,77,040 each by BSE and NSE (total ~Rs. 19.5 lakh including 18% GST) for non-compliance during the quarter ended 31 December 2025. The penalties relate to three issues: failure to meet Board composition requirements (including not having a woman director) under Regulation 17(1) — Rs. 5,42,800; improper constitution of the Audit Committee under Regulation 18(1) — Rs. 2,17,120; and improper constitution of the Nomination and Remuneration Committee under Regulation 19(1)/19(2) — Rs. 2,17,120. The company states the fines have no significant financial or operational impact. SCILAL has appointed one Independent Director effective 15 April 2025 and constituted its statutory committees, but full compliance is still pending due to an insufficient number of Independent Directors. As a PSU, the company is coordinating with the competent authority to appoint additional Independent Directors and plans to apply for waiver of the fines.
The fine amount is small and unlikely to affect the stock price, but it highlights ongoing corporate governance gaps — particularly the shortage of Independent Directors — which shareholders and regulators will want resolved. Persistent non-compliance could attract further penalties or action from stock exchanges if not remedied.