Shipping Corporation Of India Land And Assets Limited has informed the Exchange regarding 'Board comments on fine levied by the Exchange'.
SCILAL · price
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Awaiting price reaction for this filing.
NSE and BSE each levied a fine of ₹9,77,040 (including 18% GST) on Shipping Corporation of India Land and Assets Limited (SCILAL) for non-compliance with SEBI Listing Regulations from 1 July 2025 to 30 September 2025. The violations relate to the composition of the Board (failure to appoint a woman director and required independent directors) and the constitution of the Audit Committee and Nomination and Remuneration Committee under Regulations 17(1), 18(1) and 19. The Board noted that SCILAL is a Public Sector Undertaking, and only the Administrative Ministry (MoPSW) has the power to appoint directors — the Company has already written to MoPSW on 2 December 2025 and 23 January 2026 requesting appointments, which are under active consideration. The Company has also filed a waiver request with both stock exchanges on 2 December 2025.
The fine itself is small (under ₹10 lakh per exchange) and is likely to be waived given the PSU status, but if the Company fails to achieve compliance, NSE has warned that promoter shareholdings could be frozen and the stock could be moved to the 'Trade for Trade' (Z) category — which would hurt retail liquidity and signal governance weakness.