Shipping Corporation Of India Land And Assets Limited has informed the Exchange regarding Cessation of Mr Som Raj as Executive Director of the company w.e.f. February 23, 2026.
SCILAL · price
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Mr. Som Raj has ceased to hold the office of Director (Operations)/Executive Director of SCILAL effective February 23, 2026, following the re-designation of the post as Director (Finance). The Ministry of Ports, Shipping and Waterways has approved giving the additional charge of the Director (Finance) post to Shri Nitin Khamesra, who is currently Director (Finance) at the parent company Shipping Corporation of India (SCI). His additional charge runs from March 11, 2026 to December 31, 2026, or until further orders, and is subject to approval of the Appointments Committee of the Cabinet. Khamesra is a Chartered Accountant and Cost Accountant with over 28 years of experience, previously serving as Chief General Manager at Indian Oil Corporation. The transition is part of a government-directed portfolio reshuffle at this state-owned entity.
This is an administrative leadership change driven by the promoter (Government of India via the Ministry of Ports, Shipping and Waterways) and is unlikely to materially affect operations, as Khamesra brings strong finance and shipping experience from SCI and IOCL. Likely a neutral event for the stock in the near term.