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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The company received a fine of Rs. 9,77,040 (inclusive of 18% GST) from NSE and BSE for non-compliance with SEBI (LODR) Regulations during Q3 FY 2025-26 (October-December 2025). The violations involved failure to appoint Independent directors including a woman director on the Board, and non-compliance with constitution of Audit Committee and Nomination and Remuneration Committee. As a Public Sector Undertaking, the company states only the Ministry of Ports, Shipping and Waterways (MoPSW) has the authority to appoint directors. The company has already requested MoPSW to appoint the required Independent directors and has also applied to the stock exchanges to waive the fine. The Board took note of the matter in its meeting held on 05.05.2026.
The fine is relatively modest at under Rs 10 lakh, and the underlying issue is a governance gap due to delayed government appointments. The stock may face minor negative sentiment, but no market ban or trading suspension is involved at this stage. Resolution depends on MoPSW filling the required board positions.