SCI Board comments on fine for board composition non-compliance

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SCI · price

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On the reaction day the stock moved in line with Nifty Smallcap 250 and 1.2 pts more than its Shipping peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

SCI informed the exchange about board comments on a fine of Rs 5,42,800 levied by both NSE and BSE for non-compliance with SEBI Listing Regulation 17(1) regarding board composition for Q3 FY 2025-26. The board noted that as a PSU, director appointments depend on the Administrative Ministry (MoPSW). The company has requested waiver of fines and is pursuing appointment of required Independent Directors including a Women Independent Director.

Likely market impact

Minor fine, likely to be waived. Highlights governance gap in director appointments at SCI, a PSU dependent on government for board composition.