SCI board comments on NSE/BSE fine for board composition non-compliance

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AI summary

SCI informed NSE about board comments on a fine of Rs 5,31,000 (including GST) levied by both NSE and BSE for non-compliance with SEBI Regulation 17(1) on Board composition for Q4 FY 2025-26, calculated at Rs 5,000 per day for 90 days. The Board noted that as a Public Sector Undertaking, director appointments rest with the Ministry of Ports, Shipping and Waterways. The company has requested the Ministry to appoint the required Independent Directors including a Woman Independent Director, and has filed waiver requests with both exchanges dated 29 May 2026.

Likely market impact

Minor penalty of about Rs 10.6 lakh total across two exchanges. Non-compliance is due to pending government appointment of directors. Waiver requested; impact on share price expected to be limited.