Shipping Corporation Of India Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,2015
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Shipping Corporation of India received a total fine of Rs. 15,12,760 (including GST) from BSE and NSE for non-compliance with SEBI Listing Regulations during Q1 FY26 (quarter ended 30.06.2025). The violations relate to inadequate Board composition (missing woman director) and improper constitution of four Board-level committees: Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee. The largest fine component (Rs. 5,36,900) is for the absence of a woman director on the Board. The company clarified that after appointing three Independent Directors on 11.04.2025, all four committees have since been re-constituted, and only the woman director requirement under Regulation 17(1) remains pending. As a Navratna PSU, SCI is coordinating with the competent authority to appoint a woman independent director.
The fine amount is immaterial to SCI's financials and operations, and most compliance gaps have already been addressed. However, the continued absence of a woman director is a governance red flag that investors may want to monitor for timely resolution.