Shipping Corporation Of India Limited has informed the Exchange regarding Cessation of Mr Raju Lakshmanan as Non- Executive Director of the company w.e.f. February 23, 2026.
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Shipping Corporation of India (SCI) has informed the exchanges that Mr. R. Lakshmanan, Joint Secretary at the Ministry of Ports, Shipping and Waterways (MoPSW), has stepped down as Part-time Government Nominee Director on SCI's board with effect from February 23, 2026. In the same ministry letter, approval has been granted for appointing Shri Mukesh Mangal, Additional Secretary at MoPSW, as the new Government Nominee Director in his place. SCI will complete the required statutory formalities and share further details in due course. The change was effective from 3:43 PM on February 23, 2026.
This is a routine bureaucratic rotation of a government-nominee director on a PSU board, where seats are filled by officials from the administrative ministry. There is no material impact on shareholders, operations, or the stock price, and investors should not read this as any corporate governance concern.