The Shipping Corporation of India Ltd. (SCI) has been levied a total fine of ₹13,10,980/- by both BSE Limited and the National Stock Exchange of India Limited. These fines are for non-compliance with various SEBI Listing Regulations during the quarter ended June 30, 2026. The penalties stem from issues related to board composition, quorum requirements, and the formation of committees, impacting governance standards.
Listing Non-Compliance Fines
The Shipping Corporation of India Ltd. (SCI) has received fines totaling ₹13,10,980/- from both the BSE Limited and the National Stock Exchange of India Limited. These penalties were communicated via separate emails on August 25, 2026, and are attributed to non-compliance with several SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fines cover the financial quarter that concluded on June 30, 2026.
Details of Non-Compliance
The non-compliance issues include breaches related to the composition of the Board of Directors, specifically the failure to appoint a woman director. Additionally, penalties were levied for not meeting quorum requirements for Board meetings and for the constitution of key committees such as the audit committee, nomination and remuneration committee, stakeholder relationship committee, and risk management committee. Each exchange levied a fine of ₹5,36,900/-, comprising ₹11,11,000/- plus 18% GST.
Specific regulations cited include Regulation 17(1) concerning board composition, Regulation 17(2A) for quorum, Regulation 18(1) for audit committee constitution, Regulation 19(1)/19(2) for nomination and remuneration committee, Regulation 20(2)/(2A) for stakeholder relationship committee, and Regulation 21(2) for risk management committee.
Impact and Governance Changes
The company stated that the action does not have a significant impact on its financial, operational, or other activities in quantifiable monetary terms. However, following the effective appointment of Smt. Bharati Raman Gotarna as a Non-official (Independent) Director on August 19, 2026, SCI has re-constituted its Statutory Board-level Committees. The Stakeholders Relationship Committee and Risk Management Committee are now in compliance. The company is coordinating for the appointment of the requisite number of Independent Directors to reconstitute the Audit Committee and Nomination and Remuneration Committee in accordance with SEBI Listing Regulations.
The event occurrence date was noted as August 25, 2026, at 1900 hours IST for BSE and 2153 hours IST for NSE.
Source: BSE
