SCI Board Notes ₹10.62 Lakh Fine for Q4 FY26 Non-Compliance with SEBI Listing Norms
SCI's Board of Directors noted fines totaling ₹10.62 lakh imposed by NSE and BSE for non-compliance with SEBI Listing Regulations for Q4 FY26. The company has requested a waiver for these fines, citing its PSU status and dependence on the Ministry for director appointments.
The fines are material and relate to a compliance issue, which could impact investor confidence and regulatory standing. However, the company is actively seeking a waiver and has placed the matter before the board.
The company has been fined by stock exchanges for non-compliance with listing regulations, which is a negative development.
Shipping Corporation of India Limited (SCI) has informed the stock exchanges about the Board of Directors' comments regarding fines levied by NSE and BSE for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Company Secretary informed the Board that during Q1 of FY 2026-27, both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) issued notices imposing a fine of ₹5,31,000 (inclusive of 18% GST) each. These fines were for non-compliance with Regulation 17(1) of SEBI Listing Regulations for the Quarter 4 of FY 2025-26.
The Board noted that as SCI is a Public Sector Undertaking, only the Administrative Ministry, MoPSW, has the authority to appoint or remove Directors. The Board also acknowledged the waiver request letters sent to NSE and BSE on May 29, 2026. Furthermore, the Board took note of the subsequent actions taken by the Company to make disclosures to the stock exchanges and its consistent requests to the Ministry of Ports, Shipping and Waterways to appoint the requisite number of Independent Directors, including a Women Independent Director.
The Company has also submitted a request to both Stock Exchanges to waive off the fines levied.
A plain-language summary of a public exchange filing by Shipping Corporation Of India Limited. Read the original for the full detail.