Date: 31.08.2026

Board Meeting Outcomes

The Board of Directors discussed the matter of non-compliance with SEBI Listing Regulations at their meeting held on 06.08.2026. The Board noted:

  • National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) have imposed fines of ₹5,31,000 each (inclusive of 18% GST) for non-compliance with Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 for Quarter 4 of FY 2025-26
  • SCI being a Public Sector Undertaking, only the Administrative Ministry (Ministry of Ports, Shipping and Waterways - MoPSW) has the power to appoint/remove/change Directors on the Board of the Company
  • The Company sent waiver request letters to NSE and BSE via email dated 29.05.2026
  • The Company has taken subsequent actions under SEBI Listing Regulations, 2015 regarding disclosures to Stock Exchanges
  • The Company has made consistent requests to Ministry of Ports, Shipping and Waterways to appoint requisite number of Independent Directors including a Women Independent Director

Regulatory Fine Details

NSE Fine Particulars (Reference: NSE/LIST-SOP/COMB/FINES/0611 dated 27.05.2026):

  • Regulation Violated: Regulation 17(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Quarter: 31-Mar 2026
  • Fine amount per day: ₹5,000
  • Number of days of non-compliance: 90 days
  • Base fine amount: ₹450,000
  • GST @18%: ₹81,000
  • Total Fine Payable: ₹531,000 (inclusive of GST)
  • Note: If the Company remains non-compliant as of the date of the letter, the fine amount continues increasing daily until compliance is achieved

Waiver Process Information

The notice specifies waiver application requirements:

  • Waiver applications must be submitted through NEAPS portal path: NEAPS>>Compliance>>Fine Waiver>>Waiver Request (email requests not considered)
  • Detailed submission indicating reasons for waiver required
  • Compliance is a pre-requisite for applying for waiver
  • Non-refundable processing fees of ₹10,000 plus 18% GST required if fine amount exceeds ₹5,000 exclusive of GST
  • For multiple regulation non-compliance, single application covering all regulations and quarters required

Company Response

The Company has:

  • Sent waiver request letters to both Stock Exchanges dated 29.05.2026 requesting waiver of fines
  • Placed the matter before the Board of Directors on 06.08.2026 as required
  • Made consistent requests to Ministry of Ports, Shipping and Waterways for appointment of required Independent Directors