Date: 27.08.2026

Board Meeting Outcomes

The Board of Directors discussed the matter of non-compliance with SEBI (LODR) Regulations, 2015 at their meeting held on 04.08.2026. The Board noted that:

  • National Stock Exchange of India Limited (NSE) and BSE Limited have levied fines of ₹9,55,800 each (inclusive of 18% GST) for non-compliance with Regulations 17(1), 18(1) and 19(1)/19(2) of SEBI (LODR) Regulations, 2015 during the period from 01.01.2026 to 31.03.2026 (Q4 FY 2025-26)
  • The specific non-compliances were: failure to appoint woman director, failure to appoint independent directors, and non-compliance with constitution of Audit Committee and Nomination and Remuneration Committee
  • SCILAL 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
  • The Company had sent various letters to MoPSW, latest being dated 29.05.2026 and 14.07.2026, requesting appointment of requisite number of Independent directors and woman director
  • Appointment of requisite number of independent directors including woman director is under active consideration of the Ministry

Fine Details

The fine breakdown from NSE notice dated 27.05.2026 (Ref: NSE/LIST-SOP/COMB/FINES/0611):

  • Regulation 17(1): ₹5,000 per day × 90 days = ₹4,50,000
  • Regulation 18(1): ₹2,000 per day × 90 days = ₹1,80,000
  • Regulation 19(1)/19(2): ₹2,000 per day × 90 days = ₹1,80,000
  • Subtotal: ₹8,10,000
  • GST @18%: ₹1,45,800
  • Total Fine Payable: ₹9,55,800

Note: If the Company remains non-compliant as of the date of the letter, the fine amount continues to increase daily until compliance is achieved.

Waiver Request

The Company has sent a request letter dated 29.05.2026 to respective Stock Exchanges to waive-off the fine levied.

Regulatory Requirements

The Company was required to place the non-compliance and subsequent action before the Board in the next Board Meeting and inform the Exchange of the Board's comments through the NEAPS portal under the path: NEAPS > COMPLIANCE > Announcements > Announcements/CA (Subject: Updates).

Compliance Officer

Shri Mohammad Firoz, Company Secretary and Compliance Officer, signed the submission to NSE.