Date: 27.05.2026
Regulatory Action Disclosure
The Shipping Corporation of India Ltd. (SCI) has received fines from both stock exchanges:
- BSE Limited: Email dated 27.05.2026, fine of ₹5,31,000 (₹4,50,000 plus 18% GST)
- National Stock Exchange of India Limited: Email dated 27.05.2025, fine of ₹5,31,000 (₹4,50,000 plus 18% GST)
Reason for Fine
The fines were levied for non-compliance with Regulation 17(1) of SEBI Listing Regulations regarding Composition of Board of Directors.
Impact Assessment
The company states that this action "does not have significant impact on financial, operational or other activities of the Company, quantifiable in monetary terms to the extent possible."
Company Response and Status
SCI, being a Navratna Public Sector Undertaking (PSU), is coordinating with the Competent Authority for appointment of:
- Requisite number of Independent Directors
- Independent Women Director
The Competent Authority has the exclusive power to nominate Directors on the Board of SCI.
The Company is in the process of submitting request letters to both stock exchanges regarding this matter.
Event Timing
Date and time of occurrence of event: 27.05.2026 at:
- 1704 hours IST from BSE
- 2033 hours IST from NSE