Key Quantitative Figures

  • Total fine imposed: ₹12,04,780 (including 18% GST)
  • Breakdown of fines by regulation:
  • Regulation 17(1): ₹5,36,900 (₹5,000 per day basic fine + GST)
  • Regulation 17(2): ₹11,800 (₹10,000 per instance basic fine + GST)
  • Regulation 18(1): ₹2,14,760 (₹2,000 per day basic fine + GST)
  • Regulation 19(1)/19(2): ₹2,14,760 (₹2,000 per day basic fine + GST)
  • Regulation 20(2)/(2A): ₹2,14,760 (₹2,000 per day basic fine + GST)

Dates of Action

  • Notice received: August 25, 2026 (via email from BSE)
  • Disclosure filed: August 27, 2026
  • Period of non-compliance: Quarter ended June 30, 2026
  • Payment deadline: Within 15 days from August 25, 2026

Parties Involved

  • The State Trading Corporation of India Ltd. (STC)
  • BSE Limited (Exchange)
  • Ministry of Commerce & Industry (Administrative Ministry)
  • Compliance Officer: CS Ritu Bhatia

Stated Rationale and Response

The company has requested the Exchange to waive off the fine since STC is a Public Sector Undertaking and the power to appoint Directors including Independent Directors is under the purview of the Administrative Ministry (Ministry of Commerce & Industry). The Company is following up with the Ministry from time to time for appointing requisite number of Independent Directors on its Board.

Potential Consequences

  • Failure to pay fines within 15 days may result in freezing of the entire shareholding of the promoter in the entity
  • Continued non-compliance for a second consecutive quarter may result in transfer to Z group and suspension of trading of equity shares
  • The matter must be placed before the Board of Directors in the next meeting, with comments informed to the Exchange

Additional Requirements

The company must submit fine remittance details in the specified format (Annexure I) to bse.soplodr@bseindia.com, including UTR number, date of payment, amount paid, and TDS details if any.

Payment Instructions

Remittance must be made to BSE Limited's virtual bank account:

  • Bank: ICICI Bank Ltd. - CMS Branch
  • Account No.: BSER03038
  • IFSC Code: ICIC0000104

Note: This bank account is specifically dedicated to SOP fine and waiver fees only.