SCILAL Fined by BSE and NSE for Board and Committee Non-Compliance

Shipping Corporation of India Land and Assets Limited ( (IN:SCILAL) ) has issued an announcement.

Shipping Corporation of India Land and Assets Limited has disclosed that both BSE and NSE have levied fines of Rs. 9,77,040 each for non-compliance with several SEBI Listing Regulations in the quarter ended December 31, 2025. The penalties relate to board composition, including the absence of a woman director, and non-compliant structures of the audit and nomination and remuneration committees.

The company stated that the fines do not have a significant impact on its financial or operational activities and highlighted steps taken toward rectification, including appointing an independent director in April 2025 and constituting all statutory board-level committees. However, full compliance is still pending due to an inadequate number of independent directors, and as a PSU, SCILAL is coordinating with the competent authority to complete these appointments while also planning to seek a waiver of the imposed fines from both exchanges.

More about Shipping Corporation of India Land and Assets Limited

Shipping Corporation of India Land and Assets Limited (SCILAL) is a public sector undertaking focused on managing land and related assets carved out of the Shipping Corporation of India. As a listed entity on BSE and NSE, it operates under SEBI’s listing framework and is required to maintain prescribed board and committee structures, including independent and woman directors, to meet corporate governance norms.

Average Trading Volume: 27,908

Technical Sentiment Signal: Sell

Current Market Cap: 20.85B INR

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