NSE Imposes Fine of ₹12,04,780 on State Trading Corporation over Independent Director Shortage
The State Trading Corporation of India Limited (STC) has received a notice from the National Stock Exchange of India (NSE) concerning non-compliance with listing regulations, leading to the imposition of a fine totaling ₹12,04,780.The fine relates to the non-compliance observed during the quarter ended June 30, 2026, specifically regarding the lack of a requisite number of Independent Directors on the company's Board.
In response to the notice, STC has requested the Exchange to waive the fine, citing the company’s status as a Public Sector Undertaking. STC stated that the power to appoint Directors, including Independent Directors, falls under the purview of the Administrative Ministry, and the company is currently following up with the Ministry of Commerce & Industry for the appointment of the requisite directors.
The National Stock Exchange of India detailed the grounds for the fine, which spanned multiple regulations, including Regulation 17(1), 18(1), 19, 20(2)/(2A), Regulation 17(2), and Regulation 17(2A), all pertaining to the period ended June 30, 2026.
The total fine amount, calculated inclusive of GST, is ₹12,04,780.
The breakdown of the non-compliance and the resulting fines is as follows:
| Regulation | Quarter | Fine Amount (Rs.) | Days/Instances |
|---|---|---|---|
| REGULATION 17(1) | 30-Jun- 2026 | 455,000 | 91 |
| REGULATION 18(1) | 30-Jun- 2026 | 182,000 | 91 |
| REGULATION 19(1)/19(2) | 30-Jun- 2026 | 182,000 | 91 |
| REGULATION 20(2)/(2A) | 30-Jun- 2026 | 182,000 | 91 |
| REGULATION 17(2A) | 30-Jun- 2026 | 10,000 | 1 |
| REGULATION 17(2) | 30-Jun- 2026 | 10,000 | 1 |
| Total Fine Payable (Inclusive of GST) | 12,04,780 |
STCINDIA Stock Price Movement
At 12:45 PM today, The State Trading Corporation of India Limited sheds value, with stock prices sliding 2.43% and currently trading at ₹118.65. A total of 37,763 shares have been traded as the equity approaches its intraday low of ₹118.5.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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