Shipping Corporation of India Faces Fines from Stock Exchanges; Smt. Bharati Raman Gotarna Appointed as Independent Director
The Shipping Corporation Of India Limited (SCI), a Government of India Enterprise, has been assessed penalties by both BSE Limited and National Stock Exchange of India Limited (NSE) regarding non-compliance matters during the quarter ended 30.06.2026. Concurrently, the company has appointed Smt. Bharati Raman Gotarna as a Non-official (Independent) Director (NoD) on its Board.The fines levied by each stock exchange totaled Rs 13,10,980/- (inclusive of 18% GST), covering various aspects of corporate governance.
The non-compliance areas identified and the corresponding fine amounts assessed by each Stock Exchange are detailed in the table below:
| Regulation | Particulars | Fine Amount (Including 18% GST) |
|---|---|---|
| Regulation 17(1) | Non-compliance regarding the composition of the Board, including failure to appoint a woman director. | 5,36,900 |
| Regulation 17(2A) | Non-compliance regarding the quorum of Board meetings. | 11,800 |
| Regulation 18(1) | Non-compliance with the constitution of the audit committee. | 1,91,160 |
| Regulation 19(1)/19(2) | Non-compliance with the constitution of the nomination and remuneration committee. | 1,91,160 |
| Regulation 20(2)/(2A) | Non-compliance with the constitution of the stakeholder relationship committee. | 1,91,160 |
| Regulation 21(2) | Non-compliance with the Constitution of risk management committee. | 1,88,800 |
| TOTAL | TOTAL | 13,10,980 |
The company stated that these actions do not have a significant impact on its financial, operational, or other activities.
Director Appointment and Governance Reconstitution
In a move toward strengthening corporate governance, the Appointments Committee of the Cabinet (ACC), based on a recommendation dated 09.06.2026 from the Search Committee, approved the proposal of the Ministry of Ports, Shipping and Waterways for the appointment of Smt. Bharati Raman Gotarna.Smt. Bharati Raman Gotarna is set to serve as a Non-official (Independent) Director (NoD) on the Board of The Shipping Corporation of India Limited for a period of three years. This appointment, effective from 19.08.2026, allowed the company to re-constitute its Statutory Board-level Committees.
Consequently, the Stakeholders Relationship Committee and Risk Management Committee are now in compliance with the provisions of relevant regulations and applicable guidelines, effective from 19.08.2026. The company has also complied with the requirement of having a woman Independent Director on its Board.
The Shipping Corporation of India Limited (SCI) confirmed that, as a Navratna Public Sector Undertaking (PSU), it is coordinating with the Competent Authority for the appointment of the requisite number of Independent Directors. Once the necessary independent directors are appointed, the company will reconstitute the Audit Committee and the Nomination and Remuneration Committee in compliance with regulations.
The company is currently in the process of submitting request letters regarding this matter to both stock exchanges.
SCI Stock Price Movement
As of 12:35 PM, shares of Shipping Corporation Of India Limited are slipping by 0.14% in live trading, currently resting at ₹287.7 as the stock sheds ₹0.40. The equity has seen a total traded volume of 849,013 shares during the active market session.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.