Shipping Corporation of India Land and Assets Faces Fines for Non-Compliance with Listing Regulations
Shipping Corporation of India Land and Assets Limited (SCILAL), a Public Sector Undertaking, has issued comments regarding fines levied by the National Stock Exchange of India Limited (NSE) and BSE Limited for non-compliance with listing requirements.The board placed the matter before its directors at a meeting on May 5, 2026, taking note of the notices from both stock exchanges.
Details of Fines and Non-Compliance
According to the board, NSE and BSE each issued notices levying a fine amounting to Rs. 9,77,040/- (inclusive of 18% GST). These fines relate to non-compliance with requirements specified under SEBI (LODR) Regulations, 2015, covering the period from October 1, 2025, to December 31, 2025, which corresponds to the third quarter of FY 2025-26.
The notices cited non-compliance under Regulations 17(1), 18(1), and 19 of the SEBI (LODR) Regulations, 2015. The lapses were specifically attributed to the non-appointment of Independent Directors, including a woman director, and failure to constitute statutory committees.
The detailed calculation of the fine payable, as provided in the notice, was:
| Regulation | Quarter | Fine amount per day (Rs.) / Fine amount per instance (Rs.) | No. of days of non- compliance / No. of instance(s) | Fine amount (Rs.) |
|---|---|---|---|---|
| REGULATION 17(1) | 31-Dec- 2025 | 5000 | 92 | 460000 |
| REGULATION 18(1) | 31-Dec- 2025 | 2000 | 92 | 184000 |
| REGULATION 19(1)/19(2) | 31-Dec- 2025 | 2000 | 92 | 184000 |
| Total Fine | Total Fine | Total Fine | Total Fine | 828000 |
| GST @18% | GST @18% | GST @18% | GST @18% | 149040 |
| Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | 977040* |
*The fine amount will continue to increase every day if the company remains non-compliant.
Steps Taken by the Company
The board confirmed that SCILAL, being a Public Sector Undertaking, has approached the Administrative Ministry (MoPSW). The company, vide letters dated March 4, 2026, and March 26, 2026, requested the MoPSW to appoint the requisite number of Independent Directors and a woman director to the Board. The company noted that the Ministry is actively considering the appointment of these directors.
In addition, SCILAL also sent a request letter dated March 2, 2026, to the respective Stock Exchanges requesting a waiver of the levied fine.
SCILAL Stock Price Movement
Today, Shipping Corporation of India Land and Assets Limited shares edged higher to close at ₹45.86, achieving a 0.99% gain in post-market trading. The equity settled today with a total traded volume of 456,796 shares.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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