Cochin Shipyard fined ₹19.11 Lacs by BSE & NSE for governance lapses

Cochin Shipyard Limited has been fined ₹9,55,800 each by BSE and NSE, totaling ₹19.11 Lacs, for non-compliance with SEBI LODR Regulations during the quarter ended March 31, 2026. The violations include the absence of sufficient independent directors and improper constitution of the audit and nomination & remuneration committees. The company, a Central Public Sector Enterprise, states that the power to appoint directors rests with the Government of India and that it has already requested the government to appoint independent directors. Cochin Shipyard plans to seek a waiver of these fines, arguing that the non-compliance was beyond its management's control. The company expects no financial impact beyond the fines, for which waivers will be sought.