Corporate Governance9 Sept 2026, 11:59 am
Cochin Shipyard Fined ₹9.66 Lakhs for Non-Compliance
AI Summary
Cochin Shipyard Ltd has been fined Rs. 9,66,420 each by BSE and NSE for non-compliance with SEBI LODR Regulations regarding the composition of its Board of Directors and committees. The company acknowledged that the appointment of directors is the Government of India's prerogative. Following the appointment of Dr. Vani Ahluwalia as an Independent Director, the company reconstituted its Audit and Nomination Committees. The Board advised filing waiver requests for the fines once full compliance is achieved, noting that the appointment of four additional independent directors is still awaited from the Government.
Key Highlights
- Cochin Shipyard fined Rs. 9.66 lakhs by BSE and NSE for regulatory non-compliance.
- Non-compliance related to independent director appointments and committee compositions.
- Company acknowledges Government of India's role in director appointments.
- Audit and Nomination Committees reconstituted after new director's appointment.
- Waiver requests for fines to be filed upon achieving full compliance.
Price Impact
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