SCI Land & Assets Fined ₹26.7 Lakhs by BSE & NSE for Compliance Lapses
Shipping Corporation of India Land and Assets Ltd (SCILAL) has been levied a total fine of ₹13,36,940 by both BSE Limited and National Stock Exchange of India Limited for non-compliance with SEBI LODR Regulations during the quarter ended June 30, 2026. The lapses include issues with Board composition, quorum, and the constitution of various committees like Audit, Nomination & Remuneration, Stakeholders Relationship, and Risk Management. These non-compliances arose due to the absence of requisite Independent Directors. SCILAL is coordinating with the Competent Authority for appointing Independent Directors and plans to request a waiver for the fines. The company states the action will not have a significant impact on its financials or operations.
Key Highlights
- SCILAL fined ₹13.36 Lakhs by BSE and NSE each for regulatory non-compliance.
- Lapses include Board composition, quorum, and committee constitution issues.
- Non-compliance stemmed from a shortage of Independent Directors.
- Company is seeking waiver and appointment of new directors.
- No significant financial or operational impact expected.
Price Impact
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