Tax & Penalty27 May 2026, 10:22 pm
SCILAL Fined ₹9.56 Lakh by BSE & NSE for Non-Compliance
AI Summary
Shipping Corporation of India Land and Assets Ltd (SCILAL) has been fined ₹9,55,800 each by BSE and NSE for non-compliance with regulations 17(1), 18(1), and 19(1)/19(2) during the quarter ended March 31, 2026. The non-compliance pertains to the composition of the Board, Audit Committee, and Nomination & Remuneration Committee. SCILAL is coordinating with the Competent Authority for the appointment of requisite Independent Directors and plans to request a waiver of the fine.
Key Highlights
- SCILAL fined ₹9.56 Lakh each by BSE and NSE for regulatory non-compliance.
- Non-compliance relates to Board and committee composition requirements.
- The company is seeking a waiver for the fine from both stock exchanges.
- SCILAL is coordinating for appointment of Independent Directors.
- The company states the action does not have significant financial impact.