SCILAL fined ₹9.56 lakh each by BSE and NSE for board non-compliance

Shipping Corporation of India Land and Assets Limited has disclosed fines totaling ₹9,55,800 each from BSE Limited and National Stock Exchange of India Limited for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 during the quarter ended 31.03.2026. The penalties, comprising ₹8,10,000 plus 18% GST, were imposed for failures related to board composition and the constitution of required committees. The company stated that these actions do not have a significant impact on its financial or operational activities.

Non-compliance details

The exchanges identified violations of specific regulations for the period ending 31.03.2026. The company failed to comply with requirements regarding the composition of the Board, including the failure to appoint a woman director under Regulation 17(1). Additionally, there was non-compliance with the constitution of the Audit Committee under Regulation 18(1) and the Nomination and Remuneration Committee under Regulation 19(1)/19(2).

Regulation	Particulars	Fine Amount (Including 18% GST) levied by each Stock Exchange (Rs.)
Regulation 17(1)	Non-compliance with Board composition / woman director	5,31,000
Regulation 18(1)	Non-compliance with Audit Committee constitution	2,12,400
Regulation 19(1)/ 19(2)	Non-compliance with Nomination and Remuneration Committee constitution	2,12,400
TOTAL		9,55,800

Company response and status

sci land & assets noted that following the appointment of Prof. (Dr.) K. Jayaprasad as a Non-Official Independent Director on 15.04.2025, it constituted all statutory Board-level Committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, and Risk Management Committee. However, the composition of the Audit Committee and Nomination and Remuneration Committee is yet to fully comply with statutory requirements due to the absence of the requisite number of Independent Directors.

The company, being a Public Sector Undertaking (PSU), is coordinating with the Competent Authority for the appointment of the requisite number of Independent Directors. It is currently in the process of submitting request letters to both stock exchanges seeking a waiver of the levied fine. The event occurred on 27.05.2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.17%	-1.71%	+0.84%	-4.92%	-14.21%	+2.39%

sci land & assets (SCILAL), a Government of India Enterprise, has entered into a Memorandum of Understanding (MOU) with NBCC (India) Limited for the upgradation, construction, and renovation of infrastructure at the Maritime Training Institute, Powai. The institute is an asset owned by SCILAL. The development was disclosed to stock exchanges pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

MOU with NBCC (India) Limited

The MOU was signed between the Shipping Corporation of India (SCI) and NBCC (India) Limited, covering upgradation, construction, and renovation works at the Maritime Training Institute, Powai. The key details of the announcement are presented below:

Parameter:	Details
Parties Involved:	Shipping Corporation of India (SCI) and NBCC (India) Limited
Nature of Agreement:	Memorandum of Understanding (MOU)
Scope of Work:	Upgradation, construction, and renovation of infrastructure
Facility:	Maritime Training Institute, Powai
Asset Owner:	Shipping Corporation of India Land and Assets Limited (SCILAL)
Date and Time of Event:	06.05.2026 at 1600 hours IST

Regulatory Disclosure

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was submitted by Shri Mohammad Firoz, Company Secretary and Compliance Officer of Shipping Corporation of India Land and Assets Limited, and was addressed to the Listing Compliance Departments of BSE Limited and the National Stock Exchange of India Limited.