Shipping Corporation of India Ltd legal head moves to NFRA

shipping corporation of india has announced the cessation of Mr. Panduranga Vittal Pamidimokkala from the position of Chief Manager (Law) and Head-Legal. The change is effective from July 22, 2026, as he has been deputed to the National Financial Reporting Authority (NFRA) on a short-term contract basis to serve as Executive Director. This information was submitted to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The disclosure was made pursuant to Schedule III of the SEBI Listing Regulations and follows the requirements outlined in SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company confirmed that the event occurred at 23:59 Hrs IST on July 22, 2026.

Details of Change in Senior Management

The following table details the change in the senior management personnel:

Sr No.	Name of Senior Management Personnel	Designation	Reason for Change	Appointment/ Cessation	Date & Time of Occurrence of Event
1.	Mr. Panduranga Vittal Pamidimokkala	Chief Manager (Law) Head-Legal	Deputation from SCI to the post of Executive Director in NFRA on short term contract basis.	Cessation	22.07.2026 at 23:59 Hrs IST

The filing was submitted by Swapnita Vikas Yadav, Company Secretary and Compliance Officer of Shipping Corporation of India Ltd, on July 23, 2026.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.02%	-6.54%	-16.71%	+29.60%	+24.09%	+138.66%

The Shipping Corporation of India board has formally responded to penalties levied by National Stock Exchange of India Limited and BSE Limited for non-compliance with board composition regulations during the quarter ended December 31, 2025. The fines, amounting to ₹5,42,800 each inclusive of 18% GST, were imposed for violations of Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board noted that as a Public Sector Undertaking, the power to appoint or remove directors rests solely with the Ministry of Ports, Shipping and Waterways, causing delays in inducting independent directors.

The board discussed the matter at a meeting held on May 8, 2026, acknowledging the notices received from both exchanges. The Shipping Corporation of India confirmed that waiver request letters were emailed to the exchanges on March 5, 2026. The company stated it is consistently requesting the ministry to appoint the requisite number of independent directors, including a woman independent director, to ensure compliance with SEBI Listing Regulations.

Penalty Breakdown

Exchange	Base Fine	GST	Total Fine Payable
BSE Limited	₹4,60,000	18%	₹5,42,800
National Stock Exchange of India Limited	₹4,60,000	18%	₹5,42,800

The National Stock Exchange of India Limited detailed that the fine was calculated at ₹5,000 per day for 92 days of non-compliance. The exchange informed the company that the fine amount would continue to accrue daily until compliance is achieved. The company has been advised to ensure compliance with the regulations before applying for a waiver, which requires a non-refundable processing fee of ₹10,000 plus 18% GST if the fine exceeds ₹5,000 exclusive of GST.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE109A01011/8c5a7d2ed454432f.pdf