State Trading Corporation of India has been fined ₹1,53,400 each by the Bombay Stock Exchange and National Stock Exchange for non-compliance with disclosure norms. The penalties stem from the company's failure to submit financial results for the quarter ended June 30, 2026, within the prescribed period.

The fines were imposed under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both exchanges cited the Standard Operating Procedure for penal actions regarding non-compliance with listing regulations.

Penalty Breakdown

The penalty structure applied by both exchanges is identical. The base fine was calculated at ₹5,000 per day for 26 days of non-compliance, totaling ₹1,30,000. An 18% Goods and Services Tax (GST) of ₹23,400 was added to this amount.

The total payable amount per exchange stands at ₹1,53,400. The notices indicate that the fine amount continues to increase daily until compliance is achieved or trading is suspended.

Compliance Requirements

The company must remit the fine amounts within 15 days from the date of the notices issued on September 11, 2026. Failure to pay may result in the freezing of promoter shareholding and other securities held in demat accounts.

Additionally, if this constitutes the second consecutive year of non-compliance for Regulation 33, the company faces transfer to the Z group and potential suspension of equity share trading. The Board of Directors must place the subject matter before its next meeting and communicate comments to the exchanges.

What the Numbers Show

The penalty reflects a 26-day delay in statutory reporting. With a daily penalty rate of ₹5,000, the base fine of ₹1,30,000 represents a direct cost of compliance failure. The inclusion of 18% GST increases the effective daily cost to approximately ₹5,900, highlighting the escalating financial impact of prolonged delays in regulatory filings.

State Trading Corporation of India has been penalised ₹12,04,780 each by the National Stock Exchange and BSE for non-compliance with independent director requirements. The fines cover the quarter ended June 30, 2026.

The exchanges issued notices on August 25, 2026, citing violations of multiple provisions under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company disclosed the event on August 26, 2026, regarding the NSE penalty and on August 27, 2026, regarding the BSE penalty.

Penalty Breakdown

The total fine from each exchange includes an 18% GST component. The base penalty was calculated based on daily non-compliance charges and specific instance fees across five regulations. The non-compliance period lasted 91 days for most violations.

Company Response

The State Trading Corporation of India has requested a waiver of the fines from both exchanges. The company stated that as a Public Sector Undertaking, the power to appoint directors, including Independent Directors, lies with the Administrative Ministry, specifically the Ministry of Commerce & Industry.

The company noted it is following up with the Ministry to appoint the requisite number of Independent Directors. The exchange notices require payment within 15 days or the filing of a waiver application through the NEAPS portal, subject to a non-refundable processing fee of ₹10,000 plus GST if the fine exceeds ₹5,000 exclusive of GST.

What the Numbers Show

The majority of the financial penalty stems from Regulation 17(1), which accounts for ₹455,000 of the ₹10.21 lakh base fine per exchange. This single regulation contributes approximately 44.5% of the total pre-tax penalty, highlighting the severity attached to the core composition requirement compared to other procedural lapses under Regulations 18, 19, and 20.