STC fined ₹11.91 lakh by BSE for Q4FY26 non-compliance

The State Trading Corporation of India Limited has been fined ₹11,91,800 by BSE Limited for failing to maintain the requisite number of Independent Directors on its Board during the quarter ended March 31, 2026. The penalty, which includes 18% GST, was imposed following a notice dated May 27, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The exchange identified non-compliance with several provisions of the SEBI (LODR) Regulations, 2015, specifically Regulations 17(1), 17(1A), 17(2), 17(2A), 18(1), 19(1)/19(2), and 20(2)/20(2A). These regulations mandate the composition and functioning of the Board of Directors, including the requirement for Independent Directors.

Details of the Penalty

The disclosure submitted by state trading corporation of india outlined the specific period and financial impact of the regulatory action.

Period of Non-Compliance	Amount of Fine (including GST @18%)
Quarter ended on 31 March, 2026	₹11,91,800/- from BSE

The company stated that the fine relates solely to the gap in Independent Director count for the specified quarter. Compliance with the Board composition requirements is a critical governance standard under the SEBI framework.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.58%	+5.88%	+3.15%	+3.06%	-11.73%	+36.23%

The State Trading Corporation of India Limited has delayed its board meeting to approve the audited annual financial results for the fiscal year ended March 31, 2026, due to an insufficient number of directors. The company disclosed that its Board of Directors is presently incomplete, with the number of directors falling below the minimum strength required to constitute a valid board as per its Articles of Association.

The intimation was submitted to the exchanges on May 25, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing, signed by Company Secretary & Compliance Officer Ritu Bhatia, confirmed that the shortfall prevents the board from meeting to consider and adopt the financial results.

Reason for Delay

According to the Articles of Association of state trading corporation of india , a minimum of four directors is required to form a valid board. However, the company currently has only two directors in position. This shortfall prevents the board from meeting to consider and adopt the financial results.

Future Intimation

The company has indicated that the specific date for the board meeting to consider the Annual Audited Financial Results for the year ended March 31, 2026, will be intimated in due course. The announcement will be made once the board is reconstituted and the necessary quorum is achieved.