The State Trading Corporation of India Limited has been fined ₹11,91,800 by the National Stock Exchange of India (NSE) 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 levied for non-compliance with specific provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This financial penalty underscores the regulatory importance of board composition for listed entities.

The NSE issued a notice to state trading corporation of india on May 27, 2026, identifying breaches under Regulations 17(1), 17(2), 17(2A), 18(1), 19(1)/19(2), and 20(2)/20(2A). These regulations mandate the structure and composition of a company's Board, including the requirement for Independent Directors. The non-compliance specifically pertains to the governance shortfall observed in Q4FY26.

Details of the Penalty

The disclosure submitted to the exchanges outlined the specific period and the financial implication of the regulatory lapse. The company confirmed that the information was relayed to the stock exchanges on the first working day following the receipt of the notice.

The State Trading Corporation of India Limited informed both the NSE and BSE about the imposition of the fine. The filing, signed by Company Secretary & Compliance Officer CS Ritu Bhatia, confirmed that the notice was received via email on the evening of May 27, 2026. The company stated that the disclosure was made immediately upon receipt of the communication.

The State Trading Corporation of India Limited has appointed Shri Nitin Kumar Yadav as the Chairman and Managing Director (CMD) for a period of one year. The appointment, conveyed via an office order from the Department of Commerce, is effective from April 28, 2026, to April 27, 2027. Yadav will hold the additional charge of the CMD post in addition to his existing responsibilities until further orders, whichever is earlier.

Shri Nitin Kumar Yadav is an IAS officer from the 2000 batch (HR:2000) and currently serves as the Additional Secretary in the Department of Commerce. The appointment is an extension of the Department's previous Office Order dated April 24, 2025. The government issued the order with the approval of the Hon'ble Minister of Commerce & Industry.

The intimation was submitted to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was made by Ritu Bhatia, Company Secretary & Compliance Officer of state trading corporation of india .

Appointment Details