The State Trading Corporation of India Limited has appointed Shri Raghvendra Singh (IA&AS:2013), Deputy Secretary, Department of Commerce, to the additional charge of Director (Finance) at STC Limited. The appointment is valid for a period of one year from the date of taking charge or until further orders, whichever is earlier. This decision follows the completion of Ms. Anoopa Shankarankutty Nair's tenure as Director (Finance), which concluded on June 4, 2026, after her one-year additional charge period.

Appointment Details

The Department of Commerce, Ministry of Commerce & Industry, issued Office Order No. A-12022/5/2017-E-IV dated June 5, 2026, sanctioning the appointment. The order was received by the company on June 8, 2026. Shri Raghvendra Singh holds the additional charge of Director (Finance) at STC Limited alongside the additional charge of Director (Marketing) at PEC Ltd., in addition to his existing responsibilities as Deputy Secretary. The appointment was issued with the approval of the Hon'ble Minister of Commerce & Industry and was signed by Sumit Kumar Sachan, Under Secretary to the Government of India.

Effective Date and Compliance

The company clarified that the appointment of Shri Raghvendra Singh will be effective after the completion of requisite formalities. The exact date of his appointment on the Board of STC Limited is yet to be confirmed and will be intimated to the exchanges. Ritu Bhatia, Company Secretary & Compliance Officer of The State Trading Corporation of India Limited, communicated the intimation to the National Stock Exchange of India Limited and BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

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.