Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI LODR Regulations’), Cochin Shipyard has informed that, the company has received Notices from the stock exchanges imposing fine for non-compliance with SEBI LODR Regulations, the details of which are enclosed. The company is a Central Public Sector Enterprise under the administrative control of the Ministry of Ports, Shipping and Waterways, Government of India. Accordingly, the power to appoint Directors on the Board of the Company vests with the Government of India. The Company has forwarded necessary requests to the Government of India for appointing sufficient number of independent directors and constant efforts are being made to meet the compliance requirements. Further, the audit committee and nomination and remuneration committee will be duly constituted in line with the SEBI LODR Regulations once sufficient number of independent directors are appointed by the Government of India. In view of the fact that the said non-compliances were neither due to the negligence/ default by the Company nor within the control of the management of the Company, appropriate requests for waiver of fines imposed will be filed with the stock exchanges in due course as per the extant Policy for Exemption of Fines.