Details of Fine for Non-Compliance with requirements pertaining to composition of Board and Constitution of Committees for the Quarter ended 31.03.2026 is submitted.
HINDCOPPER · price
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Hindustan Copper Ltd has been fined Rs.9,55,800 each by BSE and NSE for non-compliance with SEBI (LODR) Regulations for the quarter ended 31.03.2026. The violations relate to Regulation 17(1) (Board composition) - Rs.4,50,000 fine, Regulation 18(1) (Audit Committee) - Rs.1,80,000 fine, and Regulation 19(1)/(2) (Nomination and Remuneration Committee) - Rs.1,80,000 fine, totalling Rs.8,10,000 plus 18% GST. The company, being a Government Company, stated that Board appointment powers rest with the President of India through the Ministry of Mines. HCL has written to the Ministry for required director appointments and plans to seek waiver of the fines once compliance is achieved, stating there is no financial impact as operations remain unaffected.
The fine of approximately Rs.19.12 lakh total is relatively small for a listed company but highlights governance issues. The company is seeking waiver, and the underlying issue of incomplete Board composition remains unresolved pending government action, which may create some investor concern about corporate governance standards.