Hindustan Copper Limited has informed the Exchange regarding 'Boards comments on fine levied by the exchanges'.
HINDCOPPER · price
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BSE and NSE each imposed a fine of Rs. 5,42,800 on Hindustan Copper for non-compliance with SEBI's LODR Regulation 17(1) regarding the composition of its Board for the quarter ended 31 December 2024. The company explained that as a Government of India enterprise, the power to appoint directors lies with the President of India acting through the Ministry of Mines, and the matter of filling vacant director positions is under consideration. The Board, at its 449th meeting on 30 April 2025, advised the management to seek exemption from the fine under the Exchanges' Uniform Carve Out Policy and to escalate the director appointment request to the Ministry.
The fine is small (about Rs. 10.85 lakh combined) and the company is actively seeking exemption, so direct financial impact is minimal. However, the recurring Board composition gap reflects a governance compliance issue that investors should monitor, as prolonged non-compliance could attract further penalties or action.