Hindustan Copper Limited has informed the Exchange regarding 'Board Comments on Fine Levied by the Exchanges for the Quarter Ended 30.09.2025'.
HINDCOPPER · price
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Hindustan Copper Limited (HCL) received notices from BSE and NSE imposing a fine of Rs. 9,77,040 each (total ~Rs. 19.54 lakhs) for non-compliance with SEBI LODR Regulations 2015, specifically relating to Board composition (Regulation 17(1)) and constitution of Audit and Nomination & Remuneration Committees (Regulations 18(1) and 19(1) & (2)) for the quarter ended 30 September 2025. HCL explained that as a Government Company, the power to appoint Directors rests with the President of India through the Ministry of Mines, and the request to appoint five part-time non-official/Independent Directors is currently under consideration. The Board, at its 457th meeting on 31 December 2025, advised the management to seek exemption from the fine under the Uniform Carve Out Policy of the Exchanges and to pursue the matter with the Ministry and the Exchanges.
The combined fine of roughly Rs. 19.5 lakhs is financially insignificant for a company of HCL's size and is unlikely to affect share price or shareholder value. This is a routine corporate governance issue commonly seen in government companies awaiting director appointments from the relevant Ministry, and the company is actively seeking an exemption.