Hindustan Copper Limited has informed the Exchange regarding 'Board Comments on fine levied by the exchanges for the quarter ended 31.12.2025'.
HINDCOPPER · price
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BSE and NSE have each levied a fine of Rs. 9,77,040 (total ~Rs. 19.54 lakhs) on Hindustan Copper for non-compliance with SEBI (LODR) Regulations 2015 regarding the composition of its Board and constitution of committees for the quarter ended 31 December 2025. The non-compliance is because the company is a Government undertaking and the appointment of Independent Directors lies with the President of India through the Ministry of Mines, which is still under consideration. The Board, in its 460th meeting on 16 March 2026, has advised seeking exemption from the fine under the Exchanges' Uniform Carve Out Policy. The company has also written to the Ministry of Mines to expedite the filling of vacant director posts.
The fine amount is immaterial for a company of HCL's size and is a procedural issue arising from the Government-controlled director appointment process, not a governance failure by management. The company is actively seeking exemption, so shareholders should not expect any meaningful financial or reputational impact.