Pursuant to regulation 24A of SEBI LODR Regulations, 2015, Annual Secretarial Compliance Report of Hindustan Copper Ltd for the year ended 31st March, 2025 issued by M/s S Basu & Associates, ....
HINDCOPPER · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Hindustan Copper Ltd filed its Annual Secretarial Compliance Report (under SEBI LODR Regulation 24A) for FY25, audited by M/s S Basu & Associates. The Practicing Company Secretary flagged non-compliance with Regulation 17(1) on board composition: independent directors were below 50% of the board for the full year (01.04.2024 to 31.03.2025), no independent woman director from 22.03.2025 to 31.03.2025, and the board had fewer than the required 6 directors from 03.11.2024 to 31.03.2025. As a result, BSE and NSE each imposed a fine of Rs. 21,59,400. Committee composition under Regulations 18, 19, 20 and 21 was also non-compliant for parts of the year due to insufficient independent directors. HCL explained that, as a government company, all director appointments are made by the President of India via the Ministry of Mines, and it has requested the Ministry to fill vacancies and the exchanges to waive the fines. All other compliance items (secretarial standards, policies, website disclosures, insider trading, related party transactions, event disclosures) were found satisfactory.
Reiterates a long-standing governance gap at this PSU — vacant board positions due to delays in government appointments. The Rs 21.59 lakh fine from each exchange is small but signals persistent non-compliance, which minority shareholders and governance-focused investors may view negatively until board composition is restored.