Annual Secretarial Compliance Report is hereby submitted
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Hindustan Organic Chemicals Limited (HOCL), a CPSE under Ministry of Chemicals & Fertilizers, submitted its Annual Secretarial Compliance Report for FY 2025-26. The key finding is that the company has failed to comply with SEBI LODR regulations regarding board composition — specifically, it lacks the required number of Independent Directors including a Woman Independent Director on its Board. BSE has levied cumulative fines of approximately Rs 20.36 lakh across multiple quarters (Q1 FY25 to Q4 FY25) for non-compliance with Regulations 17(1), 17(2A), 18(1), 19(1)/(2), and 20(2)/(2A). The company has applied for waiver of these fines, citing that appointment of directors is under the purview of its administrative ministry. An additional non-compliance with Regulation 18(2) was also noted for the year ended March 2026.
The ongoing board composition issues and unpaid fines represent a governance risk. As a government company awaiting ministry approval for director appointments, resolution may take time. Investors should monitor for BSE's response on the waiver request and any further regulatory actions.