The comments of the Board w.r.t fine imposed by BSE for Q 1 for non-compliance of SEBI LODRR is hereby submitted
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Awaiting price reaction for this filing.
BSE imposed a fine of Rs. 6,57,000 (plus GST) on HOCL for not meeting SEBI Listing Rules during Q1 FY2025-26 (quarter ended June 30, 2025). The non-compliance related to Board composition, absence of independent directors at meetings, and constitution of the Audit Committee. HOCL has submitted a waiver application to BSE, arguing the gaps were beyond its control because director appointments are made by the Ministry of Chemicals & Fertilizers, Government of India. The Board noted that HOCL is now in full compliance after Independent Directors and a woman director were appointed in June 2025.
The fine amount is small and unlikely to materially affect the company. The waiver request and explanation that non-compliance was due to government-controlled director appointments may reassure shareholders, and current compliance status removes the overhang from this issue.