Announcement under Regulation 30(LODR)- Imposition of Fine by Stock Exchanges for the quarter ended 31.03.2026
HMT · price
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HMT Ltd has received notices from both BSE Limited and National Stock Exchange of India Limited imposing a fine of Rs. 5,31,000/- each (inclusive of GST) for non-compliance of Regulation 17(1) of SEBI (LODR) Regulations, 2015 for the quarter ended March 31, 2026. The non-compliance relates to the composition of the Board of Directors, specifically the absence of requisite Independent Directors on the board. As a Government of India undertaking, HMT's directors are appointed by the Government, and the company is in the process of applying for a waiver of the fines. The Administrative Ministry has been requested to appoint the required number of Independent Directors including one Independent Woman Director to comply with the regulations.
The fine is relatively modest at around Rs. 5.3 lakh but highlights governance issues. The company is taking steps to address the board composition shortfall, and if the waiver is granted, the financial impact may be mitigated. This could create some negative sentiment among investors concerned about corporate governance compliance.