Annual Secretarial Compliance Report FY 2025-26
HMT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
HMT Ltd, a Government company, has reported multiple non-compliance issues with SEBI LODR regulations for FY 2025-26. The key violations include: (1) failure to maintain requisite independent directors on Board (Regulation 17(1)), (2) non-constitution of Audit Committee (Regulation 18(1)), (3) non-constitution of Nomination & Remuneration Committee (Regulation 19(1)/(2)), (4) delayed submission of audited financial results for FY 2024-25 by 54 days (Regulation 33), and (5) lack of independent director on unlisted material subsidiary board (Regulation 24(1)). BSE and NSE have imposed cumulative penalties running into several lakhs of rupees across multiple quarters. The company has sought waiver of fines, citing that appointment of directors lies with Government of India and the matter is under process. Some committees (Stakeholders Relationship and Risk Management) have been regularized during the year.
The stock may face continued regulatory pressure and penalties due to governance non-compliances. However, the company's defense that appointments are controlled by Government of India may provide some relief. Shareholders should monitor whether independent directors are appointed in future quarters to resolve these compliance gaps.