HMT Limited has informed the Exchange about Delay/default in the payment of fines/penalties/dues etc. to authority
HMT · price
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Awaiting price reaction for this filing.
HMT Limited has received notices from BSE and NSE imposing a fine of Rs. 9,66,420 each (inclusive of GST) for not meeting SEBI LODR requirements for the quarter ended June 30, 2025. The non-compliance relates to Regulations 17(1), 18(1), and 19(1)/19(2), which cover the composition of the Board of Directors and the constitution of the Audit Committee and Nomination & Remuneration Committee. The reason for non-compliance is the absence of the requisite number of Independent Directors, including one Independent Woman Director, on the board. HMT is a Government of India undertaking, and all directors are appointed by the government, which has been requested to fill these positions.
The fine amount is relatively small and the company is applying for a waiver under the stock exchanges' SOP circular, so direct financial impact on shareholders is limited. However, the continued lack of Independent Directors highlights an ongoing governance gap that could attract further regulatory action or affect investor confidence until the government fills these positions.