Key Quantitative Figures
- Fine amount imposed by BSE: ₹14,43,140
- Fine amount imposed by NSE: ₹14,43,140
- Total fine amount: ₹28,86,280
- Quarter of non-compliance: ended 30.09.2026
- Board meeting reference: 468th meeting held on 11.11.2026
Dates of Action
- Email from BSE received: 25.08.2026
- Letter from NSE received: 25.08.2026 (Letter No. NSE/LIST-SOP/COMB/FINES/0954)
- Board meeting date: 11.11.2026
- Disclosure date: 11.11.2026
Parties Involved
- Hindustan Copper Ltd (HCL)
- BSE Limited
- National Stock Exchange of India Ltd
- Ministry of Mines, Government of India (Promoter)
- President of India (appointing authority as per Articles of Association)
Purpose and Rationale
The company attributes the non-compliance to its status as a Government Company where the power of appointment of Directors is vested with the President of India acting through the Ministry of Mines. The company had written to the Ministry of Mines for appointment of four part-time non-official/Independent Directors, and the matter is under consideration.
Board Action and Resolution
The matter was placed and discussed by the Board of HCL in its 468th meeting held on 11.11.2026. The Board advised that the matter may be taken up with the Ministry/the Exchanges for seeking exemption from payment of fine.
Communications with Promoter
The matter was brought to the knowledge of the Promoter (Government of India acting through Ministry of Mines) with request to appoint the vacant posts of directors for compliance of statutory requirements.
Financial Impact
The total financial impact amounts to ₹28,86,280 in fines payable to the exchanges. The company is seeking exemption from payment under the Uniform Carve Out Policy of the Exchange.
Request for Exemption
The company has formally requested both exchanges to grant exemption from payment of fine under the Uniform Carve Out Policy.
#Tags: #HindustanCopper #SEBILODR #RegulatoryCompliance #CorporateGovernance #Negative