HOCL Board Comments on BSE ₹5.05 Lakh Fine

Key Quantitative Figures

• A total penalty of ₹5,05,000 plus applicable GST was imposed by BSE.

Dates of Action

• BSE communicated the penalty via emails dated August 25, 2026.
• The 429th Board Meeting of HOCL, where this matter was discussed, was held on November 4, 2026.
• The Company Secretary, Subramonian H, signed and submitted this letter on November 4, 2026.

Parties Involved

• Regulator: BSE Limited
• Government Authority: Ministry of Chemicals and Fertilizers, Department of Chemicals and Petrochemicals, Government of India
• Company Representative: Subramonian H, Company Secretary & Compliance Officer

Purpose and Board Comments

The purpose of the disclosure is to present the Board's official comments on the penalty, as required by BSE.

The Board of Directors noted and reported the following:

1. The appointment of Directors to HOCL's Board is within the purview of the Ministry of Chemicals and Fertilizers, Government of India.

2. Therefore, the non-compliance with Regulation 17(1) was attributable to circumstances beyond the direct control of the Company.

3. The non-compliance with Regulations 20(2) and 20(2A) arose due to the non-availability of the requisite number of Independent Directors on the Board, a circumstance also beyond the reasonable control of the Company.

Financial Impact

The financial impact is the crystallized liability of the penalty amount of ₹5,05,000 plus GST, payable to BSE.