Date: 22nd October, 2026

Board Meeting Outcomes

  • The Board noted the status of levy of fines by NSE and BSE for non-compliance with SEBI LODR regulations regarding board/committee composition and meeting quorum during quarter ended 30th June 2026.
  • The Board desired continuous follow-up with the Ministry regarding penalties being levied by stock exchanges for non-compliance.
  • The Board desired to request stock exchanges for waiver of fine.

Regulatory Fine Details

NSE Fine Breakdown (Quarter Ended 30th June 2026):

  • Regulation 17(1): ₹5,000 per day for 91 days = ₹455,000 (Board composition requirements including woman director)
  • Regulation 18(1): ₹2,000 per day for 85 days = ₹170,000 (Audit committee constitution)
  • Regulation 19(1)/19(2): ₹2,000 per day for 85 days = ₹170,000 (Nomination and remuneration committee constitution)
  • Regulation 20(2)/(2A): ₹2,000 per day for 47 days = ₹94,000 (Stakeholder relationship committee constitution)
  • Regulation 21(2): ₹2,000 per day for 47 days = ₹94,000 (Risk management committee constitution)
  • Regulation 17(2A): ₹10,000 per instance for 1 instance = ₹10,000 (Quorum of board meetings)
  • Total Basic Fine: ₹993,000
  • GST @18%: ₹178,740
  • Total Fine Payable (Inclusive of GST): ₹1,171,740

BSE Fine Breakdown (Quarter Ended June 2026):

  • Regulation 17(1): ₹536,900 inclusive of GST (₹455,000 basic + ₹81,900 GST)
  • Regulation 17(2A): ₹11,800 inclusive of GST (₹10,000 basic + ₹1,800 GST)
  • Regulation 18(1): ₹200,600 inclusive of GST (₹170,000 basic + ₹30,600 GST)
  • Regulation 19(1)/19(2): ₹200,600 inclusive of GST (₹170,000 basic + ₹30,600 GST)
  • Regulation 20(2)/(2A): ₹110,920 inclusive of GST (₹94,000 basic + ₹16,920 GST)
  • Regulation 21(2): ₹110,920 inclusive of GST (₹94,000 basic + ₹16,920 GST)
  • Total Fine Payable: ₹1,171,740

Company's Defense for Waiver

  • HUDCO is a Government Company where power to appoint Directors vests with the President of India exercised through Administrative Ministry.
  • Request for appointment of requisite Independent Directors has been made to the Ministry.
  • Appointment of Directors is beyond the control of the Company.

Payment Instructions

NSE Payment:

  • Beneficiary: National Stock Exchange of India Limited
  • Bank: IDBI BANK LTD, Bandra Kurla Complex, Mumbai
  • RTGS/IFSC Code: IBKL0001000

BSE Payment:

  • Virtual Bank Account No.: BSER08764
  • Bank: ICICI Bank Ltd.-CMS Branch
  • IFSC Code: ICIC0000104