Hindustan Copper Limited Fined by BSE and NSE for Board Composition Non-Compliance
Hindustan Copper Limited (HCL) has been informed of fines imposed by both BSE Ltd and the National Stock Exchange of India Ltd (NSE) due to non-compliance with requirements pertaining to the composition of its Board and the constitution of its Audit and Nomination and Remuneration Committees.The notices confirm that both BSE and NSE imposed a fine of Rs. 9,55,800/- each on HCL. The non-compliance relates to requirements concerning the composition of the Board and the Constitution of the Audit Committee and Nomination and Remuneration Committee, as stipulated under SEBI (LODR) Regulations, 2015.
Details of Imposed Fines and Violations
The exchanges notified the company of the actions taken, citing non-compliance with specific regulations.| Sr. No. | Details Required | Action Taken by BSE and NSE |
|---|---|---|
| 1 | Name of the authority | BSE and NSE |
| 2 | Nature and details of the action(s) taken or order(s) passed | Imposition of fine of Rs. 9,55,800/- each due to non-compliance of Regulation 17(1), 18(1) and 19(1)/(2) of SEBI (LODR) Regulations, 2015 |
| 3 | Date of receipt of direction or order | 27.05.2026 |
| 4 | Details of the violation(s)/ contravention(s) committed | Non-compliance with requirements pertaining to composition of the Board and Constitution of Audit Committee and Nomination and Remuneration Committee |
Impact and Management Response
Regarding the impact of the violation, HCL stated that as a Government Company, the power of appointment of directors on its Board is vested with the President of India, acting through the Ministry of Mines.The company has written to the Ministry of Mines, Government of India, for the appointment of the required number of directors on the Board of HCL, and the matter is currently under consideration. HCL noted that upon the appointment of the required number of directors, the Company will seek a waiver of the fines from both BSE and NSE. Consequently, there is no adverse impact on the financial, operational, or other activities of the company.
Breakdown of Fine Calculations
NSE provided a detailed breakdown of the total payable fine amount, which was calculated based on specific regulations and compliance periods:| Regulation | Quarter | Fine Amount Per Day (Rs.)/Fine Amount Per Instance (Rs.) | No. of Days of Non-compliance / No. of Instance(s) | Fine Amount (Rs.) |
|---|---|---|---|---|
| REGULATION 17(1) | 31-Mar-2026 | 5,000 | 90 | 450,000 |
| REGULATION 18(1) | 31-Mar-2026 | 2,000 | 90 | 180,000 |
| REGULATION 19(1)/19(2) | 31-Mar-2026 | 2,000 | 90 | 180,000 |
| Total Fine | Total Fine | Total Fine | Total Fine | 8,10,000 |
| GST@18% | GST@18% | GST@18% | GST@18% | 1,45,800 |
| Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | Total Fine Payable (Inclusive of GST) | 9,55,800 |
HINDCOPPER Stock Price Movement
Wednesday saw Hindustan Copper Limited shares shed ₹0.65 from the previous close, settling at ₹555.35. The stock traded actively throughout the day, hitting a range between ₹554.3 and ₹564 on a volume of 4.06 million shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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