HMT Limited Faces Fines from BSE and NSE Over Board Composition Deficiencies
HMT Limited, a Government of India undertaking, has received notices from the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE) concerning non-compliance related to its Board of Directors composition. The notices pertain to the quarter ended March 31, 2026.According to the report, the company was flagged for not maintaining the requisite number of Independent Directors on its Board of Directors.
For this non-compliance, HMT Limited was assessed a fine of Rs. 5,31,000/- each, inclusive of Goods and Services Tax (GST), from both BSE and NSE.
In response to the regulatory notices, HMT Limited confirmed that it is currently in the process of applying for a waiver of the imposed fines.
The company noted that, as a Government company, all directors are appointed by the Government of India in terms of the Articles of Association. To comply with the necessary regulations, the Administrative Ministry has been requested to appoint the required number of Independent Directors. This appointment must include one Independent Woman Director on the Board of Directors.
HMT Stock Price Movement
HMT Limited shares slipped by 2.03% on Wednesday, settling at ₹57.02. The equity traded on a total volume of 13,460 shares during the session.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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