Hindustan Composites Limited has been informed by BSE Limited on April 8, 2026, that its application for a waiver of fines has been rejected. The company had filed the waiver for a fine of ₹1,62,000 (excluding GST) imposed by both BSE and NSE for non-compliance with Regulation 17(1A) of the Listing Regulations. This non-compliance pertained to the appointment of Mr. Vinay Sarin as a Non-executive Additional Director who had attained the age of seventy-five years, without passing a special resolution by the company's members. Furthermore, the company has been fined ₹1,55,000 (excluding GST) by BSE for the delayed submission of its unaudited consolidated financial results for the quarter ended June 30, 2019. The company had previously submitted clarifications regarding its subsidiary status and the requirement for consolidated financial results, and had also submitted the consolidated results as a cautionary measure. The company is exploring further options regarding these matters but will comply with the payment timelines set by BSE. The company has already paid ₹1,91,160 (including GST) each to BSE and NSE under protest for the Regulation 17(1A) non-compliance, and the waiver rejection means no further payment is required for this specific fine. However, the fine of ₹1,55,000 (excluding GST) for the delayed submission of financial results remains payable.
