Hindustan Copper fined ₹19.54 Lakh for Corporate Governance Non-Compliance
Hindustan Copper Limited (HCL) has been fined ₹9,77,040 by both BSE Limited and the National Stock Exchange of India Ltd for non-compliance with SEBI (Listing Obligations & Disclosure Requirements) Re...
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Why is Hindustan Copper Limited in the news today?
Hindustan Copper Limited (HINDCOPPER) is in the news due to the company has been imposed with a significant fine due to non-compliance with sebi regulations, indicating a negative development.
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Hindustan Copper fined ₹19.54 Lakh for Corporate Governance Non-Compliance
December 31, 2025, 10:16 AM
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Hindustan Copper Limited (HCL) has been fined ₹9,77,040 by both BSE Limited and the National Stock Exchange of India Ltd for non-compliance with SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. The non-compliance pertains to the composition of the Board and Constitution of Committees for the quarter ended 30.09.2025, specifically concerning Regulations 17(1), 18(1), and 19(1) & (2).
As HCL is a Government Company, the appointment of Directors is vested with the President of India, acting through the Ministry of Mines. HCL has formally requested the Ministry of Mines for the appointment of five part-time non-official/Independent Directors to meet the statutory requirements, and this request is currently under consideration.
The matter was discussed in the 457th Board meeting of HCL held on 31.12.2025. The Board has advised pursuing an exemption from the fine payment with the Ministry and the Exchanges. Additionally, the Promoter, the Government (through the Ministry of Mines), has been informed of the vacant director posts and requested to expedite appointments to ensure compliance.
HCL has submitted a request to the Exchanges seeking exemption from paying the fine under the Uniform Carve Out Policy.
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