Hindustan Copper Faces ₹19.11 Lakh Penalty from BSE and NSE for Board Non-Compliance
New Delhi, June 16, 2026: State-owned Hindustan Copper Ltd (HCL) has informed the stock exchanges that it has been slapped with a cumulative fine of ₹19.11 lakh by the BSE and the National Stock Exchange (NSE) for non-compliance with certain corporate governance provisions under SEBI regulations.
According to a communication dated June 16, 2026, both exchanges imposed a penalty of ₹9,55,800 each for non-compliance with Regulations 17(1), 18(1), and 19(1)/(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, relating to the composition of the Board and constitution of key committees for the quarter ended March 31, 2026.
Hindustan Copper clarified that, being a Government company, the authority to appoint directors rests with the President of India acting through the Ministry of Mines. The company stated that it had already requested the Ministry to appoint five part-time non-official/independent directors to the Board and that the proposal is currently under consideration.
The issue was discussed during the company's 464th Board meeting held on June 12, 2026. The Board advised management to approach both the Ministry of Mines and the stock exchanges for relief from the penalty.
HCL further stated that the matter had been brought to the attention of its promoter, the Government of India through the Ministry of Mines, with a request to fill the vacant board positions to ensure compliance with statutory requirements.
The company has formally requested BSE and NSE to grant exemption from payment of the fine under the exchanges' Uniform Carve Out Policy.
The disclosure was signed by Mritunjay Kumar Dev, Company Secretary and Compliance Officer of Hindustan Copper Ltd.