Hindustan Copper Fined ₹28.86 Lakh for Board Composition Lapses
New Delhi, November, 2026: Hindustan Copper Limited (BSE: 513599 | NSE: HINDCOPPER) has informed the stock exchanges that it has received notices imposing a fine of ₹14,43,140 each from BSE and NSE for non-compliance with corporate governance requirements under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Details of the Fine
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Amount: ₹14,43,140 from BSE + ₹14,43,140 from NSE
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Period: Quarter ended September 30, 2026
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Regulations Attracted: Regulation 17(1), 17(2A), 18(1), 19(1)/(2), 20(2)/(2A) and 21(2) of SEBI LODR
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Nature of Non-Compliance: Composition of the Board and constitution of various Board Committees (including Audit Committee, Nomination & Remuneration Committee, etc.) due to shortfall of Independent Directors.
Company’s Response
Hindustan Copper, being a Government Company, has stated that the power to appoint Directors (including Independent Directors) is vested with the President of India, acting through the Ministry of Mines, Government of India.
The company has already written to the Ministry seeking appointment of four part-time non-official / Independent Directors. The matter is currently under consideration by the Ministry.
The issue was discussed in the 468th Board meeting of the company held on November 11, 2026. The Board has advised that the matter be taken up with the Ministry of Mines as well as the stock exchanges for seeking exemption from payment of the fine under the Uniform Carve Out Policy applicable to Government companies.
The company has also brought the matter to the notice of its promoter (Government of India through the Ministry of Mines) with a request to fill the vacant Independent Director positions at the earliest.