Hindustan Copper Ltd Fined ₹9.77 Lakh Each by BSE and NSE for SEBI LODR Non-Compliance
Mumbai, February 28, 2026: Hindustan Copper Limited (HCL) has informed stock exchanges that both BSE Limited and the National Stock Exchange of India Limited (NSE) have imposed fines of ₹9,77,040 each for non-compliance with certain provisions of SEBI (LODR) Regulations, 2015 for the quarter ended December 31, 2025.
Reason for Penalty
As per the exchange communications dated February 27, 2026, the penalty relates to non-compliance with:
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Regulation 17(1) – Composition of the Board, including failure to appoint a woman director
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Regulation 18(1) – Constitution of the Audit Committee
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Regulation 19(1) & 19(2) – Constitution of the Nomination and Remuneration Committee
The total fine levied by each exchange amounts to ₹9,77,040 (including 18% GST), comprising:
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₹5,42,800 for Regulation 17(1)
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₹2,17,120 for Regulation 18(1)
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₹2,17,120 for Regulation 19(1) & (2)
Company’s Clarification
Hindustan Copper Ltd clarified that it is a Government Company and, as per its Articles of Association, the power to appoint directors vests with the President of India, acting through the Ministry of Mines, Government of India.
The company has written to the Ministry of Mines for appointment of the required number of directors, and the matter is currently under consideration. Upon completion of the appointments, HCL intends to seek waiver of the fines from both exchanges.
No Financial or Operational Impact
The company stated that the imposed fine does not have any impact on its financial, operational, or other activities.
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and was signed by Mritunjay Kumar Dev, Company Secretary & Compliance Officer.