Hindustan Copper fined for board composition non-compliance

Hindustan Copper Limited (BSE: HINDCOPPER) has been fined by both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for non-compliance with SEBI regulations regarding the composition of its board. The penalties, amounting to ₹542,800 each from BSE and NSE, stem from a failure to meet the requirements outlined in Regulation 17(1) of the SEBI (LODR) Regulations, 2015, for the quarter ending December 31, 2024. The company attributes the non-compliance to delays in the appointment of directors, a process overseen by the Ministry of Mines, Government of India, given Hindustan Copper's status as a government company. Hindustan Copper has communicated with the Ministry of Mines regarding the necessary appointments and intends to seek a waiver of the fines from both exchanges upon fulfilling the board composition requirements. The company does not expect any impact to its other activities, if the fine waivers are not granted.