Hindustan Copper fined for board and committee composition failures

Hindustan Copper Limited (HCL) has been levied a fine of INR 977,040 each by both BSE Limited and National Stock Exchange of India Ltd (NSE). The penalties are for non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fines stem from failures related to the composition of HCL's board and the constitution of its audit and nomination and remuneration committees, specifically citing breaches for the quarter ended September 30, 2025.

As a government company, HCL stated that the appointment of its board directors rests with the president of India, acting through the ministry of mines. The company noted the matter of appointing the required number of directors is currently under consideration. Upon the appointment of the necessary directors, HCL plans to seek a waiver of the imposed fines, asserting that there will be no impact on its financial, operational, or other activities.

In a separate announcement, HCL also reported that Ramanand Adhikari, general manager (chemical), will cease employment on November 30, 2025, upon reaching superannuation.