Hindustan Copper Ltd (HCL) has received notices from both BSE and NSE regarding a fine of ₹9,80,580 each for non-compliance with corporate governance requirements. The company has requested an exemption from the fine, citing its status as a government entity and ongoing efforts to appoint directors. The matter has been discussed with the Ministry of Mines and is under consideration.
Fine Imposed by Exchanges
Hindustan Copper Ltd (HCL) has been notified by both the BSE and NSE about a fine of ₹9,80,580 each. The penalties are due to non-compliance related to corporate governance requirements. This announcement was made on October 7, 2025.
Reason for Non-Compliance
As a government company, the appointment of directors at HCL is managed through the President of India, via the Ministry of Mines. HCL has communicated with the Ministry of Mines, Government of India, to facilitate the appointment of five part-time non-official/independent directors and one government nominee director. These appointments are crucial for fulfilling statutory requirements. The matter is currently under consideration.
Company’s Response
The company has requested that the exchanges provide exemption from the payment of the fine. This request falls under the Uniform Carve Out Policy of the Exchange. The issue has been taken up with the Ministry/Exchanges.
Board Discussions
The matter was discussed at HCL’s 454th board meeting held on October 7, 2025.
Source: BSE
