Tax & Penalty7 Aug 2026, 06:30 pm
HOCL Fined ₹4.5 Lakhs for SEBI LODR Non-Compliance
AI Summary
Hindustan Organic Chemicals Ltd (HOCL) has been fined ₹4,50,000 plus applicable GST by BSE for non-compliance with Regulation 17(1) of SEBI LODR Regulations regarding Board composition. The company stated this non-compliance was beyond its control as director appointments are made by the Ministry of Chemicals & Fertilizers. Additionally, a penalty of ₹42,000 plus GST was imposed for late compliance of Regulation 24A(2) (Secretarial Compliance Report). HOCL clarified that the XML file for the report was inadvertently submitted with data from the previous financial year due to a technical error, which has since been rectified. The Board has advised greater caution in BSE filings.
Key Highlights
- HOCL fined ₹4.5 Lakhs for board composition non-compliance.
- Company attributes non-compliance to external director appointments.
- Additional penalty for late submission of secretarial compliance report.
- Technical error caused incorrect data in XML filing; rectified.
- Board emphasizes increased diligence in regulatory filings.
Price Impact
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