HMT Fined ₹10.62 Lakh by BSE, NSE for Board Composition Non-Compliance

HMT Limited has received notices from BSE Limited and National Stock Exchange of India Limited (NSE) regarding the imposition of a fine of ₹5,31,000/- each (inclusive of GST), totaling ₹10,62,000. The fines are for non-compliance with Regulation 17(1) of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, for the quarter ended March 31, 2026. The non-compliance pertains to the composition of the Board of Directors, specifically the absence of the requisite number of Independent Directors. As HMT Limited is a Government Company, all Directors are appointed by the Government of India. The company is in the process of applying for a waiver of these fines as per the Stock Exchanges' SOP Circular and has requested the Administrative Ministry to appoint the necessary Independent Directors, including one Independent Woman Director, to comply with the regulations.