Tax & Penalty10 Jul 2026, 05:10 pm
HUDCO Board Seeks Fine Waiver for Non-Compliance
AI Summary
Housing & Urban Development Corporation Ltd (HUDCO) has commented on fines levied by BSE and NSE for non-compliance with Board of Directors composition rules for the quarter ended March 31, 2026. The Board noted the fine of ₹531,000 (including GST) and requested continuous follow-up with the Ministry regarding director appointments, as these are controlled by the President of India through the Administrative Ministry. HUDCO is requesting a waiver of the fine from the stock exchanges, citing that director appointments are beyond the company's direct control and that a request for requisite Independent Directors has been made.
Key Highlights
- HUDCO fined ₹531,000 for non-compliance with director composition rules.
- Board seeks waiver, citing director appointments are outside company control.
- Company is following up with the Ministry on director appointments.
- HUDCO is a Government Company, appointments vested with President of India.
Price Impact
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