HUDCO Board Seeks Fine Waiver from Exchanges
Housing & Urban Development Corporation Ltd (HUDCO) has commented on fines levied by NSE and BSE for non-compliance with board composition and meeting quorum regulations for the quarter ended June 30, 2026. The total fine amounts to ₹9,93,000 plus GST, totaling ₹11,71,740. The Board noted the fine status and requested continuous follow-up with the Ministry regarding penalties. HUDCO, being a Government Company, highlighted that director appointments are controlled by the President of India via the Administrative Ministry and that a request for requisite Independent Directors has been made. Consequently, the Board desires a waiver of the fines, citing that director appointments are beyond the company's control.
Key Highlights
- HUDCO fined ₹9.93 Lakhs plus GST by NSE/BSE for compliance lapses.
- Fines relate to board composition and meeting quorum for Q1 FY27.
- Board seeks waiver, citing director appointment control by the Ministry.
- HUDCO is a Government Company, appointments depend on President of India.
- Request made to Ministry for appointment of Independent Directors.
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