Hindustan Composites Limited has filed its quarterly compliance certificate with stock exchanges and depositories, confirming adherence to SEBI regulations for the quarter ended March 31, 2026. The Mumbai-based company submitted the mandatory confirmation under Regulation 74(5) of the Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018.

Regulatory Compliance Certificate

The certificate was issued by MUFG Intime India Private Limited (formerly Link Intime India Private Limited), which serves as the company's Registrar and Share Transfer Agent. The document confirms that all securities received for dematerialization during the quarter were properly processed and verified according to prescribed timelines.

Dematerialization Process Confirmation

The certificate confirms several key compliance aspects:

• Securities received for dematerialization were confirmed or rejected within prescribed timelines
• Security certificates received were mutilated and cancelled after due verification
• Depository names were substituted in company records as registered owners
• All dematerialized securities remain listed on stock exchanges where earlier securities are listed

Stock Exchange and Depository Notifications

Hindustan Composites Limited notified multiple regulatory bodies about the compliance confirmation:

Company Secretary Certification

The filing was signed by Arvind Purohit, Company Secretary and Compliance Officer (Membership No. A33624), confirming the company's adherence to regulatory requirements. The submission demonstrates Hindustan Composites Limited's commitment to maintaining transparency and regulatory compliance in its securities operations.

This quarterly filing represents a routine regulatory requirement that ensures proper handling of dematerialization processes and maintains investor confidence in the company's securities management practices.

Hindustan Composites Limited disclosed significant regulatory developments following communication from BSE Limited on April 8, 2026. The company received notification regarding the rejection of its waiver application and imposition of additional penalties related to compliance violations under SEBI Listing Regulations.

BSE Rejects Waiver Application

BSE Limited rejected Hindustan Composites' waiver application for a fine of Rs. 1.62 lakh (excluding GST) that was imposed for non-compliance with Regulation 17(1A) of the SEBI Listing Regulations. The violation related to the appointment of Mr. Vinay Sarin as Non-executive Additional Director, who had attained the age of seventy-five years, without passing a special resolution by the company's members.

The company had already paid Rs. 1.91 lakh (including GST) each to both BSE and NSE under protest for this violation. The appointment was subsequently approved by members through a special resolution at the annual general meeting held on September 29, 2023, within three months from the date of appointment.

Additional Fine Imposed for Delayed Results

BSE imposed a separate fine of Rs. 1.55 lakh (excluding GST) for delayed submission of unaudited consolidated financial results for the quarter ended June 30, 2019. The results were submitted on September 14, 2019, which was 31 days after the prescribed deadline of August 14, 2019.

Company's Position and Clarifications

Hindustan Composites had previously submitted clarifications dated August 31, 2019, and September 14, 2019, stating that the company did not have a subsidiary company as defined under the Companies Act, 2013, and SEBI Listing Regulations at that time. The company argued that it was not required to submit consolidated financial results and had not contravened Regulation 33 provisions.

Despite this position, the company submitted the consolidated results on September 14, 2019, as a precautionary measure to avoid regulatory challenges while awaiting BSE's response to its clarifications.

Outstanding Fine Summary

The total outstanding fine payable by Hindustan Composites as of April 2, 2026, includes:

Company's Response and Next Steps

Hindustan Composites stated that it is exploring further options regarding the rejected waiver application to determine its future course of action. However, the company committed to making payment of the outstanding fine within the timelines prescribed by BSE to ensure compliance with regulatory requirements.

The company has been advised to exercise caution while filing documents with the exchange and strictly comply with various SEBI and exchange circulars on a timely basis to avoid future violations.