BSE and NSE imposed a fine of Rs 9,55,800 each on Hindustan Copper for non-compliance with board composition norms for the quarter ended March 31, 2026. The penalties were levied due to violations of Regulation 17(1), 18(1), and 19(1)/(2) of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, which pertain to the composition of the Board and the constitution of committees.

The company stated that as a Government Company, the power to appoint directors is vested with the President of India, acting through the Ministry of Mines. Hindustan Copper has written to the ministry requesting the appointment of five part-time non-official or independent directors to meet statutory requirements, noting that the matter is currently under consideration.

In its 464th meeting held on June 12, 2026, the Board advised that the company seek an exemption from the fine payment from the exchanges. Consequently, Hindustan Copper has formally requested BSE and NSE to grant exemption under the Uniform Carve Out Policy. The company has also informed the promoter, the Government of India through the Ministry of Mines, regarding the vacancy of director posts and the need for compliance.

The Ministry of Mines has appointed Shri Anupam Misra as the Chairman & Managing Director of hindustan copper effective from the date he assumes charge on or after July 1, 2026. The appointment, conveyed via Order No. Met3-10/3/2025-METAL III dated June 8, 2026, is made under Article 70(1) of the company's Articles of Association. Shri Misra will hold the position until his superannuation on February 28, 2030, or until further orders, whichever is earlier.

Shri Misra is currently serving as Director (Marketing) at Fertilisers and Chemicals Travancore Limited (FACT Ltd.). His appointment to the top post at Hindustan Copper places him at the helm of the Miniratna CPSE under the Ministry of Mines. The government order specifies that his tenure is linked to the date of assumption of charge, with the pay scale fixed at Rs. 2,00,000-3,70,000/-.

The company stated that it will undertake the necessary actions to complete the statutory formalities regarding the appointment. In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Circular dated January 30, 2026, requisite details will be informed to the stock exchanges in due course.

Appointment Details

The Ministry of Mines issued the order under the powers vested in the President of India. Detailed terms and conditions related to the appointment will be issued separately as per the government communication. The filing was submitted by Mritunjay Kumar Dev, Company Secretary & Compliance Officer of Hindustan Copper Limited.