Hindustan oil exploration has completed the formal regulatory filing process for its CFO transition, submitting official documentation to stock exchanges on March 30, 2026, under Regulation 30 of SEBI Listing Regulations. The company filed comprehensive details regarding N. Sivalai Senthilnathan's resignation as Chief Financial Officer, including the original resignation letter dated December 29, 2025.

Official Regulatory Filing Details

The company submitted the regulatory intimation to both NSE (Stock Code: HINDOILEXP) and BSE (Stock Code: 500186) on March 30, 2026, providing complete documentation as required under SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The filing included the original resignation letter from N. Sivalai Senthilnathan, which was submitted on December 29, 2025, citing personal reasons for his departure.

Board Meeting Outcome and Leadership Transition

The board of directors meeting held on March 24, 2026, from 12:05 PM to 3:05 PM, formally transacted the CFO transition business. The board took note of N. Sivalai Senthilnathan's resignation as Chief Financial Officer effective March 28, 2026. Based on recommendations from both the Nomination and Remuneration Committee and Audit Committee, the board appointed Allen Joseph Andrade as the new CFO effective April 1, 2026.

New CFO Professional Background

Allen Joseph Andrade brings over 40 years of international leadership experience across multiple sectors, with particular expertise in the Oil and Gas industry. He is a Fellow Chartered Accountant (FCA) with prestigious global certifications including ACMA (UK) and AICPA (USA). His educational credentials include advanced Senior Management Development programs at XLRI Jamshedpur and the ISB/Kellogg School of Management (USA).

Andrade's distinguished track record includes serving as VP/CFO for BG (Shell Upstream) in India, where he was responsible for financial strategy formulation, tax optimization, divestments, and regulatory compliance. He has extensive experience in joint venture governance, particularly in the Panna, Mukta and Tapti Joint Venture with Reliance Industries and ONGC.

Board Committee Reconstitution

Effective April 1, 2026, the board has reconstituted its subcommittees in accordance with the Companies Act, 2013 and SEBI Listing Regulations, 2015. The Corporate Social Responsibility Committee and Risk Management Committee have been restructured with updated member compositions to ensure continued compliance and governance standards.

Hindustan Oil Exploration Company Limited has issued a formal clarification to BSE Limited regarding recent price movements in its shares, responding to an inquiry from the stock exchange dated March 10, 2026.

Company's Response to BSE Inquiry

The oil exploration company submitted its response on March 11, 2026, addressing BSE's reference number L/SURV/ONL/PV/APJ/2025-2026/3419 concerning share price movement. The clarification was signed by G. Josephin Daisy, Company Secretary & Compliance Officer, and submitted through digital means.

Regulatory Compliance Statement

The company emphasized its adherence to regulatory disclosure requirements, stating that it has been periodically disseminating updates to the stock exchange on all events and information that have a bearing on the company's operations and performance. This includes all price-sensitive information as mandated under SEBI regulations.

Hindustan Oil Exploration confirmed its compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which governs the disclosure of material events and information by listed companies.

Company's Position on Price Movement

The management stated that the company is not aware of specific reasons for the price movement in its securities. However, it reaffirmed its commitment to continue submitting all material and price-sensitive information to stock exchanges in a timely manner, ensuring transparency and regulatory compliance.

The company's registered office is located at 'Lakshmi Chambers', 192, St. Mary's Road, Alwarpet, Chennai - 600 018, and it maintains regular communication channels with investors and regulatory bodies through its official contact mechanisms.