Hindustan oil exploration Company Limited has issued a formal clarification to stock exchanges regarding increased trading volumes in the company's securities. The communication, dated April 8, 2026, was addressed to both the National Stock Exchange of India Limited and BSE Limited.

Regulatory Compliance Affirmation

The company emphasized its ongoing compliance with regulatory requirements, specifically highlighting adherence to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. HOEC stated that it has been periodically disseminating updates to stock exchanges covering all events and information that impact company operations and performance.

Company's Position on Volume Increase

Regarding the specific increase in trading volume, HOEC acknowledged that it is not aware of the particular reasons behind this development. The company maintained transparency by clearly stating its position while reaffirming its commitment to regulatory compliance.

Ongoing Disclosure Commitments

The company provided assurance regarding future compliance, stating its commitment to continue submitting all material and price sensitive information to stock exchanges in a timely manner. This reaffirmation demonstrates HOEC's dedication to maintaining transparency with investors and regulatory bodies.

Corporate Communication Details

The clarification was signed by G. Josephin Daisy, Company Secretary and Compliance Officer, and submitted through online channels to both exchanges. The document was digitally signed on April 8, 2026, at 11:15:01 +05'30', ensuring proper authentication and timestamp verification.

This clarification reflects standard corporate practice when companies experience unusual trading activity, demonstrating HOEC's proactive approach to addressing regulatory queries while maintaining compliance with disclosure obligations.

Hindustan Oil Exploration Company Limited successfully completed its postal ballot process on March 30, 2026, with shareholders demonstrating strong support for proposed board restructuring initiatives. The company announced the results of three critical resolutions that will reshape its leadership structure.

Postal Ballot Overview

The postal ballot process was conducted through remote e-voting, with the notice dated February 25, 2026, and a cut-off date of February 20, 2026. The company had 93603 shareholders eligible to participate in the voting process.

Resolution Results

All three resolutions presented to shareholders were approved with requisite majority. The voting results demonstrated strong shareholder confidence in the proposed leadership changes.

Resolution 1: Chairman Appointment

Shareholders approved the appointment of Dr. Jagadip Narayan Singh (DIN: 00955107) as Non-Executive Independent Director and Chairman through a special resolution.

Resolution 2: Designation Change

The second resolution, an ordinary resolution, approved the change in designation of Mr. Baroruchi Mishra (DIN: 09223144) from Non-Executive Independent Director to Non-Executive Non-Independent Director.

Resolution 3: Managing Director Appointment

The third ordinary resolution approved the appointment of Mr. Baroruchi Mishra (DIN: 09223144) as Managing Director and CEO of the company.

Voting Pattern Analysis

The voting pattern showed strong institutional and retail investor support across all resolutions. Public institutions demonstrated unanimous support for the first two resolutions with 100.00% votes in favour, while showing 3.91% support for the Managing Director appointment. Public non-institutional shareholders maintained consistent support above 99.98% for all three resolutions.

Compliance and Process

The postal ballot was conducted in accordance with Regulation 44 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant provisions of the Companies Act, 2013. S Sandeep & Associates, Company Secretaries, served as the scrutinizer for the voting process, ensuring transparency and compliance with regulatory requirements.

The company dispatched the postal ballot notice through email to shareholders whose email addresses were registered with depositories or the registrar and transfer agent. The notice was also published in newspapers including Business Line, Business Standard (Ahmedabad edition), and Loksatta (Vadodara edition) on February 28, 2026.

Leadership Transition

With the approval of these resolutions, Hindustan Oil Exploration Company has successfully implemented its board restructuring plan. Dr. Jagadip Narayan Singh will assume the role of Chairman, while Mr. Baroruchi Mishra transitions to Managing Director and CEO, marking a significant leadership change for the oil exploration company.