Hindustan oil exploration Company Limited has announced the resignation of Mrs. Bhavani Balasubramanian from her position as Non-Executive Independent Director, effective February 22, 2026. The resignation was submitted due to personal obligations requiring continuous travel and extended presence outside her usual place of residence.

Director Resignation Details

Mrs. Balasubramanian, holding Director Identification Number (DIN) 09194973, cited personal obligations as the primary reason for her departure. In her resignation letter dated February 22, 2026, she explained that the time commitment and responsibilities associated with the role of an Independent Director, combined with her other commitments, necessitated her decision to step down.

Committee Memberships Affected

Following her resignation, Mrs. Balasubramanian ceased to be a member of several key board committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholders' Relationship Committee

The departing director confirmed that there were no material reasons for her resignation beyond those stated in her letter.

Other Directorships

Mrs. Balasubramanian holds directorships in several other listed entities, where she serves in various capacities:

Board Committee Reconstitution

Effective February 23, 2026, the company has reconstituted its board subcommittees in accordance with the Companies Act, 2013 and SEBI Listing Regulations, 2015. The reconstituted committees include:

Audit Committee:

• Mr. Suresh Kumar Jain, Chairperson (NE-ID)
• Mr. P K Borthakur, Member (NE-ID)
• Mr. Rohit Rajgopal Dhoot, Member (NE-NID)

Nomination & Remuneration Committee:

• Mr. P K Borthakur, Chairman (NE-ID)
• Mr. Suresh Kumar Jain, Member (NE-ID)
• Mr. Ashok Kumar Goel, Member (NE-NID)

Stakeholders Relationship Committee:

• Mr. Suresh Kumar Jain, Chairperson (NE-ID)
• Mr. Rohit Rajgopal Dhoot, Member (NE-NID)
• Mr. Ashok Kumar Goel, Member (NE-NID)

Regulatory Compliance

The company has made the required disclosures under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors has placed on record its sincere appreciation for Mrs. Balasubramanian's contributions during her tenure. All relevant documentation, including the resignation letter and committee reconstitution details, has been submitted to the stock exchanges and made available on the company's website at www.hoec.com .

Hindustan oil exploration Company Limited has disclosed receiving a GST penalty order worth Rs 65,81,478/- from tax authorities, which the company intends to challenge through an appeal process.

Penalty Details and Authority

The penalty order was issued by the Office of the Joint Commissioner (ST), Chengalpattu Intelligence Division, with the company receiving the order on February 18, 2026. The order imposes a penalty of Rs 65,81,478/- along with tax demand and applicable interest.

Nature of Alleged Violation

The penalty pertains to the alleged non-payment of GST on royalty paid to the Government of India for production of gas and condensate in block PY-1, Cauvery basin during the period 2019-2020. This relates to the company's upstream oil and gas operations in the specified block.

Company's Response and Position

Hindustan Oil Exploration has expressed disagreement with the penalty order, maintaining a clear stance on the matter. The company believes that no GST is applicable on royalty payments made for production of gas and condensate. Based on this position, the company has decided to contest the order through proper legal channels.

Appeal Process and Expected Impact

The company plans to file an appeal against the order with the appellate authorities. Management has expressed confidence in achieving a favorable outcome through the appeal process. The company has stated that it does not reasonably expect the order to have any material financial impact on its operations.

This disclosure was made pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, ensuring transparency with stakeholders regarding regulatory matters affecting the company.