Hindustan Zinc Fined Rs 10.73 Lakh for Sebi Violations
Aug 22, 2024 17:57
BSE and NSE have fined Hindustan Zinc Rs 10.73 lakh for violating Sebi norms related to independent directors on the board. The company is working to comply with regulations.
New Delhi, Aug 22 (PTI) Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday said BSE and NSE have imposed a fine of Rs 5.37 lakh each on the company for non-compliance with Sebi regulation relating to number of independent directors on board.
The company said it is making constant efforts and follow-ups are being made with the mines ministry to meet the compliance requirements.
"The company has received a notice issued by BSE and NSE dated August 21, 2024, levying fine for non-compliance with Regulation 17(1) of the SEBI Listing Regulations, w.r.t the Composition of Board of Directors relating to number of independent directors," it said in a filing.
Further, the requirement of the woman independent director on the company's board has already been fulfilled, it said.
At present, there are three independent directors on the company's board.
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