BSE, NSE slap fines on Hindustan Zinc for violating Sebi norms

New Delhi: Vedanta group firm Hindustan Zinc Ltd (HZL) on Thursday said BSE and NSE have imposed a fine of Rs5.37 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.