Hit by Penalties, Hindustan Zinc Ltd Pushes Compliance on Independent Directors Regulation

Hindustan Zinc Ltd (HZL) has been fined Rs 5.37 lakh each by BSE and NSE for not meeting SEBI's regulation on the number of independent directors on its board. The company asserts it is actively working to comply with these requirements, particularly collaborating with the mines ministry.

Hindustan Zinc Ltd (HZL) has been fined Rs 5.37 lakh each by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for non-compliance with SEBI's regulation concerning the composition of its board of directors.

The issue stems from the company's failure to meet the required number of independent directors. HZL has stated that it is making relentless efforts, including follow-ups with the mines ministry, to rectify this non-compliance.

Additionally, the company reported that it has already met the requirement for a woman independent director and currently has three independent directors on its board.

(With inputs from agencies.)