Hindustan Zinc Ltd (HZL), a part of Vedanta Group, has been fined ₹10.74 lakh by the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) for not complying with SEBI’s regulations on independent directors. The fines of ₹5.37 lakh each were imposed due to the company’s failure to maintain the required number of independent directors on its board.
HZL received notices from both exchanges on August 21, 2024, regarding the penalties. The company acknowledged the issue and mentioned that it is working with the Ministry of Mines to meet the compliance requirements.
The company also highlighted that it has already fulfilled the requirement for a woman independent director on its board. Currently, there are three independent directors serving on HZL’s board.
