HMT Limited — Others, 30-05-2025: Delay/default in the payment of fines/penalties/dues etc. to authority

HMT Limited has been fined Rs. 14.04 lakh each by BSE and NSE for not having independent directors on its board, resulting in non-compliance with board composition and quorum norms. As a government-owned company, director appointments are managed by the Government of India. HMT has requested the administrative ministry to appoint the necessary independent directors, including a woman director, to fulfill compliance requirements and is seeking a waiver of the fines. This governance issue is recognized and steps are underway to resolve it.