Annual Secretarial Compliance Report for year ended 31st March 2026
ITDC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
India Tourism Development Corporation (ITDC), a government company under the Ministry of Tourism, reported multiple non-compliances with SEBI regulations during FY 2025-26. The company failed to maintain proper Board composition and constituted key committees (Audit, Nomination & Remuneration, Stakeholder Relationship, and Risk Management) without the required number of Independent Directors. Fines totaling approximately Rs. 13.4 lakh per quarter were imposed by both BSE and NSE for these violations. The non-compliance occurred because appointments of Independent Directors are controlled by the Administrative Ministry, which was beyond the company's control. An Independent Director was finally appointed on 16.04.2025, bringing the company into compliance. The company states it is continuously following up with the Ministry of Tourism and will submit requests for waiver of fines upon achieving full compliance.
This is a governance concern indicating ITDC had prolonged non-compliance with board composition rules due to bureaucratic delays in government appointments. While the company has since complied, these recurring fines and compliance failures could concern investors about governance effectiveness in a PSU. The company plans to seek waiver of fines.