Revised Annual Secretarial Compliance Report for the Financial year ended 31.03.2026 since cover letter was missing from the original filing
ITDC · price
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India Tourism Development Corporation Ltd (ITDC), a Government Company under the Ministry of Tourism, has filed its Annual Secretarial Compliance Report for FY 2025-26. The report reveals non-compliance with SEBI LODR Regulations 17, 18, 19, 20, and 21 regarding board and committee composition. The company was short of required Independent Directors on the Board, Audit Committee, Nomination & Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee during multiple quarters in FY 2025-26. Fines totaling approximately Rs. 13.5 lakh+ were imposed by BSE and NSE. The company states it cannot appoint Independent Directors independently as appointments are made by the Ministry of Tourism, which is beyond its control. The company achieved compliance after appointing an Independent Director effective 16.04.2025. This is a revised filing with the cover letter now included.
Minor negative impact - the company faces regulatory fines for non-compliance, but the violations stem from government appointment processes outside management control. The company has since become compliant. Shareholders should note ongoing follow-up with the Ministry of Tourism to address board composition requirements.