Indian Railway Catering And Tourism Corporation Limited has informed the Exchange regarding ' Board Comments on fines levied by the Exchanges for the quarter ended 30th September, 2025'.
IRCTC · price
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Awaiting price reaction for this filing.
IRCTC was fined by BSE and NSE for non-compliance of SEBI (LODR) Regulation 17(1) for the quarter ended 30th September 2025, due to its Board not having the required number of independent directors including a woman independent director. The Board met on 9th January 2026 and noted that the non-compliance is beyond the company's control, as director appointments are made by the administrative ministry (Ministry of Railways). The company had already informed and requested the Ministry of Railways well in advance to fill these vacancies. The Board advised the management to keep requesting the Ministry to expedite the appointment of the required independent directors to avoid future non-compliance.
The fine is a minor regulatory penalty for a procedural non-compliance that is outside IRCTC's direct control. It is unlikely to materially affect the stock price or shareholder value, but the Board composition issue needs to be resolved with the Ministry of Railways to avoid recurring fines and potential further regulatory action.