Indian Railway Catering And Tourism Corporation Limited has informed the Exchange about General Updates
IRCTC · price
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Awaiting price reaction for this filing.
IRCTC received notices from BSE and NSE on May 29, 2025 imposing a fine of ₹11,91,800 each (including 18% GST) for non-compliance with SEBI LODR Regulations 17(1), 18(1), and 19(1)/19(2) during the quarter ended March 31, 2025. The non-compliance relates to the composition of its Board of Directors, Audit Committee, and Nomination & Remuneration Committee, specifically the absence of a woman director and shortfall in independent directors. The company has explained that as a Government Company, the power to appoint directors vests with the President of India through the Ministry of Railways. IRCTC has requested the exchanges to review and waive the fine, noting that similar past requests were considered favorably.
The total fine of around ₹23.84 lakh is negligible for IRCTC's scale and is unlikely to materially affect shareholders. With the company citing government-controlled director appointments and a history of waivers being granted, the fine is expected to be waived, making this a routine compliance disclosure with minimal impact on the stock.