Please find enclosed here with Annual Secretarial Compliance Report for the year ended 31.03.2026.
IRCTC · price
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IRCTC has filed its Annual Secretarial Compliance Report for FY 2025-26 (ended March 31, 2026) as mandated under SEBI Regulation 24A. The secretarial auditor identified non-compliance with board composition requirements under Regulation 17(1), audit committee composition under Regulation 18(1), and nomination and remuneration committee composition under Regulation 19(1)/(2) of SEBI LODR Regulations, 2015. The non-compliance arose because IRCTC is a Government Company with 62.40% government shareholding, and the power to appoint independent directors (including an Independent Woman Director) rests with the President of India acting through the Ministry of Railways. BSE and NSE have imposed fines for these violations. Some fines for audit committee and NRC non-compliance were later waived by NSE. The company has been actively following up with the Ministry of Railways for appointment of requisite independent directors.
IRCTC faces ongoing regulatory non-compliance due to its government ownership structure delaying independent director appointments. While some penalties were waived, repeated fines may continue until the board composition is regularised. This represents a governance risk rather than a financial or operational concern for the company.