Intimation of fine(s) levied by Stock Exchanges
IRFC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
BSE and NSE have each levied a fine of Rs. 9,55,800 (inclusive of GST) on IRFC for non-compliance with SEBI (LODR) Regulations — specifically Regulation 17(1), 18(1), and 19(1)/19(2), which relate to board composition and constitution of Audit, Nomination and Remuneration committees for Q4 FY2026 (quarter ended 31 March 2026). The company claims it has no control over director appointments as it is a government enterprise where appointment power vests with the President of India via the Ministry of Railways. IRFC has previously had similar fines waived for the period March 2021 to December 2025 and has now requested both exchanges to waive the current fines as per the SEBI SOP Circular. The company states the fine has no quantified financial or operational impact.
The fine is relatively small relative to IRFC's scale, but it signals ongoing governance gaps. The company has requested a waiver, similar to past instances, but any denial could marginally increase regulatory scrutiny on IRFC's corporate governance compliance.