Exchanges Fine IRCTC for Non-Compliance in Board Composition Regarding Woman Director Appointment
Indian Railway Catering and Tourism Corporation Limited (IRCTC), a Government of India Enterprise and Navratna company, has faced financial penalties from both BSE and NSE concerning the composition of its Board of Directors. Both exchanges imposed a fine of ₹5,31,000 each for non-compliance related to Regulation 17(1) of the SEBI (LODR) Regulations, 2015, covering the quarter ended March 31, 2026.The matter of the fines and non-compliance was deliberated by the company's Board during a meeting held on July 14, 2026. The Board addressed the observations made by BSE and NSE regarding the board composition, specifically highlighting the failure to appoint a woman director as per regulations.
Following discussions, the Board noted that the non-compliance identified by the exchanges was beyond the control of the company. It further stated that IRCTC had taken proactive steps, having informed and requested administrative ministry, namely the Ministry of Railways, in advance regarding the potential compliance issues.
The meeting also focused on expressing concern over the notice received from both BSE and NSE. The Board advised that a request should be made to the administrative ministry on a regular basis. This step is intended to expedite the process for appointing the requisite number of independent directors, including a woman independent director, onto IRCTC's Board.
The board determined that these steps are necessary to avoid non-compliance with SEBI (LODR) Regulations, 2015 and the Companies Act, 2013, along with other applicable laws.
IRCTC Stock Price Movement
Shares of Indian Railway Catering And Tourism Corporation Limited shed 1.09% in live trading, sinking to ₹496.6 as the market clocks in at 3:29 PM today. This substantial decline pushes the stock near its 52-week low, with over 1.09 million shares traded during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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