Fines Imposed on IRCTC by Stock Exchanges Over Board Composition Non-Compliance
Indian Railway Catering And Tourism Corporation Limited (IRCTC) has received notices from the BSE and National Stock Exchange of India (NSE) regarding the imposition of fines for non-compliance concerning the composition of its Board of Directors and its Committees.The fines were imposed by both exchanges for the quarter ended on June 30, 2026.
According to the details provided by the Company, the fine amount is ₹10,23,060/- each, including GST at 18%, levied by BSE and NSE.
The penalties are linked to non-compliance with specific provisions related to the composition of the Board of Directors.
Company Response and Future Steps
IRCTC, which operates as a Government Company, stated that the power to appoint Directors, including Independent Directors, rests with the President of India, represented through the Ministry of Railways, Government of India.The Company is currently following up with the Ministry of Railways, Government of India, to appoint the requisite number of Independent Directors, including a Women Independent Director, to its Board.
IRCTC assured that the fine imposed by the exchanges will have no impact on the financial, operational, or other activities of the Company. The Company also noted that similar correspondence regarding waivers has been received in the past, and subsequent compliances made by the Company were favorably considered by the Exchanges.
IRCTC Stock Price Movement
As of 10:44 AM, Indian Railway Catering And Tourism Corporation Limited shares are edging higher to ₹487.35, gaining 0.99% in live trading. The equity is navigating near its 52-week low as it trades on a significant volume of 297,881 shares this morning.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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