Indian Railway Catering and Tourism Corporation Addresses Exchange Fines, Announces CIRO Change
Indian Railway Catering and Tourism Corporation Limited (IRCTC) announced that its Board of Directors addressed fines levied by the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) for the quarter ended December 31, 2025, during a meeting held on March 24, 2026. The company received fines totaling ₹542,200 each from both exchanges concerning non-compliance with Regulation 17(1) of the SEBI (LODR) Regulations, 2015, specifically regarding board composition and the failure to appoint a woman director.The Board noted that the non-compliance was beyond the company's control and that proactive steps were taken to inform and request the Administrative Ministry, the Ministry of Railways, to expedite the appointment of independent directors, including a woman independent director. The Board expressed concerns about the notices received and advised that the Administrative Ministry be regularly requested to address the issue and avoid future non-compliance.
Additionally, IRCTC announced a change in the nomination of its Chief Investor Relations Officer (CIRO), in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's Code of Conduct. Updated details of the CIRO will be available on the company's website at www.irctc.com.
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