IRCTC has received notices regarding fines from BSE and NSE for non-compliance related to the composition of its Board of Directors, specifically the failure to appoint a woman director. The fines, amounting to ₹5,42,800 each from BSE and NSE, pertain to the quarter ended September 30, 2025. IRCTC has requested a review, asserting its status as a government company where director appointments are managed through the Ministry of Railways.
Non-Compliance Fine Imposed
IRCTC has been notified about fines imposed by both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) due to non-compliance issues relating to the composition of its Board of Directors. The core issue revolves around the absence of a woman director on the board, as of September 30, 2025.
Financial Penalty Details
The fines levied by BSE and NSE each amount to ₹5,42,800 (including GST @18%). These penalties are related to non-compliance with specific regulatory provisions regarding board composition for the quarter ending September 30, 2025.
Company’s Response and Next Steps
IRCTC has formally requested the exchanges to review these fines. The company maintains that, as a Government entity, the appointment of directors, including independent directors, falls under the purview of the President of India, with the Ministry of Railways managing these appointments. IRCTC continues to engage with the Ministry of Railways to fulfill the requirement for appointing a woman director. The matter remains pending at the government level.
Source: BSE
