The exchanges have commented on fines levied for non-compliance regarding board composition, including the appointment of a woman director. The company stated that the non-compliance was beyond their control and that they have been proactively informing and requesting the Ministry of Railways for assistance. The Board has requested that the ministry expedite the appointment of independent directors.
Non-Compliance Matter
The matter of non-compliance regarding board composition was brought before the Board in its meeting held on January 9, 2026. The exchanges commented on fines levied for the quarter ended September 30, 2025.
Company’s Standpoint
The Board deliberated and noted that the non-compliance observed by the exchanges is beyond the company’s control. The company has been proactive in informing and requesting administrative ministry support.
Ministry Intervention Requested
The Board has expressed concern about the notice received from the exchanges and has requested that the administrative ministry be requested on a regular basis to expedite the process to appoint the required number of independent directors, including a woman independent director.
Source: BSE
