IRCON International’s board addressed a fine levied by exchanges related to board composition non-compliance, attributing the issue to delays in appointments by the Ministry of Railways. Sudhir Singh, Director (Projects), has been appointed as Key Managerial Personnel (KMP) effective January 2, 2026. The board meeting occurred on February 3, 2026.
Board Addresses Regulatory Fine
IRCON’s Board of Directors addressed a fine imposed by the National Stock Exchange of India Limited (NSE) and BSE Limited concerning non-compliance with regulations related to board composition. The non-compliance pertains to the composition of the Board of Directors and its committees, specifically the Audit Committee and Nomination & Remuneration Committee, for Q2 2025-26 (July-September). The company stated that the appointment of Directors, including Independent Directors, rests with the Government of India through the Ministry of Railways.
IRCON has been continuously requesting the Ministry of Railways to appoint the required number of Independent Directors to ensure compliance.
Key Managerial Personnel Appointment
Sudhir Singh, Director (Projects), has been designated as Key Managerial Personnel (KMP) of the company, effective January 2, 2026. This appointment is until further notice from the Ministry of Railways.
Mr. Singh has over 26 years of experience and has contributed to projects including the Udhampur-Srinagar-Baramulla Rail Link (USBRL). He has also worked with Rail Land Development Authority and was associated with station re-development projects.
Board Meeting Details
The Board Meeting was held on February 3, 2026, commencing at 3:00 PM and concluding at 5:30 PM.
Source: BSE
