The IRCTC Board met on March 24, 2026, to address penalties levied by the Exchanges for the quarter ending December 31, 2025, concerning non-compliance on Board Composition (specifically, failure to appoint a woman director). The Board noted the issue was beyond its control and requested the Administrative Ministry expedite appointments. Additionally, the Board approved a change in the nomination of the Chief Investor Relations Officer (CIRO).
Review of Exchange Penalties for Q3 FY26
The Board of Directors of the Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) convened on Tuesday, March 24, 2026, to consider matters arising from regulatory compliance. A key item discussed was the fines imposed by the National Stock Exchange (NSE) and BSE Limited for the quarter ended December 31, 2025.
The company was fined ₹5,42,200/- by each Exchange for the non-compliance related to Regulation 17(1) of the listing regulations, specifically concerning Board Composition due to the failure to appoint a woman director during that quarter.
Board’s Stance and Request
The Board deliberated on the matter and stated that the non-compliance was “beyond control of the Company.” IRCTC confirmed it had taken proactive steps by informing the Administrative Ministry (Ministry of Railways) in advance about the potential issue.
The Board expressed concern over the notices and advised that the Administrative Ministry must be requested on a regular basis to expedite the process to appoint the requisite number of independent directors, including a woman independent director, to prevent future breaches of applicable laws.
Update to Key Personnel
In a separate action related to compliance with trading regulations, the Board formally approved a change in the nomination of the Chief Investor Relations Officer (CIRO) of the Company. The updated details for the new CIRO have been made available on the company’s official website, www.irctc.com.
The communication was executed on behalf of the company by Suman Kalra, Company Secretary and Compliance Officer.
Source: BSE
