The Exchanges have levied fines on Indian Railway Catering and Tourism Corporation (IRCTC) for non-compliance with certain regulations for the quarter ended June 30, 2025. The non-compliance relates to Board composition, including the failure to appoint a woman director, and the constitution of required committees. IRCTC has requested the administrative ministry to expedite the appointment of independent directors.
Exchange Fines for Non-Compliance
Indian Railway Catering and Tourism Corporation (IRCTC) has received notices from the Exchanges regarding fines levied for non-compliance with specific regulations for the quarter ended June 30, 2025. These regulations pertain to:
- Board Composition (failure to appoint a woman director).
- Constitution of the Audit Committee.
- Constitution of the Nomination & Remuneration Committee.
IRCTC’s management has addressed the matter and communicated that the non-compliance issues are beyond the company’s direct control.
Company Response and Actions
IRCTC has already taken proactive measures by informing and requesting the Ministry of Railways to address these non-compliance matters. The Board has expressed its concern and has requested that the ministry expedite the process of appointing the required number of independent directors, including a woman director, to ensure compliance with all applicable regulations and laws.
Source: BSE
