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Indian Railway Finance Corporation (IRFC) has received fines of ₹5.42 lakh from both BSE and NSE for non-compliance with board composition requirements under Regulation 17(1) for the quarter ended September 30, 2024. While the financial impact is negligible, IRFC has stated that it has no control over director appointments, which are vested with the President of India via the Ministry of Railways. The company has previously received waivers for similar fines and is actively requesting the exchanges to reconsider the current penalties based on the ongoing efforts to comply with Corporate Governance norms. Investors should watch closely as this situation unfolds and affects future governance and operational stability.
All announcements from Indian Railway Finance Corporation Limited