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IRCTC has received notices from BSE and NSE regarding fines totaling ₹10,85,600 (₹5,42,800 each from both exchanges) for not maintaining the required number of Independent Directors on its Board for the quarter ended September 2024. The company has already reached out to the exchanges for a review of the fines, citing its status as a government company, where the appointment of directors is under the purview of the President of India, represented through the Ministry of Railways. IRCTC is actively following up with the Ministry for the necessary appointments. Previously, similar waiver requests were favorably considered by the exchanges, indicating a potential for a positive resolution in this case. Investors may want to watch this situation closely as it could impact governance perceptions and the company's operational outlook.
All announcements from Indian Railway Catering And Tourism Corporation Limited