Indian Railway Catering And Tourism Corporation Limited — Important, 18-03-2025: General Updates

IRCTC has received notices from BSE and NSE regarding fines of ₹5,42,800 each for not complying with the requirement for a sufficient number of Independent Directors on its Board for the quarter ending December 31, 2024. The company has formally requested a review of the fines, noting that the appointment of Directors, including Independent Women Directors, is the prerogative of the President of India through the Ministry of Railways. IRCTC is actively pursuing this matter with the government, which has historically considered similar waiver requests favorably. This situation underscores the ongoing challenges IRCTC faces regarding board composition and governance, and investors should watch closely for developments in this regard.