Indian Railway Finance Corporation Limited — Important, 18-07-2025: Updates

Indian Railway Finance Corporation (IRFC) received a penalty from stock exchanges for not meeting requirements on board composition and committee formation. The company's board has urged the Ministry of Railways to expedite the appointment of necessary Independent Directors. IRFC is appealing the penalty, emphasizing that as a government company, director appointments are controlled by the President of India via the Ministry of Railways, not the company itself. IRFC highlighted that exchanges previously waived similar penalties on the same grounds, indicating a precedent.