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IRCTC's board has approved initiating winding-up proceedings against Royale Indian Rail Tours Limited (RIRTL), a 50:50 joint venture with Cox & Kings. This JV ceased operations in 2011 due to disputes and has not generated revenue or conducted business for over 13 years, with its status publicly disclosed in IRCTC's financial reports. Critically, IRCTC expects no material operational or financial impact from these proceedings, as RIRTL's non-functionality has already been factored in, streamlining IRCTC's portfolio.
All announcements from Indian Railway Catering And Tourism Corporation Limited