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IRCTC Receives Fines from BSE and NSE for Non-Compliance with SEBI Regulations

Strategic Insights

— 1 min read

The Indian Railway Catering & Tourism Corporation Limited (IRCTC) has received fines from the BSE and NSE for non-compliance with SEBI regulations. The fine, amounting to ₹6,54,900 each from the two exchanges, is due to the company's failure to appoint a woman director and constitute the Audit Committee and the Nomination & Remuneration Committee. IRCTC has represented to the exchanges for a review of the fine, citing that the power to appoint directors lies with the President of India, represented through the Ministry of Railways, Government of India. The matter is currently pending at the government level.

Key Takeaways:

  • The fine imposed on IRCTC is ₹6,54,900 each from BSE and NSE, totaling ₹13,09,800.
  • The non-compliance was due to the company's failure to appoint a woman director and constitute the Audit Committee and the Nomination & Remuneration Committee.
  • IRCTC has represented to the exchanges for a review of the fine, citing that the power to appoint directors lies with the President of India.
  • The matter is currently pending at the level of the Government of India.
  • IRCTC's financial, operational, and other activities are not impacted by the fine.
  • This is not the first time IRCTC has received similar fines from the exchanges; in the past, similar letters were received and waiver requests were considered favorably by the exchanges.

Statistics:

  • Amount of fine: ₹6,54,900 each from BSE and NSE (totaling ₹13,09,800).
  • Quarter ended: June 30, 2025.
  • Year: 2025.
  • Regulatory provisions violated: Regulations 17(1), 18(1), and 19(1)/19(2) of the SEBI (LODR) Regulations, 2015.

Sources:

  • "Disclosure of event or information under Regulation 30 of SEBI (LODR) Regulations, 2015." Indian Railway Catering & Tourism Corporation Limited, August 29, 2025.

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