Nature of the Event
IRCTC has received regulatory fines from both BSE Limited and National Stock Exchange of India Limited for non-compliance with SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.
Key Quantitative Figures
- Fine amount: ₹10,23,060/- (including 18% GST) from each exchange
- Total fine amount: ₹20,46,120/- (combined from both exchanges)
Dates of Action
- Fine imposition notices received: August 25, 2026 (via email)
- Disclosure filing date: August 26, 2026
- Period of non-compliance: Quarter ended June 30, 2026
Parties Involved
- Regulators: BSE Limited and National Stock Exchange of India Limited
- Government authority: Ministry of Railways, Government of India
Purpose or Rationale
IRCTC is a Government Company where the power to appoint Directors (including Independent Directors) vests with the President of India, represented through Ministry of Railways, Government of India. The company is following up with Ministry of Railways for appointing requisite number of Independent Directors, including Women Independent Director.
Financial Impact Assessment
The company states that the fines have no impact on financial, operational or other activities of the Company.
Historical Context
The disclosure notes that similar letters have been received in the past, and waiver requests were considered favorably by the Exchanges subsequent to compliances made by the Company.