Key Quantitative Figures
- Fine amount (including GST @18%): ₹5,31,000/- each from BSE and NSE
- Total fine amount: ₹10,62,000/-
Dates of Action
- Notice received: May 27, 2026 (via email)
- Disclosure date: May 28, 2026
- Period of non-compliance: Quarter ended March 31, 2026
Parties Involved
- Regulators: BSE Limited, National Stock Exchange of India Limited
- Government authority: Ministry of Railways, Government of India
Reason for Fine
Non-compliance with provisions of Regulations 17(1) of SEBI (LODR) Regulations, 2015 specifically pertaining to:
- Composition of the Board of Directors
- Failure to appoint a woman director
Company's Explanation
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 from time to time for appointing requisite number of Independent Directors, including Women Independent Director, and the matter is pending at the level of Government of India.
Financial Impact
As explicitly disclosed: "The aforesaid fine imposed on the Company has no impact on the financial, operation or other activities of the Company."
Historical Context
The disclosure notes that "in the past also, similar letters have been received and waiver request was considered favorably by the Exchanges."