Background and Context
The disclosure is in response to BSE's email dated 25 August 2026 regarding intimation of fine due to non-compliance under Rules 17 to 21 of SEBI (LODR) 2015. This pertains to the Integrated Governance Report Filing for the quarter ended 30 June 2026.
Board Meeting and Discussion
The matter was placed before the ITDC Board in its meeting held on 08 September 2026. The Board was apprised of the specific non-compliance issues:
- Not having the minimum number of directors
- Not having the requisite number of Independent Directors
- Not having a woman Independent Director on the ITDC Board
Board Observation and Rationale
The Board observed that directors are appointed by the Government of India through the Administrative Ministry. The Board concluded that there is no fault of ITDC and therefore ITDC can seek waiver of penalties.
Current Status and Forward Action
ITDC is following up with the concerned appointing Authority. Once the compliance is achieved, necessary request will be submitted to the exchange for waiver of the imposed fine.