IRCTC Fined ₹10.23 Lakh Each by BSE & NSE for Board Composition Lapse
New Delhi, August 26, 2026: Indian Railway Catering and Tourism Corporation Limited (IRCTC) has informed the stock exchanges that it has received notices from BSE Limited and National Stock Exchange of India Limited imposing fines for non-compliance with SEBI LODR regulations.
Key Details
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Period of Non-Compliance: Quarter ended 30 June 2026
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Fine Amount: ₹10,23,060 each from BSE and NSE (including GST @18%)
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Regulations Violated: 17(1), 18(1), 19(1)/(2), 20(2)/(2A) and 21(2) of SEBI (LODR) Regulations, 2015
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Reason: Non-compliance related to the composition of the Board of Directors and its Committees
Company’s Response
IRCTC stated that it is a Government Company and the power to appoint Directors, including Independent Directors, vests with the President of India through the Ministry of Railways. The company has been following up with the Ministry for the appointment of the required number of Independent Directors, including a Women Independent Director.
The company has clarified that the fine has no impact on its financial, operational or other activities. In the past, similar fines were imposed and waiver requests were considered favourably by the exchanges after the company achieved compliance.
The disclosure has been made under Regulation 30 of the SEBI Listing Regulations.