Three PSU firms receives notices by NSE and BSE for non-compliance in Q3FY26

Railway PSU, Indian Railway Catering and Tourism Corporation (IRCTC) has received Notices from BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) regarding imposition of fines for the non-compliance with the provisions of Regulations

Mumbai: Railway PSU, Indian Railway Catering and Tourism Corporation (IRCTC) has received Notices from BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) regarding imposition of fines for the non-compliance with the provisions of Regulations 17(1) of the SEBI (LODR) Regulations, 2015 for the quarter ended December 31, 2025.

The non-compliance pertains to the composition of the Board of Directors, including failure to appoint a woman director.

The Amount of Fine (including GST @18%) is Rs 5,42,800/- each from BSE & NSE.

IRCTC is a Government Company and the power to appoint Directors including Independent Directors on its Board vests with the President of India, represented through Ministry of Railways, Government of India. The Company is following up with Ministry of Railways Government of India from time to time for appointing requisite number of Independent Directors, including Women Independent Director on its Board and the matter is pending at the level of Government of India.

Also, Shipping Corporation of India Land and Assets Ltd has received email from BSE Limited dated 27.02.2026 and notice from National Stock Exchange of India Limited vide email dated 27.02.2026, levying a total fine of Rs. 9,77,040/- each (Rs. 8,28,000/- each plus 18% GST) for the non-compliance during the quarter ended 31.12.2025:

Both of the PSU Companies has mentioned that there will be no impact on the financial, operation or other activities of the Company. Further, MOIL Ltd has also announced the notice of fines imposed by NSE and BSE of Rs 5.42 lakh each for the provisions of composition of Board for the quarter ended 31st December, 2025.