IRCON fined ₹19.11 Lakh by NSE & BSE for Board Composition Non-compliance
Ircon International Limited was fined ₹9.55 Lakh each by NSE and BSE for non-compliance with board composition norms for Q4 FY26. The total fine is ₹19.11 Lakh. The company attributes the non-compliance to delays in director appointments by the Ministry of Railways.
The company has stated that the fine has no impact on its financial, operational, or other activities and expects it to be waived upon compliance.
The company has been fined by both stock exchanges for non-compliance with regulatory requirements.
Ircon International Limited (IRCON) has been levied a fine of ₹9,55,800 each by the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) for non-compliance with regulations pertaining to the composition of the Board and its committees for the quarter ended March 31, 2026. The total fine amounts to ₹19,11,600.
The company has clarified to the exchanges that as a Government Company, the appointment of Directors, including Independent Directors and Woman Directors, is vested with the President of India through the Ministry of Railways. IRCON has no role in these appointments and has been consistently requesting the Ministry of Railways for the appointment of the requisite number of directors.
While the fine has been identified as a contingent liability in the financial statements, it is stated to have no impact on the company's financial, operational, or other activities. IRCON anticipates that the fines will be waived upon achieving compliance, as has been the case in previous instances.
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Ircon International Limited filed this with the NSE as a statutory disclosure, categorised under other regulatory filings. It is a primary document, not a recommendation, and the desk marks it low impact, the band that almost never moves a portfolio on its own.
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See the model portfoliosA plain-language summary of a public exchange filing by Ircon International Limited. Read the original for the full detail.