IRCON Fined ₹19.54 Lakh by NSE & BSE for Board Composition Non-Compliance
Ircon International Limited was fined ₹9.77 lakh each by NSE and BSE for non-compliance with board composition norms for the quarter ending December 31, 2025. The total fine is ₹19.54 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 it is treated as a contingent liability. Past instances suggest fines are waived upon compliance.
The company has been fined by stock exchanges for non-compliance with regulations.
Ircon International Limited (IRCON) has been fined ₹9,77,040 each by the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) for non-compliance with regulations pertaining to the composition of its Board and committees for the quarter ended December 31, 2025. The total fine amounts to ₹19,54,080.
The company clarified to both exchanges that as a government company, the appointment of directors, including independent and woman directors, is vested with the President of India through the Ministry of Railways (MoR). IRCON has been consistently requesting MoR to appoint the requisite number of directors to ensure compliance.
Ircon International Limited stated that the imposition of these fines has no impact on its financial, operational, or other activities, and it has been accounted for as a contingent liability. The company has a history of receiving waivers for such fines from NSE and BSE upon achieving the necessary compliances, and expects the same in this instance once the appointments are made by MoR.
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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.