IRCTC Approves Winding-up Proceedings Against Joint Venture RIRTL

Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has approved the initiation of winding-up proceedings against Royale Indian Rail Tours Limited (RIRTL), a joint venture between IRCTC and Cox & Kings Limited. The decision comes after a dispute between the two stakeholders that led to the termination of the joint venture in 2011. RIRTL has not been operational since then, with no board meetings, financial statements, or returns filed since the financial year 2010-11. The winding-up proceedings will be filed before the National Company Law Tribunal, New Delhi. IRCTC assures that the non-functioning of RIRTL has not had any material operational or financial impact on the company.