IRFC Board Seeks Waiver for Stock Exchange Fines
Indian Railway Finance Corporation Ltd (IRFC) has commented on fines levied by stock exchanges for non-compliance with board composition and committee requirements for the quarter ended March 31, 2026. The Board noted the non-compliance and the imposed fines. It has requested the Ministry of Railways to expedite the appointment of Independent Directors, including a woman director, as director appointments are beyond the company's control. IRFC also highlighted that NSE and BSE have previously waived similar fines for the company on the same grounds. The company has requested the exchanges to waive the current fine, citing that director appointments are controlled by the President of India via the Ministry of Railways.
Key Highlights
- IRFC fined by stock exchanges for non-compliance in board composition.
- Board seeks Ministry of Railways to expedite director appointments.
- Company requests waiver of fines, citing lack of control over appointments.
- Past instances of waived fines on similar grounds noted.
- Non-compliance pertains to Audit and Nomination/Remuneration committees.
Price Impact
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