Indian Railway Catering and Tourism Corporation MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 29 Sep 2026, 10 fund houses so far (houses' deadline to file 15 Oct 2026)

• To receive, consider and adopt the audited Standalone as well as Consolidated Financial Statements of the Company for the financial year ended March 31, 2026, along with the Board’s Report, the Auditor’s Report, and the comments of the Comptroller and Auditor General of India (C&AG) thereon.MoreLess

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Non-Compliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.
  • DSP Mutual Fund, Jio BlackRock Mutual FundWe have relied upon the auditor's report which has several emphases of matter which include: an arbitral award of ~Rs. 747.2 mn plus interest in favour of licensees, which has now been finally adjudicated in the company's favour by the Supreme Court (November 2025); an anti-profiteering case of Rs. 504.1 mn relating to Railneer pricing, now pending before the GST Appellate Tribunal; and pending GST advance rulings on receipts aggregating ~Rs. 3.36 bn. The company has also not recognised the impact of enhanced catering license fees for pre-paid and post-paid trains (2019 onwards), as the matter remains sub-judice across multiple High Courts. Trade receivables from Railways and Government stand elevated at Rs. 18.70 bn (of which Rs. 3.90 bn are outstanding for over three years and Rs. 0.36 bn are in default). In addition, there are ongoing disputes on GST input tax credit data with certain Rail Neer plant operators, weak balance confirmation and reconciliation processes (including with private parties and banks), and differences between subsidiary and control ledger balances that remain under reconciliation. Based on the auditor's report, which is unqualified, the financial statements are in accordance with generally accepted accounting policies and Indian Accounting Standards (Ind-AS). We raise concern that the company has not constituted an audit committee in line with regulations and did not have sufficient independent directors on the board when the accounts were finalized. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundUnqualified Financial Statements (except certain non-material remarks identified in CARO report). Governance concern: NonCompliant Audit Committee at the time of approval of financial statements. Absence of a compliant Audit Committee casts serious doubts over the integrity/ accuracy of the financial statements.

  4 for6 against
• To confirm the payment of 1st interim dividend of Rs.5.00 per equity share, 2nd interim dividend of Rs.3.50 per equity share, and to declare a final dividend of Rs. 0.50 per equity share for the financial year ended March 31, 2026.MoreLess

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. Sufficient funds available for payment of final dividend. Governance Concern is raised in adoption of financial statements of the Company under resolution #1, final dividend being appropriation post approval of accounts, cannot be paid if accounts are not voted FOR.

  6 for4 against
• To appoint a Director in place of Shri Shivendra Shukla (DIN: 10765384), who retires by rotation and being eligible, offers himself for re-appointment.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • DSP Mutual FundShivendra Shukla, 53, is Indian Railway Traffic Services (IRTS) officer of the 1998 batch. He has been on board since 3 September 2024. He has attended seven out of nine (78%) board meetings held during FY26. We expect directors to attend all board meetings and have a minimum threshold of 75% attendance in the year of and the three year period prior to reappointment. We note that he is a member of the Audit committee and the Nomination and Remuneration Committee. We believe the Audit Committee and the NRC must comprise of non-tenured and non-conflicted Independent Directors only.We note that he represents Government of India on the board. He is liable to retire by rotation. While his reappointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern identified w.r.t. the merits of proposed appointees. Governance concern: Board is noncompliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • Jio BlackRock Mutual FundShivendra Shukla, 53, is Indian Railway Traffic Services (IRTS) officer of the 1998 batch. He has been on board since 3 September 2024. He has attended seven out of nine (78%) board meetings held during FY26. We expect directors to attend all board meetings and have a minimum threshold of 75% attendance in the year of and the three year period prior to reappointment. We note that he is a member of the Audit committee and the Nomination and Remuneration Committee. We believe the Audit Committee and the NRC must comprise of non-tenured and non-conflicted Independent Directors only. We note that he represents Government of India on the board. He is liable to retire by rotation. While his reappointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution

  4 for6 against
• To authorize the Board of Directors of the Company to fix the remuneration of the Statutory Auditors to be appointed by Comptroller and Auditor General of India (C and AG) for the financial year 2026-27, on the basis of recommendations of Audit Committee.MoreLess

  10 for0 against
• To appoint Shri Navin Kumar Parsuramka (DIN: 11576415), as Government Nominee Director of the Company.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • DSP Mutual FundNavin Kumar Parsuramka, 56, is the Indian Railway Traffic Service (IRTS) officer of 1992 batch. He is the Executive Director (Coaching), Ministry of Railways. He has over 30 years of experience in Indian Railways. He will represent Government of India on the board. He is liable to retire by rotation. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution.Further, although not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointment.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern identified w.r.t. the merits of proposed appointees. Governance concern: Board is noncompliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • Jio BlackRock Mutual FundNavin Kumar Parsuramka, 56, is the Indian Railway Traffic Service (IRTS) officer of 1992 batch. He is the Executive Director (Coaching), Ministry of Railways. He has over 30 years of experience in Indian Railways. He will represent Government of India on the board. He is liable to retire by rotation. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution. Further, although not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointment.

  4 for6 against
• To appoint Shri Rajneesh Narain (DIN: 09759359), as Director (Finance) of the Company.

  ›Against Angel One Mutual Fund, Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern identified w.r.t. the merits of proposed appointee. Governance concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director.

  6 for4 against
• To amend the Articles of Association of the Company.

  10 for0 against
• To appoint Dr. Sachin Balkrishna Sabnis (DIN: 00702441) as Independent Director of the Company.

  ›Against Angel One Mutual Fund, DSP Mutual Fund, Edelweiss Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Navi Mutual Fund

  • Angel One Mutual FundGovernance concern: Term of appointment is ambiguous and against spirit of the law.
  • DSP Mutual Fund, Jio BlackRock Mutual FundDr. Sachin Balkrishna Sabnis, 54, is first generation entrepreneur and industrialist with over three decades of experience in the engineering and manufacturing sector. He is Director in LUB E-mart Advanced Platform Foundation and Founder and MD of Belgaum Ferrocast (India) Pvt. Ltd. He has done Ph.D., B.E (Mechanical) from K.L.E. College of Engineering, Belagavi, Karnataka. Public sources indicate that he has political affiliations, which we believe may unnecessarily politicize the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliation as a part of his profile. We do not support the resolution.
  • Edelweiss Mutual Fund, LIC Mutual Fund, Navi Mutual FundCompliant with law. No concern on the merits of proposed appointee. Governance concern: Term of appointment is ambiguous and against spirit of the law.

  4 for6 against

Mutual fund votes, meeting of 30 Aug 2025, 25 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To receive, consider and adopt the audited Standalone as well as Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2025, along with the Board`s Report, the Auditors Report, and the comments of the Comptroller and Auditor General of India (C and AG) thereonMoreLess

  24 for0 against
• To confirm the payment of 1st interim dividend of Rs. 4.00 per equity share, 2nd interim dividend of Rs. 3.00 per equity share; and to declare a final dividend of Rs. 1.00 per equity share

  25 for0 against
• To appoint a Director in place of Mr. Rahul Himalian (DIN:10393348), Director (Tourism and Marketing), who retires by rotation and being eligible, offers himself for re-appointment

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Rahul Himalian is a non-independent director nominee.
  • PPFAS Mutual FundBoard is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director

  14 for11 against
• To authorize the Board of Directors of the Company to fix the remuneration of the Statutory Auditors to be appointed by Comptroller and Auditor General of India (C and AG) for the financial year 2025-26, on the basis of recommendations of Audit CommitteeMoreLess

  25 for0 against
• To appoint Mr. Shivendra Shukla (DIN: 10765384), as Government Nominee Director of the Company

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PPFAS Mutual Fund, Tata Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director. Delayed shareholders’ approval.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, NJ Mutual FundShivendra Shukla, 51, is an Indian Railway Traffic Services (IRTS) officer of the 1998 batch. He is the Executive Director of Passenger Marketing at the Railway Board. Before assuming his current role, he served as Additional Divisional Railway Manager, Lucknow (Northern Railway). He will represent Government of India on the board. He is liable to retire by rotation. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution. Further, although not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointment.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundAppointment compliant with law. No concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director. Delayed shareholders’ approval.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Shivendra Shukla is a non-independent director nominee.
  • Invesco Mutual FundShivendra Shukla, 51, is an Indian Railway Traffic Services (IRTS) officer of the 1998 batch. He is the Executive Director of Passenger Marketing at the Railway Board. Before assuming his current role, he served as Additional Divisional Railway Manager, Lucknow (Northern Railway). He will represent Government of India on the board. He is liable to retire by rotation. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation. We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution.Further, although not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointmen. This is in line with our ESG framework.
  • LIC Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number of Independent Directors and Woman Director/ Woman Independent Director. Delayed shareholders approval.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • PPFAS Mutual FundBoard is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director. Delayed shareholders’ approval
  • Tata Mutual FundShivendra Shukla, 51, is an Indian Railway Traffic Services (IRTS) officer of the 1998 batch. He is the Executive Director of Passenger Marketing at the Railway Board. Before assuming his current role, he served as Additional Divisional Railway Manager, Lucknow (Northern Railway). He will represent Government of India on the board. He is liable to retire by rotation. While his appointment is in line with statutory requirements, we are unable to support the resolution because the board composition is not compliant with regulations on independent director’s representation ( Currently, the Board of the Company has 9 Directors and there are only 3 Independent Director on the Board as against the Compliance requirement of 50% and the Company does not have atleast one-woman Director). We expect the Government of India to first address the board composition, before reappointing its nominees to the board. We do not support the resolution.

  8 for17 against
• To appoint Mr. Sudhir Kumar (DIN: 10834749), as Director (Finance) of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Sudhir Kumar is a non-independent director nominee.
  • PPFAS Mutual FundBoard is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director

  14 for11 against
• To appoint Mr. Manoj Kumar Sharma (DIN: 11214123), as Director (Catering Services) of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Franklin Templeton Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual Fund, Nippon India Mutual FundGovernance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of proposed appointee. Governance Concern: Board is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director.
  • Franklin Templeton Mutual FundA vote AGAINST the following nominee is warranted because the board is chaired by an executive director and the board is not at least one-half independent and Manoj Kumar Sharma is a non-independent director nominee.
  • PPFAS Mutual FundBoard is non-compliant with the requirement of requisite number Independent Directors and Woman Director/ Woman Independent Director

  14 for11 against
• To re-appoint Mr. Namgyal Wangchuk (DIN: 09397676) as Independent Director of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval.Term of appointment is ambiguous.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Non-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law.
  • Nippon India Mutual FundNon-Compliance with the Companies Act: No cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law.
  • PPFAS Mutual FundNo cooling-off period of 3 years post cessation of previous directorships, no consecutive terms between the two appointments. Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law

  15 for10 against
• To appoint Mr. Sanjay Gaur (DIN: 09399463) as Independent Director of the Company

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Invesco Mutual Fund, Jio BlackRock Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PPFAS Mutual Fund, UTI Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous. Appointment for a period of only 1 year.
  • Axis Mutual Fund, Jio BlackRock Mutual Fund, NJ Mutual FundSanjay Gaur, 50, is a self-employed professional and social worker with over 15 years of experience in the Pharma and Financial sectors. His appointment meets all the statutory requirements. Public sources suggest that he has political affiliations. We do not support his reappointment as an Independent Director as we believe his political affiliations may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliations as a part of his profile. We do not support the resolution. While not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointment.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundNo concern on the merits of Director. Governance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law. Appointment for a period of only 1 year.
  • Invesco Mutual FundSanjay Gaur, 50, is a self-employed professional and social worker with over 15 years of experience in the Pharma and Financial sectors. His appointment meets all the statutory requirements. Public sources suggest that he has political affiliations. We do not support his reappointment as an Independent Director as we believe his political affiliations may unnecessarily politicise the decisions of the company and distract the management from its core focus. The company should have disclosed his political affiliations as a part of his profile. We do not support the resolution.While not required under regulations, we expect the company to seek shareholders’ approval within three months of board appointment. This is in line with our ESG framework.
  • LIC Mutual FundGovernance concern: Delayed Shareholders approval. Term of appointment is ambiguous and against spirit of the law. Appointment for a period of only 1 year.
  • Mirae Asset Mutual FundAs per advisory recommendation (Passive holding)
  • Nippon India Mutual FundGovernance concern: Delayed Shareholders’ approval. Term of appointment is ambiguous and against spirit of the law. Appointment as ID for a period of only one year.
  • PPFAS Mutual FundDelayed Shareholders’ approval, Term of appointment is ambiguous and against spirit of the law. Appointment for a period of only 1 year
  • UTI Mutual FundPublic sources suggest he is politically affiliated.

  9 for16 against
• To appoint M/s Balika Sharma and Associates, Practicing Company Secretaries as Secretarial Auditor of the Company

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual FundTransparency Concern: The Company has not disclosed the audit fee paid to outgoing Auditor and if there is any material change in the proposed audit fee and justification for material change if any.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. No concern on the merits of proposed Auditors. Transparency Concern: The Company has not disclosed the audit fee paid to outgoing Auditor and if there is any material change in the proposed audit fee and justification for material change if any.
  • Nippon India Mutual FundTransparency concern: No adequate disclosure
  • PPFAS Mutual FundAudit fee paid to outgoing auditors and Material change in the proposed audit fees not disclosed

  15 for10 against

• Fine or penaltyNational Stock Exchange of India LimitedSince 29 Sep 2026

  Fine

  NSE vide its email dated 29.09.2026 has levied fine of Rs. 29500/- (incl. GST) on the Company for non-compliance with Regulation 44(5) i.e. non-convening of annual general meeting within a period of five months from the close of financial year.MoreLess
• Fine or penaltyBSE LimitedSince 29 Sep 2026

  Fine

  BSE vide its email dated 29.09.2026 has levied fine of Rs. 29500/- (incl. GST) on the Company for non-compliance with Regulation 44(5) i.e. non-convening of annual general meeting within a period of five months from the close of financial year.MoreLess
• Tax disputeGSTAT (erstwhile) Competition Commission of India.Since 26 Jun 2020
  The GSTAT has passed final order on dated 14.10.2026 and has accepted the Directorate General of Anti-Profiteering (DGAP) Report and rejected all objections to the same. IRCTC has now been directed to deposit the profiteered amount as calculated, i.e Rs.50,41,44,461/- along with interest @ 18% as per Rule 133(3)(c) of the CGST Rules, 2017 w.e.f. 28.06.2019, in the Central Consumer Welfare Fund as well as in the State Consumer Welfare Funds in the ratio of 50:50 equally, in accordance with the state-wise bifurcation of the profiteering amount shown by the DGAP in its report within one month. It has further been directed that if the deposit of the profiteered amount plus interest is not made within 30 days, a further penalty of 10% will also apply. An appeal to the said order is being preferred before the Competent court of Jurisdiction. The same has also been informed to the exchanges vide our intimation dated 15.10.2026.MoreLess
  At the filing before: As informed by counsel of IRCTC, case was heard on 15.07.2026. The Tribunal has given two weeks’ time to IRCTC to file the invoices along with the computation note, as a final opportunity.

In the company's own words, from its latest governance filing.

The board is made up as the listing rules require

No

The board has a regular chairperson

Yes

The company has a risk management committee

Yes

The chair is related to the managing director

Yes

The filing has a part on fines and penalties

Yes

The filing has a part on tax disputes

Yes

There was a cyber security incident in the quarter

No

The company's own answers in its filing.