IRCON International Ltd

IRCON International Fined ₹9.77 Lakh Each by NSE & BSE Over Board Composition Non-Compliance ⚖️

• Fined ₹9,77,040 each by NSE and BSE for non-compliance with SEBI LODR Regulations 17(1), 18(1), and 19(1)/19(2) for the quarter ended December 31, 2025

• Non-compliance relates to board and committee composition, specifically appointment of independent directors and a woman director

• IRCON is a government company; all directors are appointed by the President of India through the Ministry of Railways

• Company has been requesting Ministry of Railways to appoint required independent directors, including a woman independent director

• Fines have no financial, operational, or other impact on the company and are recorded as a contingent liability

• IRCON may be eligible for a waiver of the fines upon achieving compliance, as per SEBI policy