IRCON board addresses exchange fines, appoints new auditors

IRCON International’s board of directors met on September 10, 2025, to discuss fines levied by the National Stock Exchange of India (NSE) and BSE Limited. These fines, communicated on August 29, 2025, stem from non-compliance with SEBI (LODR) Regulations, 2015, specifically regarding the composition of the board and its committees for the quarter ended June 30, 2025. IRCON, a government company, noted that the President of India appoints its directors, including independent and women directors, through the Ministry of Railways, and the company has been consistently requesting the necessary appointments.

In addition to addressing the non-compliance, the board also appointed new internal auditors for the financial years 2025-26 and 2026-27, with an option to extend for 2027-28. M/s HDSG & Associates will cover the Corporate Office Region, M/s R.N. Singh & Co. the Patna Region, M/s S C Mehra & Associates LLP the Mumbai Region, M/s Biswas Dasgupta Datta & Roy the Eastern Region, and M/s Dharam Raj & Co. the J&K Region. These appointments cover various audit regions, including foreign projects.