Ircon International Limited (IRCON) held a Board Meeting on May 7, 2026, where key decisions were made. The Board reviewed and noted the fine imposed by the National Stock Exchange (NSE) and BSE Limited (BSE) for non-compliance with regulations concerning the composition of the Board and its committees (Audit Committee and Nomination & Remuneration Committee) for the quarter ended December 31, 2025. IRCON has stated that as a Government Company, the appointment of directors, including independent and women directors, is vested with the President of India through the Ministry of Railways. IRCON has been requesting the Ministry for the requisite number of independent directors to ensure compliance and therefore considers the fine unreasonable and not applicable. In a separate significant decision, the Board approved the designation of Shri Rajesh Naik, Director (Projects), as a Key Managerial Personnel (KMP) of the Company. This designation is effective from February 13, 2026, the date he assumed charge as Director (Projects), and will continue until his superannuation on May 31, 2030, or until further orders. Shri Naik brings over 32 years of experience in planning, engineering, project management, and contract management for large-scale infrastructure projects, with over 12 years of international experience.
