RITES Limited has responded to fines levied by NSE and BSE, each amounting to ₹94,400, for non-compliance with Regulation 17(1) of SEBI Listing Regulations concerning Board Composition, specifically the failure to appoint a woman director for the quarter ended March 31, 2026. The Board of Directors, in their meeting on June 25, 2026, deliberated on the matter. They noted that the non-compliance was beyond the company's control, as RITES had proactively informed the Ministry of Railways about the potential issue well in advance. The Board expressed concern over the notices and advised regular requests to the Administrative Ministry to expedite the appointment of requisite independent directors, including a woman independent director, to prevent future non-compliance with Listing Regulations and the Companies Act, 2013. Furthermore, RITES highlighted that as a Government Company, the appointment of Independent Directors to its Board is vested with the Hon’ble President of India, acting through the Ministry of Railways, and the company itself has no role in this appointment process.
