Indian Railway Catering and Tourism Corporation Limited has appointed Rajneesh Narain as its Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective July 14, 2026. The Board of Directors approved the appointment during a meeting held on the same date, strengthening the company's financial leadership with a veteran possessing over three decades of experience in the coal sector.

Narain, who holds the designation of Director (Finance) at IRCTC , was officially inducted into the CFO role on July 14, 2026. He had previously joined the organization as Director (Finance) on June 15, 2026. The appointment was disclosed to the exchanges pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015.

Profile of the Appointee

Rajneesh Narain (DIN: 09759359) brings extensive expertise in financial management, strategic planning, and stakeholder management. Before joining IRCTC, he served as the Director (Finance) of Northern Coalfields Limited (NCL). His career also includes a significant tenure at South Eastern Coalfields Limited (SECL), a subsidiary of Coal India Limited (CIL), where he led the corporate accounts team and handled business diversification.

Narain began his career in the Sohagpur area of SECL, holding key positions in accounting, taxation, fund management, contract management, and budgetary control. He also served as the CFO of Chhattisgarh East Railway Limited (CERL) and Chhattisgarh East West Railway Limited (CEWRL), subsidiaries of SECL, for six years. He holds a Master of Business Administration (Finance) degree and is noted for his skills in negotiation and team building.

Disclosure Details

The filing submitted to the exchanges disclosed that Narain holds 100 equity shares in the company. There are no disclosed relationships between directors that require reporting.

Indian Railway Catering and Tourism Corporation Ltd addressed penalties imposed by stock exchanges regarding non-compliance with board composition norms for the quarter ended 31 March 2026. The BSE and NSE levied a fine of ₹5,31,000 each on the company for failing to adhere to Regulation 17(1) of the SEBI (LODR) Regulations, 2015, which mandates specific board composition including the appointment of a woman director.

The board, in its meeting held on 14 July 2026, deliberated on the matter and stated that the observed non-compliance was beyond the company's control. The board noted that the company had taken proactive steps by informing the administrative ministry, the Ministry of Railways, well in advance about the potential non-compliance.

To prevent future lapses, the board advised that the administrative ministry be requested regularly to expedite the process of appointing the requisite number of independent directors, including a woman independent director. This measure aims to ensure compliance with the SEBI (LODR) Regulations, 2015, the Companies Act, 2013, and other applicable laws.

The fines were communicated to the company via letters from the NSE and an email from the BSE dated 27 May 2026. IRCTC had previously intimated the exchanges regarding this matter through a correspondence dated 28 May 2026.