Indian Railway Finance Corporation Limited has announced the cessation of Independent Director Shri Vallabhbhai Maneklal Patel upon completion of his tenure. The government enterprise informed stock exchanges about this board change effective from 15th April 2026.

Board Change Details

The company filed the disclosure under Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Shri Vallabhbhai Maneklal Patel, who served as Non-Official Director (Independent Director), ceased to be Independent Director of IRFC with effect from 15th April 2026.

Regulatory Compliance

The announcement was made pursuant to applicable SEBI regulations and the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company submitted the required disclosure to both National Stock Exchange of India Limited and BSE Limited.

Company Information

Indian Railway Finance Corporation Limited operates as a Government of India Enterprise with CIN L65910DL1986GOI026363. The company's registered office is located at UG Floor, East Tower, NBCC Place, Bhisham Pitamah Marg, Pragati Vihar, Lodhi Road, New Delhi. Company Secretary and Compliance Officer Vijay Babulal Shirode signed the regulatory filing on behalf of IRFC.

Indian Railway Finance Corporation Limited has fulfilled its regulatory obligations by submitting the mandatory disclosure certificate for the quarter ended March 31, 2026, to both major stock exchanges. The submission demonstrates the company's commitment to maintaining transparency and compliance with securities market regulations.

Regulatory Compliance Details

The disclosure was submitted pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The communication, bearing reference number IRFC/SE/2026-27/01 and dated April 6, 2026, was addressed to both the National Stock Exchange of India Limited and BSE Limited.

Certificate Verification Process

Beetal Financial & Computer Services (P) Ltd, serving as the company's SEBI-approved Registrar & Share Transfer Agent, issued the confirmation certificate dated April 4, 2026. The certificate confirms that securities received from Depository Participants for dematerialization during the quarter ended March 2026 were properly processed and confirmed to the depositories.

The registrar confirmed several key compliance aspects:

• Securities received for dematerialization were accepted or rejected appropriately
• All securities have been listed on stock exchanges where earlier issued securities are traded
• Security certificates received for dematerialization were mutilated and cancelled after proper verification
• Depository names were substituted in the register of members as registered owners within the stipulated 15-day period

Corporate Governance Framework

The submission was signed by Company Secretary and Compliance Officer Vijay Babulal Shirode, ensuring proper authorization and accountability in the regulatory filing process. This quarterly disclosure represents part of the ongoing compliance requirements for listed companies to maintain transparency in their depository operations.

Regulatory Framework

The disclosure aligns with SEBI's regulatory framework established through multiple circulars, including NSDL/CIR/II/5/2019 dated January 25, 2019, and CDSL/OPS/RTA/POLCY/2019/14 dated January 25, 2019. These regulations ensure proper handling of dematerialized securities and maintain investor confidence in the depository system.