India Tourism Development Corporation Ltd has strengthened its Board with the appointment of Malay Kumar Singha as an Independent Director, effective from June 18, 2026. The appointment is for a period of three years, aligning with the Ministry of Tourism's order dated May 25, 2026. Singha is an Advocate with extensive experience in legal advisory, regulatory compliance, and legal management, specializing in complex legal matters and result-oriented solutions.

The Board of Directors approved the appointment of Singha as an Additional Director (Independent Director) through a resolution passed by circulation on June 5, 2026. He has been allotted Director Identification Number (DIN) 11776378. The appointment follows the Ministry of Tourism's Office Memorandum No. PSU-6/1/2025-PSU.

The company confirmed that Singha is neither related to any existing Director of the Company nor has he been debarred from holding office by SEBI or any other authority. The disclosure was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with the SEBI Master Circular dated January 30, 2026.

Key Details of Appointment

The appointment is subject to the completion of formal procedural requirements and notifications. Virendra Kumar Jain, Company Secretary, signed the regulatory filings submitted to the exchanges.

India Tourism Development Corporation reported non-compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, regarding board and committee composition for the financial year ended March 31, 2026. The company incurred fines from BSE Limited and National Stock Exchange Limited due to the non-appointment of Independent Directors, including a woman Independent Director. Being a Government Company, the appointment of Directors is managed by the administrative Ministry, specifically the Ministry of Tourism, Government of India, which the company stated was beyond its control.

Board Composition and Penalties

The listed entity was in default of Regulation 17(1) of the SEBI (LODR) Regulations, 2015, concerning the composition of the Board. Consequently, the stock exchanges imposed fines for multiple quarters in FY26.

Committee Non-Compliance

The Annual Secretarial Compliance Report also highlighted deviations in the constitution of key committees, including the Audit Committee, Nomination and Remuneration Committee, Stakeholder Relationship Committee, and Risk Management Committee. These non-compliances arose because the committees had only one Independent Director, appointed with effect from April 16, 2025, whereas regulations required a higher number of Independent Directors.

Audit Committee Fines

The Audit Committee was not constituted in compliance with Regulation 18 of the SEBI (LODR) Regulations, 2015. The fines imposed by the exchanges for this deviation were:

Nomination and Remuneration Committee Fines

Similar non-compliance was observed in the Nomination and Remuneration Committee under Regulation 19(1)&(2). The fines levied were:

Stakeholder Relationship and Risk Management Committees

The Stakeholder Relationship Committee and Risk Management Committee were not compliant with Regulations 20(2)&(2A) and 21(2) respectively, during the period from April 1, 2025, to April 15, 2025. Both committees became compliant upon the appointment of an Independent Director on April 16, 2025. Fines for these periods included Rs. 1,58,120 for the March 2025 quarter and Rs. 35,400 for the June 2025 quarter from each exchange.

Other Compliance Status

The report confirmed that the company complied with other applicable regulations, including Secretarial Standards, maintenance of website disclosures, and preservation of documents. No additional non-compliances were observed. The company stated it would submit requests for waiver of the fines to both stock exchanges upon achieving full compliance with the applicable provisions.