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Ircon Faces Rs 10 Million Penalty as Board Independence Dwindles
28 Nov 2023
1 Min Read
CW Team
Ircon, a prominent company, is in the midst of a financial setback, facing a substantial Rs 10 million penalty. The penalty stems from a concerning issue ? half of Ircon's board members lack independence. Regulatory authorities have imposed this penalty to uphold corporate governance standards. Ircon, known for its contributions to the infrastructure sector, must now address and rectify the composition of its board to align with regulatory requirements.
Ircon, a prominent company, is in the midst of a financial setback, facing a substantial Rs 10 million penalty. The penalty stems from a concerning issue ? half of Ircon's board members lack independence. Regulatory authorities have imposed this penalty to uphold corporate governance standards. Ircon, known for its contributions to the infrastructure sector, must now address and rectify the composition of its board to align with regulatory requirements.
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