Ircon faces Rs 10 mn penalty

01 Dec 2023 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.

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