Updates

IRCON/SECY/STEX/124 26th June, 2026 BSE Limited National Stock Exchange of India Limited Listing Dept./ Dept. of Corporate Services Listing Department Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C-1, G Block, Dalal Street, Bandra –Kurla Complex, Mumbai – 400001 Bandra (East), Mumbai – 400051 पी. जे. टावस(cid:330), दलाल (cid:720)(cid:332)ीट, ए(cid:411)च(cid:336)ज (cid:600)ाजा, (cid:600)ॉट नं सी-1, जी (cid:624)ॉक, मुंबई– 400001 बां(cid:363)ा-कु ला(cid:330) कॉ(cid:817)(cid:600)े(cid:411), बां(cid:363)ा (पूव(cid:330)), मुंबई-400051 Scrip code / ID: 541956 / IRCON Scrip Code: IRCON Sub: Outcome of Board Meeting held on 26th June, 2026/ 26 जून, 2026 को आयोिजत बोड(cid:330) बैठक का Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 [“SEBI (LODR) Regulations, 2015”], this is to inform that the Board of Directors at their meeting held today i.e., Friday, 26th June, 2026, inter-alia, has considered the following: A. Board Comments on fine levied by the Exchanges for the quarter ended 31st March, 2026 This is with reference to the National Stock Exchange of India Limited (“NSE”) letter and BSE Limited (“BSE”) email both dated 27th May, 2026, regarding imposing fine on the Company for non-compliance with Regulations 17(1), 18(1) and 19(1)/19(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 i.e. non-compliance for the composition of the Board and its committees i.e. Audit Committee and Nomination & Remuneration Committee for the quarter ended 31st March, 2026, to which the Company has sent clarification letter dated 27th May, 2026 to NSE and BSE. The same was also intimated to NSE and BSE vide our letter No. IRCON/SECY/STEX/124 dated 27th May, 2026. As advised by the Exchanges, the aforesaid matter of non-compliance was placed before the Board in its meeting held on Friday, 26th June, 2026, wherein the Board deliberated and noted the position of non-compliances with respect to the composition of the Board and its committees i.e. Audit Committee and Nomination & Remuneration Committee and the fine imposed by the Exchanges. In this regard, the Board noted that “Ircon International Limited (IRCON) is a Government Company as per provisions of Section 2(45) of the Companies Act, 2013. As per provisions of the Companies Act, 2013 and Articles of Association of the Company, the President of India vests with the power to appoint Directors (including Independent Directors/Woman Director) on the Board of IRCON. All Directors in IRCON are appointed by the Government of India through its Administrative Ministry, Ministry of Railways (MoR) and IRCON has no role to play in the appointment of any Director including Independent Directors/Woman Director unless nominated by the Government of India. IRCON has been continuously requesting MoR for the appointment of requisite number of Independent Directors (including Woman Independent Director) on the Board of IRCON in order to ensure all compliances pertaining to Composition of the Board and its Committee and accordingly levy of fine is unreasonable and not applicable to IRCON.” B. Approval of appointment of Shri Saleem Ahmad, as CMD, IRCON on additional charge and designating him as Chief Executive Officer (“CEO”) and Key Managerial Personnel (“KMP”) of the Company: In continuation of our letter of even no. dated 23rd June, 2026, it is hereby informed that pursuant to Order no. 2023/E(O)II/40/15 dated 23rd June, 2026 of the Ministry of Railways, the Board of Directors of the Company has approved the appointment of Shri Saleem Ahmad (DIN: 10119432) as Chairman & Managing Director (“CMD”), IRCON on additional charge and also designated him as CEO and KMP of the Company, for a period of 01 year w.e.f. the date of assumption of additional charge of the post of CMD, IRCON on or after 01.07.2026 or till assumption of charge of the post by the regular incumbent or until further orders, whichever is the earliest. The Board Meeting commenced at 12:30 P.M. and ended at 01:30 P.M. ध(cid:586)वाद, ((cid:366)ितभा अ(cid:356)वाल)/ (Pratibha Aggarwal) सद(cid:735)ता (cid:354)./ Membership No.: F8874