New Delhi: Indian Railway Finance Corporation (IRFC) has announced a change in its Board of Directors, appointing Laya Madduri as Part-time Government Nominee Director with immediate effect. The appointment has been made by the Ministry of Railways, Government of India, in compliance with SEBI Listing Regulations.
Appointment Notified by Ministry of Railways
As per the order dated May 06, 2026, Ms. Laya Madduri, Joint Secretary in the Infrastructure Finance Secretariat under the Department of Economic Affairs, has been appointed to the IRFC Board.
She replaces Alok Tiwari and will continue in the role until she holds her current government position or until further orders, whichever is earlier.
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SEBI Compliance and Stock Exchange Disclosure
IRFC informed both BSE Limited and National Stock Exchange of India Limited regarding the board-level change under Regulations 30 and 51(2) of the SEBI (LODR) Regulations, 2015.
The company stated that all necessary formalities are currently underway and additional regulatory disclosures will be made in due course.
Strengthening Governance in Public Sector Institutions
This appointment reflects the Government of India’s continued focus on improving governance and leadership in key public sector financial institutions. The move is expected to support better policy alignment and financial oversight within IRFC.
Leadership Transition on the Board
With this change:
- Laya Madduri joins as Government Nominee Director
- Alok Tiwari steps down from the Board
- Appointment effective immediately from May 06, 2026
IRFC is currently completing the required administrative and compliance procedures to formalize the transition.
About IRFC
Indian Railway Finance Corporation is a Government of India public sector undertaking under the Ministry of Railways. It is responsible for raising financial resources from domestic and global markets to fund the expansion, modernization, and infrastructure development of Indian Railways.
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