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Indian Railway Catering & Tourism Corp. Ltd. ( (IN:IRCTC) ) has issued an announcement.
The Indian Railway Catering & Tourism Corporation Limited (IRCTC) announced that the Supreme Court of India has ruled in its favor, overturning previous judgments by the Delhi High Court and an Arbitral Tribunal regarding a dispute with Brandavan Foods Pvt. Ltd. and other caterers. The Supreme Court found that the claims made by the caterers lacked a contractual and legal basis, thus absolving IRCTC of any financial liability. This judgment ensures that there is no financial or operational impact on IRCTC, reinforcing its authority to modify menus and tariffs unilaterally as per contractual terms and Railway Board circulars.
More about Indian Railway Catering & Tourism Corp. Ltd.
Indian Railway Catering & Tourism Corporation Limited (IRCTC) operates in the travel and tourism industry, providing catering, tourism, and online ticketing services for Indian Railways. It plays a crucial role in enhancing the travel experience for railway passengers across India.
Average Trading Volume: 70,171
Technical Sentiment Signal: Sell
Current Market Cap: 574.9B INR
Find detailed analytics on IRCTC stock on TipRanks’ Stock Analysis page.