The Ministry of Railways has ‘in-principle' decided for closure of Indian Railway Stations Development Corporation (IRSDC), a joint venture company of IRCON (IRCON holds 26% equity share in IRSDC). The Ministry of Railways has also issued directions for initiating the necessary procedural formalities for handing over of the assets, projects etc. to Zonal Railways/ Rail Land Development Authority (RLDA) and initiating closure of IRSDC.