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Shipping Corp.of India Land & Assets is in the process of strategic disinvestment of its equity stake in Shipping Corporation of India Limited (SCI) together with transfer of management control. To facilitate disinvestment process of the Company in an effective, efficient and rapid manner and also to unlock the value of the business and the assets, it is found appropriate that the Non-core Assets of the Company, the value of which is not getting reflected in the value of business of SCI, should be separated from SCI and should be kept in an independent entity and a separate strategy should be formed for unlocking the value of such Non-core Assets.
SCILAL was fined ₹0.96 Cr each by NSE and BSE for not complying with board composition requirements, including the appointment of a woman director. The Board acknowledged the issue, noting director appointments are pending with the administrative Ministry. SCILAL has requested a fine waiver.