Shipping Corporation Of India Limited — Others, 29-04-2025: Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

The Shipping Corporation of India Limited has reported a positive resolution in a litigation concerning service tax assessment related to bunker/fuel and water charges from October 2009 to September 2014. The Hon'ble CESTAT in Mumbai has set aside an earlier order, allowing the company to expect a financial gain of around ₹66.13 crore, which includes principal demand, penalty, and interest that were previously classified as a contingent liability. This outcome strengthens the company's financial standing and clarifies outstanding liabilities, benefiting shareholders.