The board of directors of Shipping Corporation of India Land and Assets has approved the Scheme of Arrangement for Demerger of ‘Non-Core Assets.’

Shipping Corporation of India announced that the board of directors of Shipping Corporation of India Land and Assets in its meeting held on 16 November 2021, has considered and approved the Scheme of Arrangement for Demerger of ‘Non-Core Assets’ between Shipping Corporation of India (Demerged Company) and Shipping Corporation of India Land and Assets (Resulting Company).

The Company is taking necessary actions to obtain all necessary approvals from the Competent Authority/ies to bring this Scheme into effect.

Source : Business Standard