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Shipping corporation of India Land and Assets Limited

The Government of India 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.

Shipping Corporation of India Land and Assets Limited (SCILAL), a Schedule ‘C’ Public Sector Enterprise of Government of India, was incorporated on November 10, 2021 under Companies Act, 2013, having its registered office at ‘Shipping House’, 245, Madame Cama Road, Mumbai-400021, India. It has been incorporated with the object of holding and disposing the Non-core Assets of SCI distinct from the disinvestment transaction.