Shipping Corporation of India Limited (SCI) has announced a significant change in its top management. The Appointments Committee of the Cabinet (ACC) has approved the premature termination of C.L. Acharya from his position as Director (Finance) at the company.

Key Details of the Termination

Background and Timeline

The termination follows a series of events:

1. May 5, 2025: Initial dismissal of C.L. Acharya from service at Shipping Corporation of India Limited.
2. July 21, 2025: MoPSW conveyed the ACC's approval for the premature termination.
3. July 21, 2025, 16:30 hours: SCI officially notified the stock exchanges about the ACC's decision.

Official Communication

The company disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Smt. Swapnita Vikas Yadav, Company Secretary and Compliance Officer of SCI, signed the official communication to the stock exchanges.

Market Implications

This development marks a significant change in SCI's top management, particularly in its financial leadership. The premature termination of a Director (Finance) could potentially impact the company's financial strategies and operations going forward.

Investors and market watchers will likely be keen to observe any subsequent appointments to this crucial position and any potential shifts in the company's financial management approach in the wake of this change.

Shipping Corporation of India Limited will need to address this transition in its financial leadership promptly to ensure continuity in its financial operations and strategies.

Shipping Corporation of India Limited (SCI) has announced a significant development in its ongoing restructuring efforts. SCI Land And Assets, a subsidiary of SCI, has successfully obtained approval from the Maharashtra Government for stamp duty exemption on its demerger plan. This move marks a crucial step forward in the company's strategic reorganization.

Key Highlights

• SCI Land And Assets received approval for stamp duty exemption from the Maharashtra Government.
• The exemption applies to the demerger of non-core assets from the Shipping Corporation of India Limited into Shipping Corporation of India Land and Assets Limited.
• The approval was granted under Section 32(1)(a)(b) of the Maharashtra Stamp Act.
• The exemption is based on the Government of Maharashtra Notification No. Mudrank-2023/698/C.R. 436/M-1 (Dhoran) dated 12.10.2023.

Details of the Exemption

According to the company's disclosure to the stock exchanges, SCI received a certificate from the Office of the Collector of Stamps, Enforcement – 1 in Case No. ADJ/249/2024 dated 16.09.2024. This certificate confirms the exemption from stamp duty payments for the demerger scheme.

Implications for SCI

The stamp duty exemption is expected to provide financial relief to SCI as it proceeds with its restructuring plans. By separating its non-core assets into a distinct entity, SCI aims to streamline its operations and potentially unlock value for shareholders.

Regulatory Compliance

SCI has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company stated that the event occurred on 16.07.2025 at 17:25 hours.

Looking Ahead

While this development is positive for SCI's restructuring efforts, investors and market watchers will likely keep a close eye on the progress of the demerger and its potential impact on the company's future performance.

As the demerger process continues to unfold, further updates from the company are expected to provide more clarity on the strategic direction and potential benefits of this corporate restructuring initiative.