Essar Shipping Under SFIO Scrutiny Amid Financial Challenges
Essar Shipping received a notice from SFIO initiating an investigation into its affairs. Despite this, the company reported improved Q2 results with total income rising to ₹52.03 crore and a profit of ₹41.67 crore. The company sold its stake in a foreign subsidiary, recognizing a profit of ₹47.70 crore. However, Essar Shipping still faces challenges with eroded net worth and current liabilities exceeding current assets. Management is pursuing measures to improve the company's financial position, including plans to charter its Tug vessel.
22Jul 25
Essar Shipping's Non-Executive Director Srinivasan Vaidyanathan Resigns Due to Personal Commitments
Essar Shipping Limited announced the resignation of Non-Executive Director Srinivasan Vaidyanathan, effective July 21, 2025. Vaidyanathan, who served as an Additional Director, cited personal reasons and other commitments for his departure. The company accepted his resignation and reported it to stock exchanges in compliance with SEBI regulations. No other material reasons were provided for the resignation.