Shipping Corporation Of India Land And Assets Limited has informed the Exchange about Update on Scheme of Arrangement for Demerger of Non-Core Assets ( Demerged Undertaking ) of Shipping Corporation of India Limited ( SCI / Demerged Company ) into Shipping Corporation of India Land and Assets Limited ( Resulting Company ) ( Demerger Scheme )
SCILAL · price
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Shipping Corporation of India Land and Assets Limited (SCILAL) has received a certificate from the Office of the Collector of Stamps (Enforcement – 1) confirming that the ongoing Demerger Scheme is exempted from stamp duty under the Maharashtra Stamp Act. The exemption applies under Section 32(1)(a)(b), via a Government of Maharashtra notification dated 12 October 2023, subject to Section 53(A) of the Act. This is a procedural update regarding the demerger of non-core assets from Shipping Corporation of India Limited (SCI) into SCILAL. The event was disclosed on 16 July 2025 at 5:25 PM under SEBI Listing Regulations.
This stamp duty exemption removes a significant cost hurdle and smoothens the progress of the demerger scheme, which is positive for shareholders of both SCI and SCILAL. It signals the demerger is moving forward, though key steps like share allotment and NCLT approvals still remain pending.