The Exchange had sought clarification from Shipping Corporation Of India Land And Assets Limited for the quarter ended 31-Mar-2025 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: -1. Consolidated Financial Results not submitted The response of the Company is enclosed.
SCILAL · price
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Awaiting price reaction for this filing.
NSE asked the company to explain why it had not submitted consolidated financial results for the quarter ended March 31, 2025 under SEBI Listing Regulations. The company replied that it was set up as a Government Company under a demerger scheme from Shipping Corporation of India to hold non-core assets. Its only investment, in joint venture Irano Hind Shipping Company (IHSC), is classified as 'Assets Held for Sale' and is not eligible for consolidation. The company confirmed it has no subsidiary, associate, or joint venture as of March 31, 2025 that requires consolidation, so standalone results alone are sufficient.
This is a routine regulatory clarification and not a penalty or adverse action. Shareholders should note the company is slated to be dissolved per Government of India directives, and its main asset (IHSC stake) is held for sale, meaning the stock is essentially a special situation vehicle awaiting wind-down.