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Corporation of India Limited2024-04-012025-03-31Yearly2025-03-31EquitytruetruefalseCompany has not acquired shares or voting rights in any Unlisted Company during Quarter 4 of Financial Year 2024-25.truetruefalseAs per note 1 of Annexure 1 (Part F) of SEBI Circular dated 31 December 2024 any loan (or other form of debt), guarantees/comfort letters (by whatever name called) or security provided in connection with any loan or any other form of debt by the Company to/for its Subsidiary and Joint Venture Company whose accounts are consolidated with the Company are excludedtrueTop 500 listed entitiestrues00232OriginalBinesh Kumar Tyagi is Director wef 07 Jan 21 and is CMD wef 03 Sept 22 CI Acharya is suspended from post of DF wef 07 Mar 24 MoPSW vide letter dt 17Mar25 conveyed approval for entrustment of addl charge of DF to Atul Ubale D BnT for 07Mar2025 to 30June25 or until further orders whichever is earlier and subject to approval of ACC In terms of MoPSW letter dated 17Mar25read with earlier letters issued in this regard and as intimated to exchanges AtulUbaleDBnT holds addl charge of DF wef 7Mar24 W.e.f. 22.11.2024 there are no IDs on SCI Board Shri Manjit Singh Saini superannuated on 31.01.2025 therefore he ceased to be Director of the Company wef 01.02.2025 MoPSW vide letter dt 16.01.2025 conveyed that consequent upon superannuation of Shri. Manjit Singh Saini, D (P&A), Capt. B.K. Tyagi, CMD will also hold addl charge of D(P&A) for a period of 3 (three) months w.e.f. 01.02.2025 or until further orders whichever is earlier.truefalseMrBINESH KUMAR TYAGI08966904Executive DirectorChairpersonMD1970-11-04falseActiveNA2021-01-072022-09-032011MrATUL UBALEAAGPU9095H08630613Executive DirectorNot Applicable1965-06-14falseActiveNA2019-12-052024-11-111010MrVIKRAM DINGLEY09515547Executive DirectorNot Applicable1966-05-13falseActiveNA2022-05-191020MrCHIRAYU INDRADEO ACHARYAAAMPA9424E09611434Executive DirectorNot Applicable1966-03-21falseActiveNA2022-06-131000MrMANJIT SINGH SAINI10111633Executive DirectorNot Applicable1965-01-02falseActiveNA2023-07-052025-02-010000Tenure CompletionMrJASWINDER SINGHAAHPS6238B10104264Executive DirectorNot Applicable1968-09-15falseActiveNA2023-12-291020MrRAJESH KUMAR SINHA05351383Non-Executive - Nominee DirectorNot Applicable1966-03-27falseActiveNA2022-11-103000MrRAJU LAKSHMANANAAZPL2257P06908182Non-Executive - Nominee DirectorNot Applicable1980-07-23falseActiveNA2024-06-131010W.e.f. 22.11.2024 there are no IDs on SCI Board thus composition of Committees are not in compliance with Companies Act 2013 and SEBI LODR Reg during Q4 of FY 24-25 SCI is Navratna PSU hence the Company is coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board and proposal for said appointment is under active consideration of Competent Authority Once appointed, the Independent Directors will be suitably inducted in the Committees. truefalsefalsetruetrueAudit Committee08966904BINESH KUMAR TYAGIExecutive DirectorChairperson2025-01-29Audit Committee08630613ATUL UBALEExecutive DirectorMember2019-12-05Audit Committee09515547VIKRAM DINGLEYExecutive DirectorMember2025-01-29Audit Committee10104264JASWINDER SINGHExecutive DirectorMember2025-01-29Nomination and remuneration committee06908182RAJU LAKSHMANANNon-Executive - Nominee DirectorMember2024-06-13Stakeholders Relationship Committee09515547VIKRAM DINGLEYExecutive DirectorMember2022-05-19Stakeholders Relationship Committee10104264JASWINDER SINGHExecutive DirectorMember2023-12-29Risk Management Committee08966904BINESH KUMAR TYAGIExecutive DirectorChairperson2025-01-29In terms of MoPSW letter dated 16Jan2025, consequent upon superannuation of Shri Manjt Singh Saini Capt B.K. Tyagi, CMD holds addl charge of Director (P&A) wef 01Feb 2025 Capt. B.K. Tyagi CMD was also a member of RMC by virtue of holding additional charge of Director(P&A) from said dateRisk Management Committee09611434CHIRAYU INDRADEO ACHARYAExecutive DirectorMember2022-06-13Shri C I Acharya erstwhile DF by virtue of him holding post of DF was a member of RMC In accordance with Ministry letter dated 07 Mar 2024 disciplinary proceeding against Shri Chirayu lndradeo Acharya is contemplated He has been placed under suspension from the post of Director Finance with immediate effect He ceased to be member of RMC Committee wef 07 Mar 2024Risk Management Committee08630613ATUL UBALEExecutive DirectorMember2019-12-05In terms of MoPSW letter dated 17 Mar 2025 read with earlier letters issued in this regard and as intimated to stock exchanges from time to time, Atul Ubale Director (BnT) holds additional charge of Director (Finance) wef 7 Mar 2024 Atul Ubale Director B&T was also a member of RMC by virtue of holding additional charge of Director FinanceRisk Management Committee09515547VIKRAM DINGLEYExecutive DirectorMember2022-05-19Risk Management Committee10104264JASWINDER SINGHExecutive DirectorMember2023-12-29Risk Management Committee10111633MANJIT SINGH SAINIExecutive DirectorMember2023-07-052025-02-01Shri Manjit Singh Saini completed his tenure as Director on 31.01.2025 therefore he ceased to be member of this Committee wef 01.02.2025Risk Management Committee99999999MEENA KARAYIHOD(IT)Member2023-06-012025-03-07As defined by Board of Directors HOD (IT) is member of RMC Accordingly Meena Karayi who was holding post of HOD (IT)till 06.03.2025, was a member of RMC till 06.03.2025 Thereafter due to inter departmental transfer C. Murali took over as HOD (IT) w.e.f. 07.03.2025 and ipso facto became a member of this Committee from said date They both do not hold DIN Risk Management Committee99999999C.MURALIHOD(IT)Member2025-03-07As defined by Board of Directors HOD (IT) is member of RMC Accordingly Meena Karayi who was holding post of HOD (IT)till 06.03.2025, was a member of RMC till 06.03.2025 Thereafter due to inter departmental transfer C. Murali took over as HOD (IT) w.e.f. 07.03.2025 and ipso facto became a member of this Committee from said date They both do not hold DIN Corporate Social Responsibility Committee08966904BINESH KUMAR TYAGIExecutive DirectorChairperson2022-09-03In terms of MoPSW letter dated 16Jan2025, consequent upon superannuation of Shri Manjt Singh Saini Capt B.K. Tyagi, CMD holds addl charge of Director (P&A) wef 01Feb 2025 Capt. B.K. Tyagi CMD was also a member of CSR by virtue of holding additional charge of Director(P&A) from said dateCorporate Social Responsibility Committee09515547VIKRAM DINGLEYExecutive DirectorMember2022-08-05Corporate Social Responsibility Committee10111633MANJIT SINGH SAINIExecutive DirectorMember2023-07-052025-02-01Shri Manjit Singh Saini completed his tenure as Director on 31.01.2025 therefore he ceased to be member of this Committee wef 01.02.2025Corporate Social Responsibility Committee10104264JASWINDER SINGHExecutive DirectorMember2025-01-29Requirement of Quorum as per Companies Act 2013 was duly met for Board Meetings held in quarter 4 of FY 24-25 however since SCI had no IDs on Board wef 22.11.2024 it is noncompliant with quorum requirement as per SEBI LODR SCI is Navratna PSU hence the Company is coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board and proposal for said appointment is under active consideration of Competent Authority2024-11-08true131252025-01-2981false8702025-02-078false7602025-02-157false760W.e.f. 22.11.2024 there are no IDs on SCI Board and consequently Audit Committee therefore Company was unable to meet Quorum requirements for Audit Committee meeting held on 07Feb25 SCI is Navratna PSU hence the Company is coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board and proposal for said appointment is under active consideration of Competent Authority Once appointed, the Independent Directors will be suitably inducted in the CommitteeAudit Committee2024-11-08true4430Audit Committee2025-02-0790false4400Corporate Social Responsibility Committee2024-11-07true5520Corporate Social Responsibility Committee2025-02-0690true3300Stakeholders Relationship Committee2024-11-07true4420Nomination and remuneration committee2024-11-07true5540Risk Management Committee2025-02-0690true4401falsefalsefalsefalseNotruefalsetrueThis report for quarter ended 31.12.2024 was placed before Board at Board meeting held on 07.02.2025, and Board noted that SCI is a Navratna PSU hence the Company is coordinating with Competent Authority for appointment of requisite number of Independent Director(s) on SCI Board and proposal for said appointment is under active consideration of Competent Authority. Board noted that as on 31.12.2024, there are 8 Directors on SCI Board which comprises of 6 Functional Directors including 1 CMD, 2 Non Official Part time Govt. Nominee Directors. Board further noted thatone out of 6 Functional Directors viz. Shri C I Acharya is suspended w.e.f. 07 Mar 24Swapnita Vikas YadavCompany Secretary and Compliance OfficerYeshttps://www.shipindia.com/page/aboutpageYeshttps://www.shipindia.com/upload/disclousre_reg_46/MOA_and_AOA.pdfYeshttps://www.shipindia.com/page/ourleaders/72Yeshttps://www.shipindia.com/investors/disclosure_under_regulationYeshttps://www.shipindia.com/page/committeesYeshttps://www.shipindia.com/upload/policies/Code_of_business_conduct-BM_SM.pdfYeshttps://www.shipindia.com/upload/policies/Whistle_Blower_Policy_final_approved_on_03_02_2023.pdfYeshttps://www.shipindia.com/upload/disclousre_reg_46/f_Criteria_for_payment_to_non-executive_Directors_Updated.pdfYeshttps://www.shipindia.com/upload/policies/RPT_Policy1.pdfYeshttps://www.shipindia.com/upload/policies/Policy_for_determining_material_subsidiaries.pdfYeshttps://www.shipindia.com/upload/investorsubpage/Familiarisation_Programme_for_ID_24-25_Final.pdfYeshttps://www.shipindia.com/grievanceYeshttps://www.shipindia.com/investors/contact_usYeshttps://www.shipindia.com/investors/quarterlyresultsYeshttps://www.shipindia.com/investors/shareholding_pattern/12NANANANAYeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/page/icsl_page/icsl_financial_statementYeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/upload/policies/policy_for_determining_material_events.pdfYeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/investors/disclosures_under_listing_regulation/12Yeshttps://www.shipindia.com/upload/policies/SCI_Dividend_Distribution_Policy2.pdfYeshttps://www.shipindia.com/investors/agm_new/13NAYeshttps://www.shipindia.com/investors/disclosure_under_regulationYeshttps://www.shipindia.com/investors/disclosure_under_regulationYesNoAs on 31st March 2025 there are 7 Directors on the Board of the Company which comprises of 5 Functional Directors including 1 Chairman and Managing Director 2 Non Official Part time Government Nominee Directors Out of the 5 Functional Directors Director Finance is suspended wef 7 Mar 2024 in accordance with Ministry office order dated 07 Mar 2024YesNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could meet statutory requirements wrt Quorum for all meetings except meetings held in quarter 4 of FY 2024-25YesYesYesYesYesYesYesYesYesYesNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could not meet statutory requirements wrt Composition of Audit Committee from said dateNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could meet statutory requirements wrt Quorum for all meetings except meeting held in quarter 4 of FY 2024-25YesNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could not meet statutory requirements wrt Composition of NRC from said dateYesYesYesNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could not meet statutory requirements wrt Composition of SRC from said dateYesYesNoW.e.f. 22.11.2024 there are no IDs on SCI Board therefore Company could not meet statutory requirements wrt Composition of RMC from said dateYesYesYesYesYesYesNAYesNAYesYesYesNAYesYesYesYesNAYesYesYesNAYesSCI is Navratna PSU hence the Company is coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board and proposal for said appointment is under active consideration of Competent Authority Further once appointed the Independent Directors will be suitably inducted in the Committee and Company will strive to meet the requirements wrt Composition, quorum, etcSwapnita Vikas YadavCompany Secretary and Compliance OfficerYesCurrently, SCI is not having any material subsidiary. The corporate governance requirements with respect to unlisted Subsidiaries have been duly complied.Swapnita Vikas YadavCompany Secretary and Compliance OfficerfalseSwapnita Vikas YadavCompany Secretary and Compliance OfficerMumbai2025-04-2902200National Stock Exchange of India LimitedNSE imposed a fine of Rs 2360 (Rs 2000 plus 18 percent GST) on the Company2025-02-14Delay in complying with Regulation 31 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015Nil. As the fine has been subsequently waived off by NSE.The terms SCI or "Company" wherever used shall mean The Shipping Corporation of India Ltd. In point no. 12 and 14 the date entered is date of filingSCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2017-05-04Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 4182.92 lakhs (including penalty) plus applicable Interest Order dtd 23.11.2016 received in the matter of non payment of service tax on income received from hiring of vessels Harshavardhana & Ramanujam by A&N Administration under Supply of tangible goods (vessel) for the period Oct, 2009 to Sept,2015. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same and hearing is awaited.Appeal filed. Hearing scheduled on 01.04.2025 , next adjourned to 26.06.2025.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2021-09-28Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 1012.84 lakhs (including penalty) plus applicable Interest Order dtd 21.06.2021 received in the matter of non payment of service tax on income received from hiring of vessels Harshavardhana & Ramanujam by A&N Administration under Supply of tangible goods (vessel) for the period Oct, 2015 to June,2017. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same and hearing is awaited.Appeal was filed and hearing is awaited.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2016-11-24Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 3128.96 lakhs (including penalty) plus applicable Interest Order dtd 31.08.2016 received in the matter of non inclusion of the value of bunker / fuel charges and water charges in the assessable value for discharge of service tax for the period Oct,2009 to Sept,2014. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.After hearing on 24.10.2024, order has been reserved.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2021-07-08Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 402.67 lakhs (including penalty) plus applicable Interest Order dtd 24.03.2021 received in the matter of non-inclusion of the value of bunker / fuel charges and water charges in the assessable value for discharge of service tax for the period Oct,2014 to June,2017. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.Appeal was filed and hearing is awaited.Commissioner of CGST & Central Excise, Mumbai Vs SCI2017-02-10Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 4944.54 lakhs plus applicable Interest Order dated 03.10.2016 was received in favour of the Company for the period July, 2012 to Sept,2015 in the matter of service tax to be levied on Demurrage Income. The Department has filed appeal against the said order. Similar matter of different period of Rs 2416.51 lakhs is kept in abeyance by the department till this appeal attains finality.The matter was heard on 13.02.2025, inter alia, directing the Ld. authorized representative to file an application for change of name of petitioner in the cause title in the subject appeal. Next date of hearing is awaited.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2017-03-30Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 38393.73 lakhs (including penalty) plus applicable Interest Order dated 29.11.2016 received in the matter of non payment of Service Tax in respect of services received from abroad and expenditure incurred in Foreign Currency under RCM for the period Oct, 2009 to Sep,2014. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.The matter was heard on 23.01.2025. Hon'ble bench has allowed the application and direction was given to the registry to change the name of the respondent in the cause title in the subject appeal. The Hon'ble Bench has kept the matter for further hearing on 06.02.2025. Due to paucity of time, the matter was not called out. Next date of hearing is awaited.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2021-05-05Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 8194.67 lakhs (including penalty) plus applicable Interest Order dated 12.02.2021 received in the matter of non payment of Service Tax in respect of services received from abroad and expenditure incurred in Foreign Currency under RCM for the period Oct, 2014 to Sep, 2015. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.Appeal was filed and hearing is awaited.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2022-08-12Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 7396.66 lakhs (including penalty) plus applicable Interest Order dated 18.05.2022 received in the matter of non payment of Service Tax in respect of services received from abroad and expenditure incurred in Foreign Currency under RCM for the period Oct, 2015 to June, 2017. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.Appeal was filed and hearing is awaited.SCI Vs Principal Commissioner of CGST & Central Excise, Mumbai2023-07-25Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 17386.80 lakhs (Penalty) Penalty order dated 26.04.2023 received in the matter of reversal of Cenvat credit under Rule 6(3) for the period October 2009 to Sep,2014. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.Appeal was filed and hearing is awaited.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2016-10-26Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 34000.95 lakhs (including penalty) plus applicable Interest Order dated 26.07.2016 received in the matter of non payment of service tax on income earned from Joint Ventures for the services provided for the period April 2009 to March 2015. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.On 13.12.2024, the departmental special counsel sought for an adjournment. The last date of hearing was 24.01.2025. The Bench has kept the matter for further hearing on 08.05.2025.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai2021-03-12Name of the Court/Tribunal/Agency where litigation is filed - CESTAT, Mumbai Amount involved/ claimed, if any - Rs 537.55 lakhs (including penalty) plus applicable Interest Order dated 08.12.2020 received in the matter of non payment of service tax on income earned from Joint Ventures for the services provided for the period April 2015 to June 2017. Being aggrieved and dissatisfied with order issued, the Company has filed appeal against the same.Appeal was filed and hearing is awaited.Income Tax Department Vs SCI2014-11-10Name of the Court/Tribunal/Agency where litigation is filed - Bombay High Court Amount involved/ claimed, if any - Rs. 9820 Lakhs The department filed appeal challenging ITAT's order favoring SCI regarding TDS deduction u/s 195 on payment of Time Charter Hire to Non Residents and/ or applying 44B provisions to time charter payments to foreign ship owners. This matter is pertaining to Financial Year 2003-04 to 2005-06.The case was admitted in earlier year by the Hon'able Court and further hearing awaited.SCI Vs Income Tax Department2018-01-25Name of the Court/Tribunal/Agency where litigation is filed - CIT(A) Amount involved/ claimed, if any & Expected financial implications, if any - Rs 4991 Lakhs The Company filed appeal in the matter of treatment of Sundry Receipts taxed as Business income, adjustment to turnover from core shipping for calculating excess income from incidental shipping resulting in increase in assessable income, disallowance of administrative expenses claimed against incidental shipping & Income from other sources (Interest and Dividend), income from rescindment of contract taxed as other Income, prior Period taxed as Business Income etc. This matter is pertaining to Financial Year 2014-15.Appeal was filed and hearing is awaited.Income Tax Department Vs SCI2023-11-22Name of the Court/Tribunal/Agency where litigation is filed - Bombay High Court Amount involved/ claimed, if any & Expected financial implications, if any - Rs. 9389 Lakhs SCI received intimation on 28th November 2023 from the Income Tax department of filing of an appeal with Hon'able High Court challenging ITAT's order favoring SCI regarding Prior period adjustments, Additions made to sundry receipts, Adjusting turnover from core shipping by reducing sundry receipts and profit on sale of ships, Interest income forms part of core activity, THC receivable, Excess Provision written back, Reimbursment of overhead managed vessels included in core activity. This matter is pertaining to Financial Year 2007-08.Hearing is awaited.SCI Vs Deputy Commissioner of State Tax, (MUMBAI-LTU-520), LTU-2, Mumbai [Department Of Goods and Service Tax, Government of Maharashtra ]2024-04-30Name of the Court/Tribunal/Agency where litigation is filed - Joint Commissioner of State Tax (Appeal) The Company has received order dated 30th April 2024 confirming demand of Rs 76,19,89,910/ - (including tax component of Rs 34,85,77,270 /- plus interest & penalty) under Section 73 of the GST Act. The said demand is on account of Mismatch of Input Tax Credit (ITC) with GSTR-2A.Appeal was filed and hearing is in process.SCI Vs Deputy Commissioner of State Tax, (Bandra-West_502:Santacruz :Mumbai_North_West), [Department Of Goods and Service Tax, Government of Maharashtra ]2024-08-28Name of the Court/Tribunal/Agency where litigation is filed - Joint Commissioner of State Tax (Appeal) The Company has received order dated 28th August 2024 under Section 73 of the MGST Act, 2017, & CGST Act, 2017. As per given order, the total demand of Rs 1,60,37,35,973.00/- (including tax component of Rs 77,66,21,740 /- plus interest & penalty) has been raised which is mainly on account of Mismatch of Input Tax Credit (ITC) with GSTR-2A and Difference in Turnover reported in GST returns.Appeal was filed and hearing is awaited.