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Corporation of India Limited2025-04-012026-03-31Quarterly2025-06-30EquitytruetruefalseCompany has not acquired shares or voting rights in any Unlisted Company during Quarter 1 of Financial Year 2025-2026falseNo fine or penalty has been imposed on SCI during the quarter ended 30.06.2025truetrueTop 1000 listed entitiestrues00232OriginalBinesh Kumar Tyagi is Director wef 07Jan21 and is CMD wef 03Sept22 CMD also held addn charge of Dpna wef 01Feb25 Atul Ubale superannauted on 30june25 Atul Ubale held post of D BCnT till 30June25 and additional charge of DF from 07Mar24 to 30June25 ACC based on the recommendations dted 12Mar25 of Search Committee approved the proposal of MoPSW for app reapp of 3 persons as Non Official Independent Directors on the Board of SCI for a period of 01 yr wef 11Apr25 or until further orders whichever is earlier Shri C I Acharya erstwhile Whole Time Director (Finance) who was suspended wef 7Mar24 has now been dismissed from service by Competent Authority wef 5May25 The first term of three year of Gulabbhai Rohit as independent director completed wef 22Nov24 subsequent to which competent authority re-appointed him on the Board wef 11Apr25truefalseMrBinesh Kumar Tyagi******08966904Executive DirectorChairpersonMD1970-11-04falseActiveNA2021-01-072022-09-032020MrAtul Ubale******08630613Executive DirectorNot Applicable1965-06-14falseActiveNA2019-12-052024-11-111010MrVikram Dingley******09515547Executive DirectorNot Applicable1966-05-13falseActiveNA2022-05-191010MrChirayu Indradeo Acharya******09611434Executive DirectorNot Applicable1966-03-21falseActiveNA2022-06-132025-05-050000OthersMrJaswinder Singh******10104264Executive DirectorNot Applicable1968-09-15falseActiveNA2023-12-291010MrRajesh Kumar Sinha******05351383Non-Executive - Nominee DirectorNot Applicable1966-03-27falseActiveNA2022-11-103020MrRaju Lakshmanan******06908182Non-Executive - Nominee DirectorNot Applicable1980-07-23falseActiveNA2024-06-131010MrPriya Sheel Hada******09461439Non-Executive - Independent DirectorNot Applicable1965-06-07falseActiveNA2025-04-112025-04-112.21121MrGulabbhai Lakhubhai Rohit******08916645Non-Executive - Independent DirectorNot Applicable1969-05-04falseActiveNA2021-11-222025-04-1138.21111MrSatish Kumar Chawla******09400987Non-Executive - Independent DirectorNot Applicable1960-01-04falseActiveNA2025-04-112025-04-112.21110Due to absence of Independent Directors on the Board of the Company wef 22Nov24, the composition of the statutory committees was non-compliant with the applicable laws for the period 1Apr25 to 10Apr25 Consequent to appointment of 3 IDs on Board of the Company, all Committees were reconstituted in compliance with applicable provisions of extant laws w.e.f. 11Apr25 Hence as on 30June2025 the constitution of all committees is in compliance with applicable provisions of extant laws truetruetruetruetrueAudit Committee08966904Binesh Kumar TyagiExecutive DirectorChairperson2025-01-292025-04-11Audit Committee09515547Vikram DingleyExecutive DirectorMember2025-01-292025-04-11Audit Committee08630613Atul UbaleExecutive DirectorMember2019-12-05Audit Committee10104264Jaswinder SinghExecutive DirectorMember2025-01-292025-04-11Audit Committee08916645Gulabbhai Lakhubhai RohitNon-Executive - Independent DirectorChairperson2025-04-11Audit Committee09400987Satish Kumar ChawlaNon-Executive - Independent DirectorMember2025-04-11Audit Committee09461439Priya Sheel HadaNon-Executive - Independent DirectorMember2025-04-11Nomination and remuneration committee09400987Satish Kumar ChawlaNon-Executive - Independent DirectorChairperson2025-04-11Nomination and remuneration committee06908182Raju LakshmananNon-Executive - Nominee DirectorMember2024-06-13Nomination and remuneration committee08916645Gulabbhai Lakhubhai RohitNon-Executive - Independent DirectorMember2025-04-11Nomination and remuneration committee09461439Priya Sheel HadaNon-Executive - Independent DirectorMember2025-04-11Stakeholders Relationship Committee09461439Priya Sheel HadaNon-Executive - Independent DirectorChairperson2025-04-11Stakeholders Relationship Committee09515547Vikram DingleyExecutive DirectorMember2022-05-19Stakeholders Relationship Committee10104264Jaswinder SinghExecutive DirectorMember2023-12-29Risk Management Committee08966904Binesh Kumar TyagiExecutive DirectorChairperson2025-01-292025-04-11In terms of approval of Competent Authority, 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 date till 10Apr25Risk Management Committee08630613Atul UbaleExecutive DirectorMember2019-12-05Atul Ubale superannauted on 30june25 Atul Ubale held post of D BCnT till 30June25 and additional charge of DF from 07Mar24 to 30June25 Atul Ubale Director B&T was also a member of RMC by virtue of holding additional charge of Director Finance Risk Management Committee10104264Jaswinder SinghExecutive DirectorMember2023-12-29Risk Management Committee09515547Vikram DingleyExecutive DirectorMember2022-05-19Risk Management Committee09611434Chirayu Indradeo AcharyaExecutive DirectorMember2022-06-132025-05-05Shri C I Acharya erstwhile Whole Time Director (Finance) who was suspended wef 7mar24 has now been dismissed from service by Competent Authority wef 5may25 Risk Management Committee09461439Priya Sheel HadaNon-Executive - Independent DirectorChairperson2025-04-11Risk Management Committee99999999Som RajGeneral Manager incharge PnAMember2025-04-11He is General Manager incharge Personnel and Administration. He holds DIN 11046394.On entering his DIN an error is refelected in the field named Category 1 of directors that - There is a mis-match of Directors designation in Composition of Board of Directors sheet and Composition of Committees sheet.Therefore his DIN is not enetered in the field named DIN NumberRisk Management Committee99999999C MuraliHOD ITMember2025-03-07He is HOD IT of the Company and does not hold DINRisk Management Committee99999999Charusheela Lankadhar GolapalliChief Financial OfficerMember2025-04-11She is CFO of the Company and does not hold DINCorporate Social Responsibility Committee08966904Binesh Kumar TyagiExecutive DirectorChairperson2022-09-03In terms of MoPSW letter dated 08May25 read with earlier letter read in this regard 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 date Corporate Social Responsibility Committee09515547Vikram DingleyExecutive DirectorMember2022-08-05Corporate Social Responsibility Committee10104264Jaswinder SinghExecutive DirectorMember2025-01-29Corporate Social Responsibility Committee08916645Gulabbhai Lakhubhai RohitNon-Executive - Independent DirectorMember2025-04-11Requirement of Quorum as per Companies Act 2013 was duly met for Board Meetings held in Q4 of FY 24-25 however since SCI had no IDs on Board wef 22.11.2024 it was noncompliant with quorum requirement as per SEBI LODR SCI being Navratna PSU Company was coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board Thus ACC based on the recommendations dted 12.03.2025 of Search Committee approved the proposal of MoPSW for app/reapp of 3 persons as Non Official Independent Directors on the Board of SCI for a period of 01 yr wef 11.04.2025 or until further orders whichever is earlier consequent to which requirement of quorum was duly met for meeting in Q1 of FY 25-26 Shri C I Acharya erstwhile Whole Time Director (Finance) who was suspended wef 7mar24 has now been dismissed from service by Competent Authority wef 5may25 2025-01-29false8702025-02-078false7602025-02-157false7602025-05-1689true993W.e.f. 22.11.2024 there were 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 being Navratna PSU Company was coordinating with Competent Authority for appointment of requisite number of IDs on SCI Board Thus ACC based on the recommendations dted 12.03.2025 of Search Committee approved the proposal of MoPSW for app/reapp of 3 persons as Non Official Independent Directors on the Board of SCI for a period of 01 yr wef 11.04.2025 or until further orders whichever is earlier consequent to which requirement of quorum was duly met for Audit Committee meeting of Q1 of FY 25-26 Audit Committee2025-02-07false4400Audit Committee2025-05-1697true4430Corporate Social Responsibility Committee2025-02-06true3300Corporate Social Responsibility Committee2025-05-1597true4410Risk Management Committee2025-02-06true4401falsetruetruetrueYestruetruetrueThe report for previous quarter ended 31.03.2025 was placed before Board at Board meeting held on 16.05.2025. Swapnita Vikas YadavCompany Secretary and Compliance OfficerfalseSwapnita Vikas YadavCompany Secretary and Compliance OfficerMumbai2025-07-0902200The terms SCI or Company wherever used shall mean The Shipping Corporation of India Ltd. In point 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.On 26.06.2025, the matter was heard by the Hon’ble Bench and was thereafter adjourned for further hearing on 29.08.2025. SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai 2021-09-28Name 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 awaitedSCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai 2016-11-24Name 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. The Company has received a favorable order in April 2025 from the Hon’ble CESTAT, Mumbai, in the referenced matter, wherein the earlier impugned order has been set aside. The Company has filed CAVEAT in Supreme Court of India, in the above mentioned case on 30.06.2025, vide filing number No.EK-SCIN01-08035-2025.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai 2021-07-08Name 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 awaitedCommissioner 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, Mumbai 2017-03-30Name 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 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, Mumbai 2021-05-05Name 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, Mumbai 2022-08-12Name 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 awaitedSCI Vs Principal Commissioner of CGST & Central Excise, Mumbai 2023-07-25Name 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, Mumbai 2016-10-26Name of the Court/Tribunal/Agency where litigation is filed - CESAT, 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 08.05.2025, the matter was heard by the Hon’ble Bench and was thereafter adjourned for further hearing on 24.07.2025.SCI Vs Commissioner / Principal Commissioner of CGST & Central Excise, Mumbai 2021-03-12Name 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 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 awaitedIncome 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'ble Court and further hearing is 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 awaitedIncome 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 mangaed vessels included in core activity. This matter is pertaining to Financial Year 2007-08. Hearing is awaitedSCI 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. The Company has received an order dated 12th June 2025 from the Joint Commissioner of State Tax (Appeal-VI), confirming a revised demand of Rs 23,07,46,351 (comprising a tax component of Rs10,55,56,428 along with applicable interest and penalty), as against the original demand of Rs76,19,89,910 (which included a tax component of Rs 34,85,77,270 along with interest and penalty). The Company is currently reviewing the order in detail and evaluating the next steps in the matter. The Company is exploring all possible options to contest the demand, including filing an appeal against the same and believes that there is strong merit in the case.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.