The government is studying the impact of Supreme Court verdict in HPCL-BPCL case on the divestment process of Shipping Corporation of India in which some companies were merged through an Act of Parliament or by way of ordinance.
The divestment ministry has fixed October 20 as the last date for receiving final bids for SCI, Union shipping secretary D T Joseph said on Tuesday on the sidelines of a seminar on dredging.
| |||||||||||
The government is looking into the impact of these mergers in the light of the recent Supreme Court judgement on the divestment of SCI, he said, adding that this only formed a minor part of the process.
SCI was incorporated in 1961 with the amalgamation of the Eastern Shipping Corporation and Western Shipping Corporation. The total fleet size of SCI in 1961 was 19 vessels.
Jayanti Shipping Company was amalgamated in 1973 with SCI leading to an addition of 16 ships. In 1986, Mogul Lines was amalgamated with SCI adding 12 more ships.
