MCA concludes demerger hearing of Shipping Corp, may approve soon: Sources

The move could expedite the Centre's stake sale plan for the national carrier

The Ministry of Corporate Affairs (MCA) has concluded its final hearing on the proposed demerger of the core and non-core assets of Shipping Corporation of India (SCI).

Sources indicate that the ministry is likely to give its nod to the demerger plan, which could pave the way for the Centre to disinvest its stake in the national carrier. However, the order is awaiting.

“The matter was with MCA for sanction of the scheme of arrangement for the demerger of SCI. We heard and concluded the hearing last Thursday. The order however would yet to be pronounced," said a government official