Non-core asset demerger likely to delay Shipping Corp and BEML sale

In the scheme for demerger of non-core assets announced by SCI, certain changes, including extra surplus cash, had to be approved, the official said

Ahead of the privatisation of Shipping Corporation of India (SCI) and BEML, the Centre is implementing changes in the scheme of demerger of non-core assets of the two public sector undertakings (PSUs). This could delay the strategic divestment timelines of the two PSUs.

Some changes, including transfer of some extra cash to the demerged entity, are under process for SCI. The board is said to have approved it for enabling the privatisation process.

Post implementation of these changes, and subsequent approvals from the ministry of corporate affairs, the Centre will invite financial bids from suitors. 

“The process is time-consuming, and we will be