Shipping Corporation of India Ltd has announced that its wholly-owned subsidiary SCI Bharat IFSC Ltd has commenced its business operation as a Finance Company at GIFT, IFSC, Gujarat.
According to the exchange filing made, SCI’s wholly-owned subsidiary company named SCI Bharat IFSC Limited is in receipt of a Certificate of Registration dated 23.09.2024 for commencing business as a Finance Company at Gujarat International Finance Tec-city (GIFT), IFSC, Gujarat from International Financial Services Centers Authority (IFSCA).
Earlier, the Shipping Corporation of India Limited announced that its SCI’s wholly-owned subsidiary named SCI Bharat IFSC Limited has received a Letter of Approval from the Office of Development Commissioner, Kandla Special Economic Zone, Department of Commerce, Government Of India to extend all the facilities and entitlements admissible to a unit in a Special Economic Zone and for the establishment of a unit at GIFT SEZ LTD[SEZ] in the State of Gujarat for undertaking authorized operations, namely, manufacture and rendering services including trading as stated in the said Approval Letter.