Investment15 Mar 2024, 04:36 pm
Great Eastern Shipping Approves INR 50 Crore Subsidiary for Ship Leasing in IFSC
AI Summary
The Board of Directors of Great Eastern Shipping Co. Ltd. has approved the establishment of a wholly owned subsidiary named 'The Great Eastern Shipping (IFSC) Limited' in the International Financial Services Centre (IFSC) at Gandhinagar, Gujarat, India. The authorized equity share capital is INR 50 crore, with an initial paid-up equity share capital of INR 9 crore to be subscribed by the company. The main objective of the subsidiary is ship leasing, including ownership, operation, and chartering of vessels, among other permissible activities. The promoters are not interested in the proposed subsidiary.
Key Highlights
- Great Eastern Shipping to establish a new subsidiary
- Wholly owned subsidiary in IFSC for ship leasing
- Authorized equity share capital: INR 50 crore
- Initial paid-up equity share capital: INR 9 crore
- Subsidiary's main objective: Ship leasing