But why would someone do so , it’s not like the assets would be liquidated , SCILAL is not even a business except for the maritime institute. People were really eager about the privatization also but when I look at the bidders the two top most interested parties are Megha Engineering , Vedanta . Not many would like to hold company held by those promoters. To add to that what SCI is left to offer for the acquirer is an old fleet of ships which can be acquired in the open market also why would someone take the burden of bearing rentals of emplyees in Mumbai. The earnings have been muted for SCI from past 2-3 quarters as against better shipping companies like Great Eastern . Disappointed with having taken this technical bet on SCI , smart people took an exit at ATH
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