Meeting Details
The 5th Annual General Meeting of SCILAL was held on Monday, September 21, 2026 through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The meeting commenced at 1200 hours IST and concluded at 1302 hours IST. The deemed venue was the Registered Office of the Company at "Shipping House", 245, Madame Cama Road, Nariman Point, Mumbai City, Mumbai, Maharashtra, India, 400021.
Attendance and Quorum
A total of 63 members attended the AGM through VC/OAVM. The requisite quorum was present to commence the meeting (30 members in terms of section 103 of the Companies Act, 2013).
Voting Process
Remote e-voting facility was provided to members from Thursday, September 17, 2026 at 09.00 A.M. IST to Sunday, September 20, 2026 at 05.00 P.M. IST. E-voting facility was also made available during the AGM to members who did not cast votes through remote e-voting. M/s Mehta and Mehta, Company Secretaries were appointed as Scrutinizer, with Ms. Alifya Sapatwala (M. No. A24091), Partner, representing them at the AGM.
Chairman's Address
Capt. B. K. Tyagi, Chairman & Managing Director of the Company, chaired the meeting. In his address, he presented an overview of the Company's performance and key initiatives during FY 2025-26, highlighting:
- Continued focus on strengthening the Maritime Training Institute (MTI), Powai, in line with Government of India's vision under Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047
- Initiatives to enhance maritime education, skill development, capacity and industry collaboration, including MoUs with leading industry partners and Vadhvan Port Project Limited (VPPL)
- MoU with NBCC (India) Limited for upgradation, renovation and modernisation of MTI infrastructure
- Efforts towards effective management and optimum utilisation of assets transferred pursuant to the Demerger Scheme, including leasing of a part of Shipping House, Kolkata, to the Chief Electoral Officer, West Bengal
- Continued efforts towards unlocking value from assets while pursuing necessary legal and administrative processes for completion of the de-jure transfer of properties
- Operations of the company are being managed by Shipping Corporation of India Ltd. (SCI) under a service level agreement
- Briefed shareholders about the Company's financial performance of FY 2025-26 and quarter one of FY 2026-27, Dividend, CSR initiatives, Manpower recruitment, Corporate Governance, and Other Developments
Business Transacted
The following items of business were transacted at the meeting:
Ordinary Business:
1. To receive, consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2026 together with the Reports of the Board of Directors and the Auditors thereon along with the Comments of the Comptroller and Auditor General of India (C&AG)
2. To approve and declare Dividend of Rs. 0.55 per Equity Share of Rs.10 each for the Financial Year 2025-26
3. To appoint a Director in place of Shri Venkatesapathy S. (DIN: 07407879), who retires by rotation
4. To authorize the Board of Directors to fix the remuneration of the Statutory Auditors to be appointed by C&AG for FY 2026-27
Special Business:
5. Appointment of Shri Nitin Khamesra (DIN: 09595247) as a Director (Finance) of the Company
Additional Information
- Company received NIL comments from Statutory Auditors and CAG on the Financial Statements of FY 2025-26
- Observations/qualifications in the Secretarial Auditors' Report for FY 2025-2026 and Management's Reply were read out
- Combined voting results will be announced within two working days from the conclusion of the meeting and made available on stock exchange websites and company website