To reverse its two straight full-year losses and retain its coveted navratna tag, government-owned Shipping Corporation of India (SCI) has put up one of its four oil supertankers for sale.
SCI, IndiaÃâs biggest ocean carrier, is under threat of being stripped of its navratna statusÃâgranted in 2009Ãâif it makes losses in 2014.
A company will lose its navratna status if it posts losses for three consecutive years. If it make loss in even in 2014, it will have to disown the Navratna status. SCI reported losses in fiscal years 2012 and 2013ÃâRs.428.21 crore and Rs.114.31 crore, respectively.
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