Gati gets nod to transfer its shipping business

Gati has received its board’s approval to transfer its shipping business to its wholly owned subsidiary Gati Ship as a going concern by way of slump sale. The board gave its approval for the same at its meeting held on September 28, 2011.

Further, the board has considered and advised to form a joint venture with a reputed global shipping company.

Gati is a leading player in express distribution and logistics and operates through two divisions - Express Distribution & Supply Chain (EDSC) and Coast- to-Coast (C2C) division.