- The Debt Recovery Tribunal (DRT) has issued the order for the sale of general cargo ship Great Sea Vembanad.
- The ship has been moored at Munambam harbour as the company Great Sea Shipping had run into debts.
A recent news article published in the TOI states that The Debt Recovery has issued order for the sale of general cargo ship.
Terms and conditions of sale
“The draft sale tender and terms and conditions of sale will be approved by the Tribunal soon and once we get that, we will advertise the sale notice,” said Advocate Commissioner Abu Mathew who is entrusted with the job of selling the ship.
“The order is to advertise the sale by September 20 and the last date for submission is October 25. On 27th, the Tribunal registrar will open the tenders.
Great Sea Vembanad grabs headlines
Great Sea Vembanad had grabbed headlines as it was involved in two berthing incidents during which the ropes broke and one end of the ship started drifting away from the harbour, over the past three months.
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Source: TOI
