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Indian Explosives Diversifies

which the Shipping Corporation had come to be the residual legatee of Jayanti Shipping and added that the Corporation as such was claiming equality, if not precedence, for the rights of this Tramp Company in the Pacific trade. He said that the purpose of statutory control under the Merchant Shipping Act is to promote the entry of Indian ships in overseas trades and not to prevent it. If in fact the Act is to be used at all, it must be to serve the interests of all Indian ships equally. He said the extent of participation of each Company in the Pacific trade must be determined by commercial agreements which may be negotiated by the interested shipping lines.

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