On getting distress signal from the Maldivian vessel, Coast Guard rushed rescue teams in two ships and saved all the crew members.
The water inside the vessel was pumped out and it is being towed ashore, Coast Guard officials said.
The vessel, carrying food products to Maldives, had set off from the Vizhinjam port last evening. After it sailed for about three hours, it got flooded.
Though the crew members tried to steer the vessel to the shore, their attempts failed and it started sinking.