Update
Mercantile Ports & Logistics Limited announced that a hearing scheduled for June 8, 2026, concerning its challenge to the Committee of Creditors' approval of a resolution plan for Karanja Terminal & Logistics Private Limited has been rescheduled. The company maintains that the resolution plan approval process was flawed and is pursuing legal remedies to protect shareholder interests and recover value. A further announcement will be made once the new hearing date is confirmed.
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On 13 May 2026, Mercantile Ports & Logistics Limited (AIM: MPL) announced that it had formally challenged the decision of the Committee of Creditors approving the resolution plan relating to Karanja Terminal & Logistics Private Limited and that the National Company Law Tribunal, Mumbai Bench had listed the matter for further hearing on 8 June 2026. The Company was informed that this hearing was to be rescheduled.
The Company is seeking a rescheduled date to be set as soon as practicable and will make a further announcement as soon as the rescheduled date is known.
The Company continues to maintain that the process surrounding the approval of the resolution plan has been fundamentally flawed and remains committed to pursuing all available legal remedies to protect shareholder interests and recover value for stakeholders.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.