Mercator Ltd-has informed BSE that the meeting of the Board of Directors of the Company is scheduled on 02/06/2025 ,inter alia, to consider and approve Pursuant to provisions of Regulation ....
Awaiting price reaction for this filing.
Mercator Limited has informed BSE and NSE that a meeting of the Directors and Liquidator is scheduled for June 2, 2025 to consider and approve the Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2024. The company is currently under liquidation following an NCLT Mumbai Bench order dated February 21, 2023, under the Insolvency and Bankruptcy Code (IBC), and the Board of Directors' powers are suspended and vested in the Liquidator, Mr. Girish Siriram Juneja. Trading in the company's shares is suspended on both BSE and NSE since the liquidation order. The Liquidator has noted he will rely on representations from the company's Directors and Key Managerial Personnel without independent verification of the financial results. The results being reviewed are notably delayed — for a quarter that ended nearly a year before the board meeting.
For shareholders, this filing does not change anything operationally but confirms the company remains in liquidation with no near-term path to revival evident. With trading already suspended, the stock is illiquid, and any residual equity value depends entirely on liquidation proceeds, which are typically minimal for equity holders in IBC resolutions.