This is to inform you that the Hon''ble National Company Law Tribunal, Mumbai Bench vide its order dated 9 May 2025 (copy of order received on 28 May 2025) has replaced Mr. Girish Juneja ....
Awaiting price reaction for this filing.
Mercator Limited, which has been in liquidation since February 2023 following an NCLT order, has had its Liquidator replaced. The NCLT Mumbai Bench, via an order dated 9 May 2025, appointed Mr. Krishna Chamadia as the new Liquidator, replacing Mr. Girish Juneja. The change was driven by the Stakeholders' Consultation Committee (SCC) voting 78.74% in favour of replacement after the previous Liquidator's Authorisation for Assignment (AFA) was suspended by the IBBI. The new Liquidator's AFA is valid until 31 December 2025. The SCC has also been directed to release outstanding fees and liquidation costs to the outgoing Liquidator.
For shareholders, this is largely a procedural change within the ongoing liquidation process and is unlikely to materially alter recovery prospects. The replacement may, however, help accelerate the liquidation process, potentially leading to a more timely distribution to creditors and shareholders, though outcomes remain uncertain given the company's distressed status.