Member Info for SmTch73

Aimless2026

When a creditors end results and only result is to recoup 100% of the debt then this would be deemed a win in 100% of cases for creditors . But in this case when u have bent corrupt coc trying to ignore its way through the process so it can literally strip assets from a foriegn company because it thinks it has the right to do so then im guessing its not so simple. How this coc thinks that they can actually get away with what's going on is absolutely absurd. It will be interesting to actually see how this pans out as it appears to be getting alot of outside traction and interest. This isn't just being watched here in the UK but probably by every single country in the world where businesses may be thinking of setting up shop in India. Who wants to invest money in a country where the loan sharks are in charge 🤔

Let's hope so , and hopefully the coc do the right thing rather than using there powers to try and strip uk companies of there assets via the back door.

Tiger2009

It always makes me wonder when it goes NT that the share providers are worried there about to get smacked due to a leak lol

Call it what u like but I've got no stop losses on this bad boy as they have already shown the want to drop the sp to take out stop losses to then bring it back to where it started. Serious upside and down side but my guess is the longer it takes the more likely there trying to muster a deal so both walk away happy.

Have a fab weekend all and see you all again Monday

Hope your all having a fab day and no one got taken out earlier on

So it turns out that recently the uk and india signed a new trade agreement . This particular case is possibly the first since the agreement and looks like its gaining traction or is under the watchful eye of UK trade departments.

Apologies for the extra reading but I believe somewhere there could be additional pressure.

While there hasn't been a public "intervention" announcement from the UK government as of April 2026, Mercantile Ports & Logistics (MPL) has formally signaled that it is calling for diplomatic support to protect international capital invested in India.

Here are the specific areas of focus regarding government-level involvement in this case:

1. Diplomatic and Governmental Support

MPL has explicitly stated that it is pursuing support through UK, US, and Indian government and diplomatic channels.

The Goal: To ensure that the Committee of Creditors (CoC) acts with "transparency and integrity," especially since MPL has offered to repay 100% of its debt.

The Concern: The company has raised flags to these government bodies about the potential "transfer of the asset away" from its international shareholders via third-party resolution plans, despite its full repayment offer.

2. Focus on "International Investor Capital"

The company is positioning this as a test case for how India treats foreign investment. They frequently highlight the £160 million of predominantly international equity capital deployed into the Karanja facility.

This framing is designed to grab the attention of the UK's Department for Business and Trade, which monitors the safety of UK-listed companies' investments in India.

3. "Leading International Oil and Gas Company" Backing

While not a government entity, the presence of a "leading international oil and gas company" as a primary financial backer for the debt redemption often brings its own level of significant commercial and geopolitical influence.

Current Status for RNS Watchers

Last Major Move: The NCLT Mumbai on 6 April 2026 directed the CoC to convene a meeting (which happened on 10 April) and specifically told them to use "commercial wisdom" and not treat MPL's proposal as an "empty formality".

Next Expectation: Any future RNS will likely mention if diplomatic pressure or governmental "soft power" has helped move the CoC toward accepting the settlement.

I asked the question could the courts in India punish the coc in the mercantile ports case if they dont hand back there port after the offer of payment in full and It gave that as a result. To be honest I've run a load of scenarios with this as have u look like u have to and others . And on every occasion as long as the entry is not biased and the full question is asked it is very much in massive favour of the port holders on the legal outcome that they will win this , and more specific the courts have already given guidance to the point of this very much needs to happen without saying it. And what probably doesnt bode well is the fact that Mercantile ports is actually a UK listed company , incorporated in Guernsey and the last thing India wants in this scenario is what looks like an Indian based company trying to for the harsher word steal 100 million pound UK companies assets.

Worth a read

Indian courts (NCLT and NCLAT) have the authority to "punish" or penalise the Committee of Creditors (CoC)—specifically individual members or the Resolution Professional—if they are found to be acting in bad faith, arbitrarily, or in violation of the law.In the case of Mercantile Ports & Logistics (MPL) and the Karanja Terminal, the courts have already begun applying pressure to prevent the CoC from ignoring a 100% debt repayment offer.1. Stripping the "Commercial Wisdom" ShieldWhile the CoC usually has "commercial wisdom" (the final say on business decisions), the Supreme Court and NCLAT have ruled that this is not an absolute shield.Arbitrary Rejection: If the CoC rejects a 100% settlement (under Section 12A) simply to seize a valuable asset (like a port), courts can declare this an "abuse of process" and set the decision aside.Case Specifics: The Supreme Court has already directed the CoC, led by Prudent ARC, to consider MPL’s proposal for full debt redemption. Failure to do so "meaningfully" could be viewed as contempt of court or a procedural illegality.2. Financial Penalties and FinesUnder the Insolvency and Bankruptcy Code (IBC), the NCLT can impose heavy financial penalties for misconduct:Section 235A Penalties: The tribunal can impose fines up to ₹2 crore (£190k+) for wilful misconduct or deliberate attempts to subvert the resolution process.Personal Liability: In cases of fraud or malfeasance, individual bank officers or the Resolution Professional (RP) can be held personally liable for the costs of delayed proceedings.3. Removal and ReplacementIf the CoC or the RP is found to be acting against the interests of value maximisation (e.g., trying to transfer a valuable port at a discount rather than taking full cash payment), the court can:Remit the Plan: Order the CoC to reconsider the proposal they rejected.Disqualify Members: In extreme cases of collusion, the court can question the "independence" of creditors and their right to lead the process.4. Directing Asset HandoverThe primary goal of the IBC is debt recovery and revival, not just liquidation or asset grabbing. If MPL proves it has the funds (reportedly from international investors) to pay 100% of the debt, the court can:Stay Third-Party Sales: Stop the CoC from selling the Karanja Terminal to someone else.Withdraw Insolvency: Approve the Section 12A withdrawal, effectively handing the port back to the owners once the money is paid into an escrow account.

I recon there trying to strike a deal of sorts hence the wait . Or they have absolutely nothing and are dragging it out.

If it was a definite no or they had something we would have already seen something.

And no one wants it dragged out.

Well that's a bit disappointing it didn't hold up , but there is always tomorrow lol

This is just on your edge of your seat stuff a guys and gals lol . Bloody good luck to you all and hopefully even if we see 15 to 20p i would be bloody made up

Tiger 16

I do agree if they were in the position to just say no that would of come Monday.

I the recon coc are trying to possibly wrangle some kind of share deal for a discount on money owed so its a win win at some point if there allowed to do that.

Tiger16

On what grounds do you think they could bloke us ?

I was just thinking that

Maybe there cramming it down because its giving them a head start at a lower sp when it flies lol

This is office hrs rns not 1 company releasing good news on a mine result that they would be in control of. If the coc release its result at 1pm mercantile would need to do the same

Tucky not lucky lol

Lucky

With this in mind below this coc firm is massive. So the debt belongs to one coc that makes up 29 cocs that make up 1 company. There has got to be a lot of experience and top staff and directors in that firm that are watching closely

While it operates as one company, it is part of the broader, competitive landscape of roughly 29 registered ARCs in India, acting as a purchaser of stressed assets to make them profitable

I belive the current coc are doing exactly the same thing , the phrase used by the port owners in court last week was that the coc was not acting in a timely fashion delaying the owners right to offer to pay the debt which is why the court got involved in the first place and basically told the coc be there Friday or else.

Would it be unreasonable to assume the port collectively with land etc would be valued at 100 million ?