Member Info for SmTch73

I personally cant see how the coc have anywhere to manoeuvre with the current situation because if there was a way they would of played that hand already and they haven't so it seems there is no hand to play.

The courts wont allow the debt to be kicked around from lender to lender this has to much publicity and an equity swap is as good as the debt paid so it doesn't matter how you dress it up the debt will be gone and they would have there port back

I belive there about 4 hrs in front and the coc arnt interested in Rns reporting so I recon your right on that call

The courts very much have plenty of powers to stop a sale . The coc has not been replying to the owners who have the money to pay hence the intervene by India's supreme court who quite clearly can see that the coc are taking the p..s hence the demand for a meeting last friday. It is very clear the coc have an agenda with a third party sale. This would be deemed bad faith and over ridden by the legal system . The coc possibly will try there luck however they have to have a dam good reason to reject a 100% settlement that they clearly don't have have or they would of already used it. The coc also do not benefit from additional money from the sale to a third party the owners get it. Also if a 100p in the £ payment is offered as in debt in full they cant refuse it as the debt is paid. With all this in mind the coc are going to have to have a bloody good reason to not allow them to pay there debt and if the highest court in the land has decided that the owner have not broken any rules because if they had the courts would of already told the owners you failed to do this so your not getting your port back so just based on that basis alone i don't believe that the coc really have much of a choice and the owners will go legal channels to get there port back and again if the courts thought they had broken any rules this would of been over last week. All this is just my opinion and i could be totally wrong but if you research how the situation lies and what the courts have at there disposal there is an awful lot of positives on the side of the owners and none other than they want a third party to have it. As the honest question if they had absolutely nothing else to gain other than the debt payment why not just take the money and i think we all know the answer to that question

Offering at 0.02650 @ 300000

Trying hard to keep the price down cheeky buggers

UNkwn

Its not for u then 😆 😂

Clearly short on shares being offered 2.7 happy days

What a great turn out

Lowerrisk

Its not for the port owners want of trying , its the coc that have refused as they are dragging there heels and trying to flog the port to a third party that clearly has a hidden agender because the owners made an offer to pay and had no reply from coc which is why they got told directly by the supreme courts on Monday last week , turn up Friday last week for the meeting with the port owners regarding payment or else . Sure enough the coc turned up.

As for the money that's from an oil and gas company and UK investors.

Quite clearly the creditors have some shady deal there waiting on with a third party because if it was just a case of collecting the full payment for said debt they would of just taken the payment from the owners and been done with it.

The creditors do not benefit directly from the port sale if its sold for more than the debt , the port owners would get the change. So very clearly the creditors are looking to benefit after the deal from the said new owner if sold to a third party other than the owners getting it back, £1000000 says that the same creditors have a separate consortium amongst themselves that want said port which is how they would benefit . But we are talking about India and they are actually listed as one of the countries inside of the top 25% of corrupt countries in the world lets hope the law has the upper hand with this

Solstace

On what i have researched on this type of situation the courts very much seem to be on top of Creditors trying to take the p..s . And by looking at the scenario with this case they have already had influence over the coc meeting the owners at short notice. There is a whole ream of law that supports 100% payment by a debtor and the courts are clearly not just gonna let the coc sell the port to a third party or they would of let them do it already in my opinion of course

P2R

So im guessing the people spending 50 million on the said port need to come consult with u then mate. Seeing as your so clued up on the price of ports.

Typical 🔔 end sat around in your pants making out like your the authority on the price of a port half way around the world whilst punting a few quid on a share and made a fiver. Proper puller

The previous sp base line prior November 25 was around 0.8 so I think 0.5 is definitely optimistic

SirJames

The courts are now very much aware that the coc are not playing by the rules.

There are a whole load of areas that favor the port owners from

100p in the pound full debt recovery offer.

No worse off if a third party bought the port or the owners pay the debt

Also if the coc try playing games the court can use a procedure called crammed down where they force the coc to take the payment.

It looks very clear at the moment the coc is acting in bad faith and the courts have clearly picked up on this hence there intervention

Tiger

It clearly hasn't been sold off to a company that wants to keep the asset or the talk of a sale to a third party by the current debt owner Ark would not exist would it . Just take a minute to let that sink in .

Is it likely that after the intervention of India's supreme court with the coc that the offer by mercantile ports to repay their debt in full be accepted next week. Based on recent updates as of April 10, 2026, it is highly likely that Mercantile Ports & Logistics (MPL) is entering a critical phase where their full repayment offer has a strong chance of being recognized, though immediate acceptance by the Committee of Creditors (CoC) is not entirely guaranteed without continued legal pressure.Here is the breakdown of the situation following the India Supreme Court intervention:Supreme Court/NCLT Intervention: The National Company Law Tribunal (NCLT) in Mumbai, under the guidance of higher courts, directed the CoC to convene with MPL on Friday, 10 April 2026, specifically to consider the 100% repayment proposal.Court Mandate: The court instructed that the CoC's consideration of this proposal must be a genuine exercise of "commercial wisdom" and not merely an empty formality, signalling a move against arbitrary rejection by the creditors.The Repayment Offer: MPL has officially offered to redeem 100% of its outstanding debt (approximately £50m, based on user commentary) and has secured funding commitments from an international oil and gas company and other investors.CoC Position & Conflicts: The main obstacle is that the CoC, led by Prudent ARC, has been previously accused of ignoring the 100% repayment offer in favor of third-party resolution plans, leading to accusations of bad faith by MPL.Likelihood of Success: The legal sentiment is that it is very difficult for a CoC to arbitrarily reject a full (100%) debt settlement, as this is viewed as an abuse of the insolvency process.Conclusion: The intervention by the courts has significantly enhanced the likelihood that the offer is accepted. The meeting on April 10, 2026, was mandated to prevent the CoC from acting arbitrarily. While the creditors have previously been difficult, the intense legal scrutiny makes it highly probable that the proposal is now treated seriously, leading to a possible positive resolution in the following week.

It clearly has something to do with the courts because if u actually read how todays meeting came about it was indias Supreme court that basically told the coc you will attend this meeting and you will hear them out on there offer to repay the debt

So for all that keep banging on about article 12a .

Quite clearly this article can be used , however the port owners as well as the supreme court in India clearly belive that the sale of the asset to a third party by the coc rather than taking the payment in full has very much raised an eyebrow to the point the court ruled that the coc must meet today to discuss taking the debt repayment of the full amount. Further more firstly the coc have to have good reason to reject the payment in full and at the moment the port owners are clearly pointing out that the third party sale appears to be very underhanded tactic to sell there asset for more than the debt is worth. As much as this makes good business sense the courts very much side with payment of the debt in full to prevent shady dealings to remove and sell assets for mor than the actual debt.However this below makes interesting reading

The "Arbitrary Rejection" Exception (Where the Court Can Intervene)Despite the heavy deference given to creditors, the Supreme Court has made it clear that the CoC does not have absolute, unbridled power.In the seminal case Swiss Ribbons v. Union of India, the Supreme Court explicitly noted that if the CoC arbitrarily rejects a just settlement and/or withdrawal claim, the NCLT and NCLAT can set aside such a decision.Because all creditors are strictly entitled to receive \(100\%\) of their legitimate admitted debt, a CoC's refusal to accept a complete, verifiable \(100\%\) debt clearance offer can be viewed by the courts as an abuse of process or an attempt to "hijack" the asset for third parties.3. The Power of Article 142The Supreme Court of India possesses a unique constitutional power under Article 142, which allows it to pass any order necessary to do "complete justice" in any matter pending before it.On several occasions in complex corporate insolvency cases, the Supreme Court has bypassed standard statutory hurdles to permit a settlement and hand a company back to its original promoters when a credible, full-value settlement was on the table.Summary for Mercantile PortsFor the Supreme Court to overturn a rejection by Prudent ARC and the CoC:MPL must prove that its settlement offer covers the full admitted debt in a clean, unconditional manner and that the CoC is acting maliciously or arbitrarily by ignoring it to favor third-party bidders.If the court agrees that the CoC's refusal is a bad-faith attempt to strip international shareholders of a viable asset, it has the ultimate judicial authority to force the acceptance of the settlement.

😆 🤣 😂 😹 😆

So what is the actual value of the port its self