Mercantile Ventures Ltd

NCLT Orders Meetings for Mercantile Ventures & India Radiators Amalgamation 📋

• NCLT Chennai has ordered meetings for equity shareholders and unsecured creditors regarding the amalgamation of Mercantile Ventures with India Radiators

• The amalgamation aims to consolidate both companies into a single entity for more efficient resource utilization

• India Radiators has 4,461 equity shareholders and 1 unsecured creditor (with 100% consent)

• Mercantile Ventures has 50,668 equity shareholders and 16 unsecured creditors

• The appointed date for the amalgamation is April 1, 2025

• India Radiators had a negative net worth of ₹37.03 lakhs as of March 2025

• Mercantile Ventures had a net worth of ₹32,827.06 lakhs

• BSE has provided consent to the amalgamation scheme