Mercator Limited — Board Meeting, 28-11-2024: Outcome of Board Meeting

The Liquidator of Mercator Limited has approved the audited financial results for the quarter and year ended March 31, 2024. The company reported a total income of ₹139.41 crore and expenses of ₹3,042.04 crore, resulting in a net loss of ₹2,902.63 crore. The loss includes significant impairment charges. As a result, the entity's net worth stands at ₹(12,690.13) crore. The company remains in liquidation, with efforts ongoing to realize assets and settle claims, which amount to ₹26,479.32 crore from financial creditors. The powers of the Board continue to be vested in the Liquidator, aligning with the Insolvency and Bankruptcy Code’s directives.