Shares in Mercantile Ports and Logistics Ltd (LON: MPL) fell 15% to 1.30p after a key court hearing in India linked to the company’s fight over its Karanja port asset was adjourned.
The AIM-listed company said a hearing before the National Company Law Tribunal in Mumbai was adjourned on Wednesday, with no substantive order passed.
The matter has now been listed for further hearing on August 7, 2026.
Mercantile owns and has developed the Karanja port and logistics facility near Navi Mumbai through its subsidiary Karanja Terminal & Logistics.
The company is challenging the corporate insolvency resolution process affecting Karanja Terminal, which it says threatens its ability to recover value from the asset it spent years…