Mercantile Ports & Logis... Share Discussion Threads

[my retirement fund] 26/3/2018 10:33

Actually these can half again then again and then again and then again add infite item

It could even be trading fractions of a penny soon. That said i'm sure it will delist fairly soon whatever imo

[marvelman] 26/3/2018 09:23

This painful journey has almost reached the cliff edge and a short drop into oblivion can see the end of this sorry episode.

[glennborthwick] 26/3/2018 00:56

yes but instead of spending 10 rupees you have to book a £5000 flight and a £800 a night hotel room but you get the mini bar for free

[diku] 25/3/2018 23:41

Any more coke or sprite left?...

[pj 1] 25/3/2018 21:35

''There is a time to laugh and a time not to laugh, and this is not one of them.''

[diku] 24/3/2018 18:34

What is the difference between pre-occupation & no good?....or is it a diplomatic resignation?...


JPT Securities - 18th March 2018 - Issued the following statement: 'we hereby inform that Mr. Nikhil Gandhi, Director of the Company has tendered his resignation with effect from March 15, 2018 due to pre-occupation."

[mount teide] 24/3/2018 15:09

Alleged Pipavav warranty breach - knowing as MPL shareholders do, Gandhi's huge propensity for extreme economy with the actualite - its possible to conceive a whole host of serious warranty breaches that could have very substantial operational, commercial and financial significance to Reliance and the future commercial viability of the shipyard business.

Consequently, it does not surprise me in the least Reliance has elected to go down the arbitration route to keep details of the alleged warranty breach confidential.

[mount teide] 23/3/2018 16:00

While arbitration is a formal process and can follow similar procedures to court proceedings, in most cases, it is a more efficient and economic exercise than litigation. It is also CONFIDENTIAL.

Considering that Reliance declined to disclose details about the warranty, allegedly breached by the seller; it suggests the claim may have a significant commercial sensitivity, which Reliance, successful or otherwise, would rather keep confidential.

[oliwin] 23/3/2018 15:36

Looking at this arbitration against Nikhil Ghandi, it looks odd! Why would someone arbitrate 3 years after buying the company. Also there is a link that Ghandi has launched a much bigger counter case.



Cites breach of a purchase agreement signed in 2015
Nikhil Gandhi-led SKIL Infrastructure Limited (SKIL Infra) has issued notice to Anil Ambani-led Reliance Infrastructure (RInfra) and Reliance Defence Systems Pvt. Ltd. (RDSPL) claiming losses of Rs. 8,310 crore, citing breach of a purchase agreement signed in 2015.


Arbitration mechanism

“The company has issued notice to RDSPL and RInfra towards breach of the purchase agreement dated 4th March 2015 entered into with RDSPL & RInfra (PA) and have claimed losses of sum of Rs. 8,130 crore, and with a further right to claim, failing which the company shall address the issue by way of arbitration mechanism to recover its dues,” SKIL Infra said.

The notice was issued after RInfra served an arbitration notice on founder-promoters of Pipavav Defence and Engineering Limited (PDEL), seeking indemnity of Rs. 5,440 crore for breach of warranties under a purchase agreement.

Responding to a notice from Anil Ambani firms, SKIL Infra said: “We hereby also inform you that the company and its subsidiary have received arbitration notice from RDSPL & RInfra towards alleged breach of terms and conditions of the purchase agreement.

The company has denied any breach of the said terms and conditions of the purchase agreement and has decided to effectively defend itself during the process of arbitration.”

[pj 1] 23/3/2018 12:56

And the bizarre appointment to the Board of Jay Mehta, the previous operations manager who had produced absolutely nothing of any worth, when in reality he should have been dismissed as a) he wasn't needed b)ineffective.

[mount teide] 23/3/2018 12:49

Investing in quoted companies is effectively a vote of support for the management team.

II supporting a £37m placing in a company at a 96% discount to the IPO price for a real estate project still run by the same Board from IPO, and who had repeatedly lied to shareholders and the wider Market, would make Bernie Madoff roar with laughter!

[mount teide] 23/3/2018 12:29

Some interesting news issued late last week by JPT Securities - The Company is a Non-Banking Financial Company which mainly deals in capital market and financial services.

Looks like the three Independent Directors had enough of seeing Gandhi's face on the front pages of the Indian Business News for all the wrong reasons and told him to fall on his sword!

JPT Securities - 18th March 2018 - Issued the following statement: 'we hereby inform that Mr. Nikhil Gandhi, Director of the Company has tendered his resignation with effect from March 15, 2018 due to pre-occupation."

[mount teide] 23/3/2018 11:58

Reference the arbitration notice served on Gandhi citing breaches of warranties and representations at the time of the sale of Pipavav Defence & Offshore Engineering - it is interesting to note that the buyers have slapped in a claim for more than double the entire purchase price such is the scale of the alleged breeches of warranty and representations.


'The amount claimed by Reliance Infrastructure is more than double of the Rs 2,000 crore it paid for acquisition of Pipavav Defence & Offshore Engineering in 2015.

“The company has discovered that there have been serious breaches of warranties and representations made by the founder promoters. As per the share purchase agreement we are entitled to claim the loss caused, in an arbitration. The company is convinced of the breaches discovered and is therefore compelled to enforce its rights,” a source close to Reliance Infrastructure said.' Times of India


The shipyard buyers like SPL/MPL shareholders have quickly found to their cost the Gandhi crew don't do anything by halves!

[waterloo01] 22/3/2018 22:56

You have been consistent that is very true.

[diku] 22/3/2018 22:46

I have been saying it all along...fishy port for fisherman best solution!!...

[marvelman] 22/3/2018 15:18

Friday post 4.30 RNS looks more than a possibility. Those that have been buying today on what they perceive as a bargain can only be doing so with eyes wide shut.

[pj 1] 22/3/2018 13:12

I once questioned Pav about the 'travelling expenses, in 2015 I think it was.

His only defence was '' it is budgeted for and within budget''

Unsurprisingly its about the only budget they have ever hit target on!!!!!!

[mount teide] 22/3/2018 13:06

Spends so much time at the Bombay High Court he's on first name terms with the security who just nod him through!

[phowdo] 22/3/2018 12:57

Is the market finally realising Nikitall might not be 100% honest?

[mount teide] 22/3/2018 12:51

Nomad Cenkos's brokerage don't want your shares - they're sat at the bottom of the bid at 2.1p !

[my retirement fund] 22/3/2018 12:46

So I guess in the grand scheme of things the siphoned tens of millions and flagrant rinsing of the cash here is actually small beer !When it comes to fraud the Indians don't do small do they.

[mount teide] 22/3/2018 12:43

“Don't tell me what you value,” Joe Biden once said. “Show me your budget, and I'll tell you what you value.”

Is Joe Biden admitting to being a MPL shareholder?

The MPL Executive Board has budgeted to spend an average of £25,000 a month for the past 9 years on travelling and hotel stays(of a standard so opulent it includes white glove butler room service!).