---
title: "Mercantile Ports Shares Jump 65% as Karanja Port Case Nears Judgment"
publisher: "Share Talk"
author: "sharetalk"
published: "2026-10-06T15:16:43+00:00"
modified: "2026-10-06T15:16:43+00:00"
date: 2026-10-06
canonical: "https://www.share-talk.com/mercantile-ports-shares-jump-65-as-karanja-port-case-nears-judgment/"
category: "Business & Support Services"
categories: ["Business & Support Services", "Technology", "Technology, Media & Telecoms"]
tags: ["Adani Group", "Adani Ports & Special Economic Zone Ltd", "courts", "Indian governments", "Karanja terminal", "Mercantile Ports & Logistics Ltd", "MPL", "Mumbai harbour", "Pavan Bakhshi", "Stefan Passantino"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/8587cba6-b2ab-4067-81fb-89a2bbacbf09.png?fit=1727%2C911&ssl=1"
format: "news"
language: "en-GB"
---

# Mercantile Ports Shares Jump 65% as Karanja Port Case Nears Judgment

**Published:** October 6, 2026
**Author:** sharetalk
**Categories:** Business & Support Services, Technology, Technology, Media & Telecoms
**Tags:** Adani Group, Adani Ports & Special Economic Zone Ltd, courts, Indian governments, Karanja terminal, Mercantile Ports & Logistics Ltd, MPL, Mumbai harbour, Pavan Bakhshi, Stefan Passantino
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2026/10/8587cba6-b2ab-4067-81fb-89a2bbacbf09.png?fit=1727%2C911&ssl=1)

---

[Mercantile Ports and Logistics Ltd (LON: MPL)](https://www.investegate.co.uk/announcement/rns/mercantile-ports-logistics-limited--mpl/nclt-hearing-update/9807656)**shares jumped as much as 65% to an intraday high of 2.65p** after the company said final oral submissions had been completed in proceedings concerning its **Karanja Port subsidiary**.

The AIM-listed ports operator said it made final submissions in rejoinder before India’s **National Company Law Tribunal on 24 September**.

All parties have now been instructed to file their written submissions by **8 October 2026**.

A judgment on Mercantile Ports’ challenge to the rejection of its **Section 12A proposal** is expected after that process has been completed.

The company is seeking to preserve control of the Karanja Port asset and argues that it was **not given a genuine opportunity to repay the outstanding debt** despite having financed, developed and constructed the port.

Mercantile Ports’ legal counsel has argued that, had lenders provided a clear and enforceable mechanism for repayment, the debt would already have been settled.

The company has also alleged that **Prudent ARC and certain lenders obstructed completion of its proposed one-time settlement and acted to facilitate the transfer of the asset to a predefined party**.

Those claims remain allegations advanced by Mercantile Ports in the proceedings and have **not been established by the tribunal**.

The company maintains that repeated attempts to repay the debt in full were frustrated, leading to a legal process that has now continued for more than a year.

For investors, the sharp share-price reaction reflects the importance of the Karanja Port asset to Mercantile Ports and the possibility that a favourable ruling could materially change the company’s position.

However, the tribunal has **not yet delivered its judgment**, and there is no certainty that Mercantile Ports’ challenge will succeed.

The immediate catalyst is therefore straightforward: **completion of written submissions by 8 October followed by the National Company Law Tribunal’s decision on the company’s challenge to the rejected 12A proposal**.

Until that ruling is issued, the investment case remains highly dependent on the outcome of the legal proceedings.

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