Mercantile Ventures Limited (MVL) has taken a significant step forward in its proposed merger with India Radiators Limited by filing an application (Form NCLT-1) with the National Company Law Tribunal (NCLT), Chennai Bench. This move marks a crucial development in the ongoing amalgamation process between the two companies.

Key Developments

• MVL has filed Form NCLT-1 with the NCLT Chennai Bench.
• The filing pertains to the proposed scheme of amalgamation between MVL (Transferee Company) and India Radiators Limited (Transferor Company).
• This action follows previous intimations regarding the merger process.

Implications for Stakeholders

The amalgamation, once approved, is expected to have significant implications for shareholders and creditors of both Mercantile Ventures Limited and India Radiators Limited. While specific details of the scheme are not disclosed in the current filing, such corporate actions typically aim to create synergies, optimize operations, or consolidate market position.

Financial Position of Mercantile Ventures Limited

To provide context on the financial standing of Mercantile Ventures Limited, here's a snapshot of key financial metrics based on the latest available balance sheet data:

The company's financial position shows stability in total equity and a slight increase in investments, despite a marginal decrease in total assets. The reduction in current assets and increase in current liabilities may indicate changes in working capital management.

Next Steps

The filing of Form NCLT-1 is a preliminary step in the legal process of amalgamation. Stakeholders should anticipate further developments, including:

1. NCLT's review of the application
2. Potential hearings or requests for additional information
3. Approvals from various regulatory bodies
4. Shareholder and creditor meetings for voting on the scheme

Investors and stakeholders of both Mercantile Ventures Limited and India Radiators Limited are advised to stay informed about future announcements regarding the progress of this amalgamation process.

Note: All financial figures are in Indian Rupees (₹) and sourced from the latest available balance sheet data.

Mercantile Ventures Limited , a diversified company operating in rent and maintenance of immovable properties, manpower services, and security services, has officially completed its postal ballot process and confirmed the appointment of Mr. N Umasankar as Whole-time Director (Finance) & CFO. The company informed BSE Limited on December 17, 2025, about the successful conclusion of the voting process.

Postal Ballot Results and Regulatory Compliance

The postal ballot voting concluded on December 16, 2025, at 5:00 PM IST, with overwhelming shareholder support for both proposed resolutions. The company has fulfilled its obligations under Regulation 30 and Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015:

The remote e-voting process was conducted through CDSL platform from November 17, 2025, at 9:00 AM IST to December 16, 2025, at 5:00 PM IST. M/s. KRA and Associates, Practising Company Secretaries, served as the scrutinizers and submitted their report on December 17, 2025.

Director Appointment Details

Mr. N Umasankar's appointment as Whole-time Director (Finance) & CFO has been formally confirmed with effect from October 27, 2025. The appointment includes comprehensive details:

Professional Background and Compliance

Mr. Umasankar brings extensive experience in finance and administration spanning 32 years. His professional background includes roles as Joint General Manager at SDBCISCO (India) Ltd., Assistant Registrar (Finance) at IIIT Chennai, and General Manager Finance at i3 Security Pvt. Ltd. The company has confirmed that he is not debarred from holding the office of director by virtue of any SEBI order or any other authority.

Recent Financial Performance Context

The leadership appointment comes as the company reported mixed results for the quarter ended September 30, 2025. While standalone operations showed challenges with a net loss of ₹18.96 lakhs compared to a profit of ₹18.77 lakhs in the previous year, consolidated results demonstrated strong performance:

With the formal confirmation of Mr. Umasankar's appointment as CFO and Whole-time Director (Finance), Mercantile Ventures aims to strengthen its financial leadership and optimize operations across its diversified business segments of property management, manpower services, and security services.