Mercury EV-Tech Limited , a player in the electric vehicle (EV) sector, recently engaged in a significant meeting aimed at fostering international collaboration in EV technology. The company participated in discussions with a delegation from the Korea Smart e-Mobility Association (KEMA) at the Gujarat Chamber of Commerce & Industry (GCCI), focusing on potential technology transfer between India and Korea.

Key Highlights of the Meeting

• Objective: The meeting aimed to facilitate technology knowledge transfer for electric two-wheelers and lithium-ion batteries development.
• Korean Delegation: Led by KEMA Chairman Deuk-un Lee, who is also the Chairman of HB e-Mobility.
• Mercury EV-Tech Representation: Chairman and Managing Director Jayesh Thakkar and Executive Director Darshan Shah represented the company.

Delegation Composition

The KEMA delegation included several key figures in the e-mobility sector:

• Mr. Deuk-un Lee - Chairman of KEMA and HB e-Mobility
• Prof. Jung-Suk Ryou - Chief Representative for India, KEMA
• Mr. Su-chang Oh - Chief Representative for Indonesia, KEMA
• Dr. Im Ki Seo - Managing Director, KEMA

Potential Impact

This meeting marks a significant step for Mercury EV-Tech Limited in exploring international collaborations. The focus on technology transfer for electric two-wheelers and lithium-ion batteries could potentially enhance the company's capabilities in the rapidly evolving EV market.

Company Statement

In an official statement to the BSE, Mercury EV-Tech Limited confirmed their participation in the meeting, emphasizing the collaborative nature of the discussions. The company also shared a photograph from the event, underlining the importance of this international engagement.

The collaboration between Indian and Korean entities in the e-mobility sector could pave the way for advancements in EV technology, particularly in the two-wheeler segment and battery development. As the global push for sustainable transportation solutions continues, such international partnerships may play a crucial role in accelerating technological progress and market growth in the EV industry.

Investors and industry observers will likely keep a close watch on any further developments or formal agreements that may arise from this initial meeting between Mercury EV-Tech Limited and the KEMA delegation.

Mercury EV-Tech Limited , a player in the electric vehicle technology sector, is on the cusp of a significant corporate restructuring as it awaits the final order from the National Company Law Tribunal (NCLT) Ahmedabad Bench regarding its proposed merger with EV Nest Private Limited.

NCLT Hearing and Reserved Order

The NCLT Ahmedabad Bench heard the case on August 14, under Company Petition CP (CAA) No. 50 of 2024. The tribunal has reserved its final order on the Scheme of Arrangement between EV Nest Private Limited (Transferor Company) and Mercury EV-Tech Limited (Transferee Company). This development marks a crucial step in the company's strategic plans for growth and consolidation in the EV sector.

Legal Framework of the Merger

The proposed merger is being processed under Sections 230 to 232 of the Companies Act, 2013, along with the Companies (Compromises, Arrangements and Amalgamations) Rules, 2016. These provisions govern the process of corporate restructuring, ensuring that the interests of all stakeholders are protected during such transitions.

Company's Official Communication

In compliance with regulatory requirements, Mercury EV-Tech Limited has promptly informed the BSE Ltd. about this development. Jayesh Raichandbhai Thakkar, the Chairman & Managing Director of Mercury EV-Tech Limited, signed the official intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Recent Financial Disclosure

Mercury EV-Tech Limited has recently published its Unaudited Financial Results for the quarter ended June 30. The company adhered to transparency norms by publishing advertisements in both English (Free Press) and Gujarati (Lokmitra) newspapers on August 15, as per SEBI regulations.

Implications for Stakeholders

While the final order is pending, this potential merger could have significant implications for Mercury EV-Tech Limited's future operations, market position, and shareholder value. Investors and industry observers will be keenly watching for the NCLT's decision, which could reshape the company's trajectory in the competitive electric vehicle technology landscape.

As the EV market continues to evolve rapidly, strategic moves like this merger could play a crucial role in positioning companies for future growth and technological advancements. Stakeholders of Mercury EV-Tech Limited will need to stay tuned for further updates as the company navigates this important corporate action.