Restructuring Indian owner Mercator's banks and creditors are taking insolvency action against it as tankers are arrested.
The tanker and bulker company said proceedings have been filed at the National Company Law Tribunal (NCLT) by "a few operational creditors" and two financial creditors, ICICI Bank and State Bank of India, under the insolvency and bankruptcy code.
The cases have not yet been admitted by the tribunal, it added, so no process has started.
