Modi Rubber Limited
Climate Impact & Sustainability Data (2014-04 to 2015-03, 2019-04-01 to 2019-03-31, 2023-04 to 2024-03)
Reporting Period: 2014-04 to 2015-03
Environmental Metrics
ESG Focus Areas
- Corporate Social Responsibility (CSR)
Governance Achievements
- Maintained highest standards of corporate governance and adhered to SEBI requirements.
- Constituted a CSR Committee.
- Adopted a policy on vigil mechanism and whistleblower.
Climate Goals & Targets
Environmental Challenges
- Could not get possession of Modinagar plant from the Official Liquidator.
- Litigation pending with creditors who have not accepted dues as per BIFR scheme.
- Properties occupied by illegal occupants/ex-employees.
Mitigation Strategies
- Taking actions to get repossession of properties (legal recourse and settlement).
- Following up with government agencies/authorities/creditors for relief and concessions.
- Utilizing real estate resources to generate revenue.
- Exploring additional avenues of investment in new projects in joint ventures.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2019-04-01 to 2019-03-31
Environmental Metrics
Governance Achievements
- Implemented a policy on performance evaluation for Directors, Board, and Committees.
- Constituted a committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
Climate Goals & Targets
Environmental Challenges
- Modinagar Tyre Factory (MTF) plant under possession of Official Liquidator (OL) due to pending litigation.
- Litigation with creditors who haven't accepted dues as per BIFR scheme.
- Illegal occupants/ex-employees occupying company properties.
Mitigation Strategies
- Following up with government agencies/authorities/creditors for relief and concessions.
- Taking actions to repossess company properties occupied by illegal occupants/ex-employees.
- Utilizing real estate resources to generate revenue (e.g., commercial use of guest house).
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Standards
Frameworks Used: SEBI (LODR) Regulations, 2015, Companies Act, 2013
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Governance Achievements
- Appointed Ms Nadira Faraz Hamid as an Independent Non-Executive Director.
Climate Goals & Targets
Environmental Challenges
- Could not repossess Modinagar plant from Official Liquidator.
- Litigation with one creditor pending.
- Illegal occupants/ex-employees occupying company properties.
- Notices from district administration regarding land purchased in 1982-1986.
Mitigation Strategies
- Legal recourse for repossession of Modinagar plant.
- Following up with government agencies for relief and concessions.
- Taking actions to repossess properties occupied by illegal occupants/ex-employees.
- Utilizing real estate resources to generate revenue.
- Legal recourse to defend notices from district administration.