Maha Rashtra Apex Corporation Limited
Climate Impact & Sustainability Data (2020-2021, 2023-04 to 2024-03)
Reporting Period: 2020-2021
Environmental Metrics
Social Achievements
- Implemented a policy on prevention, prohibition and redressal of Sexual harassment of Women at workplace. All employees (permanent, contractual, temporary, trainees) are covered under this policy. An Internal Complaint Committee has been formed.
Governance Achievements
- Appointed Mr. Yazdin Jimmy Mistry and Mr. Gev Framroze Engineer as Additional Directors. Re-appointed Mr. Manjunath Manohar Singh as a Director.
Environmental Challenges
- Accumulated losses and the need to retain funds to meet deposit liabilities.
- Recovering assets and repaying liabilities under a scheme of arrangement.
- Shortfall in installment payments and assessment of its impact on the Company.
- COVID-19 pandemic impacting business operations and debt recovery.
- RBI cancellation of NBFC license.
Mitigation Strategies
- Focused on recovery of loans and repayment of deposits.
- Efforts to manage delays and shortfalls in installment payments.
- Monitoring the impact of COVID-19 on economic conditions.
- Implementing a scheme of arrangement to repay deposit liabilities.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2023-04 to 2024-03
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- accumulated losses
- need to retain funds to meet deposit liabilities
- delay and shortfall in installment payments
- assessment of its impact on the Company
Mitigation Strategies
- recovery of loans and repayment of deposits
- deposited Rs.13,95,74,920/- with High Court of Karnataka