Williamson Magor & Co. Limited
Climate Impact & Sustainability Data (2022-03 to 2023-03, 2022-09 to 2022-12)
Reporting Period: 2022-03 to 2023-03
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- The Board of Directors of the Company did not consist of minimum six (6) directors for the period from 30.08.2022 to 13.10.2022.
- The Company did not have atleast 1/3rd Independent Directors in the Board of Directors for the period from 30.08.2022 to 13.10.2022.
- Pursuant to resignation of Ms. Aditi Daga, Company Secretary and Compliance Officer with effect from 22 November, 2022, the company did not have a compliance officer from 23 November, 2022 to 4 December, 2022.
- The company has received a notice from SEBI regarding violation of Regulation 30(6) and Regulation 31(1) related to loan defaults and encumbrance disclosures. A settlement application is pending.
Mitigation Strategies
- The company has filed a settlement application with SEBI.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2022-09 to 2022-12
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Negative net worth as of 31 December 2022.
- Inability to meet financial commitments/covenants to lenders and statutory authorities.
- Dispute with secured creditors regarding interest on borrowings.
- Default in repayment of loans to lenders.
- Unreconciled balances relating to trade and other receivables and liabilities.
- Default in repayment of principal and interest on Non-Convertible Debentures issued to IL & FS Financial Services Limited.
Mitigation Strategies
- Discussions with lenders and promoters to address liquidity issues.
- Efforts to generate sufficient cash inflows through profitable operations and improve net working capital.
- Negotiations with lenders for waiver of interest on inter-corporate borrowings.