Climate Change Data

Environmental Metrics

Governance Achievements

• Constituted an Internal Complaints Committee to look into complaints of sexual harassment at the workplace of any women employee.
• Adopted a policy for prevention of sexual harassment of women at the workplace and has set up an internal committee for implementation of the said policy.

Climate Goals & Targets

Environmental Challenges

• The company stopped NBFC business as per the undertaking given to the Hon’ble High Court of Karnataka.
• Accumulated losses of Rs.6.21 Crores as on 31st March, 2016.
• Scheme of Arrangement sanctioned by the Hon’ble High Court of Karnataka with unclaimed public liabilities of Rs.1.90 Crores and unpresented cheques amounting to Rs.2.92 Crores.

Mitigation Strategies

• Focusing activities on recovery of overdues.
• Applied to RBI for registering it as a Non-Deposit taking NBFC for pursuing business of Hire Purchase/Lease finance.
• Reduced accumulated losses to Rs.4.49 Crores on 31st March, 2017.
• Arrangements are in place to pay the claims received from investors as and when the original investment certificates are lodged.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Losses incurred during the year leading to erosion in net worth.
• Suspension of share trading on BSE and NSE.
• Rejection of request for Certificate of Registration (COR) as Non-deposit taking NBFC by Reserve Bank of India.

Mitigation Strategies

• Engaging in fee-based activities (corporate agent for insurance companies, collecting overdue portfolios) to generate income.
• Pursuing revocation of share trading suspension with BSE and NSE.
• Filing an application with the Appellate Authority to appeal the rejection of COR.

Supply Chain Management

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact causing slowdown of economic activities, potential lower rental income due to waivers/concessions, and lease cancellations.

Mitigation Strategies

• Analyzing liquidity position and asset recoverability, expecting rental income to return to existing levels post-pandemic, remaining vigilant on developments to mitigate adverse impacts.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting businesses globally and in India, leading to slow progress in debt recovery, lower rental income due to waivers/concessions, and potential lease cancellations.
• Legal expenses incurred in connection with Income Tax Block Assessment Case.

Mitigation Strategies

• Diversifying into fee-based activities such as acting as a corporate agent for insurance companies and collecting rent from leased premises.
• Continuing assessment of likely adverse impact on economic environment and financial risks on account of COVID-19.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Slow progress in recovering amounts due from Hire Purchase/lease/loans and other dues due to the pandemic.
• Impact of COVID-19 on the economy, potentially leading to lower rental incomes and cancellation of lease agreements.

Mitigation Strategies

• Working as a Corporate Agent for Life and General Insurance Companies to generate additional income.
• Continuing assessment of the likely adverse impact on the economic environment and financial risks on account of COVID-19.
• Expecting rental income to return to existing levels post-pandemic.

Supply Chain Management

Climate-Related Risks & Opportunities