Modi Rubber Ltd. - Quarterly/Annual Result Disclosures and Notes dated 31 Mar 2017
Auditor and Management Disclosures and Notes for the annual results dated 31 Mar 2017
1. The above results were reviewed and approved by the Board of Directors at their meeting held on 29th May. 2017
2. Other expenditures includes expenditure on rent, rates & taxes, electricity, travelling, insurance etc.
3. In compliance of directions issued by the BIFR vide its order dated 23.02.2010. the unimplemented portion of the SS - 08 has been implementing by the company and a status report to this effect as at 30.09.2016 was also submitted by the company with BIFR periodically on 20.10.2016. With effect from 01.12.2016. SICA repealed by Government of India vide its Gazette Notification dated 25.11.2016 and all approved schemes will now be governed by National Company Law Tribunal.
4. Modi Nagar Plant, set-up on the land & shed taken on lease from Modi Export Processors Limited (MEPL) which is under liquidation, could not be repaired / re-started due to seal put in by the Official Liquidator of MEPL. Company has filed Special Petition before the Division Bench of Allahabad High Court for taking back possession for carrying out industrial activities.
5. Company's products fall in single segment category i.e. tyres. tubes and flaps.
6. The figures for the quarter ended 31st March, 2017 are the balancing figures between audited figures in respect of full financial year ended 31st March, 2017 and the unaudited published year to date figures upto the quarter ended 31st December, 2016 which were subjected to a limited review.
7. Pursuant to requirement of SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015, consolidated figures include only its subsidiary companies Joint Venture/Associate(s) Companies results will be consolidated as per Accounting Standards issued by ICAI when the same are received, in compliance to Companies Act for Annual Report.
8. Previous quarter/year figures have been regrouped/rearranged wherever necessary.