Modipon Limited , a company that discontinued its manufacturing operations in 2007, has recently approved its unaudited financial results for the quarter and half year ended September 30, 2025. The results indicate ongoing challenges for the company as it continues to face financial losses and legal proceedings with Punjab National Bank (PNB).

Financial Performance and Legal Challenges

The company's Board of Directors, in a meeting held on November 14, 2025, approved and adopted the unaudited financial results. While specific figures were not disclosed, the company reported continued losses for the period. These financial difficulties are compounded by multiple legal proceedings with PNB, primarily concerning loan settlements.

Ongoing Disputes

Modipon Limited is involved in several disputes:

1. One-Time Settlement (OTS) Terms: The company is engaged in a legal battle with PNB over the terms of a one-time settlement.

2. Commercial Tax Liabilities: There are ongoing disputes regarding commercial tax obligations.

3. Central Excise Dues: The company is facing issues related to central excise dues.

These legal proceedings collectively involve several crores of rupees, adding significant financial pressure to the company.

Legal Developments

Recent legal developments highlight the complexity of the situation:

• A Debts Recovery Tribunal-II, Delhi order dated July 30, 2018, was passed in favor of Modipon Limited. This order directed PNB to accept ₹65.00 lakhs as outstanding principal of OTS, plus ₹258.62 lakhs as interest.
• PNB has encashed ₹65.00 lakhs towards principal OTS and ₹259.62 lakhs towards interest, as per the order of the Debts Recovery Appellate Tribunal (DRAT), New Delhi.
• The DRAT reserved its order on December 27, 2018, in this matter.
• The Delhi High Court, through an order dated October 24, 2019, stayed the DRAT and NCLT proceedings filed by PNB until further notice.

Discrepancies in Financial Records

Adding to the complexity, there appears to be a discrepancy in the company's financial records:

• The outstanding liability in the company's books is higher than the OTS amount by ₹183.90 lakhs.
• This difference is attributed to interest provisions made by the company.

Looking Ahead

As Modipon Limited continues to navigate these financial and legal challenges, the resolution of its disputes with PNB and other authorities may be crucial for its future. The ongoing legal proceedings and their outcomes could potentially impact the company's financial health and operational capabilities.

Investors and stakeholders may closely watch for any developments in these legal battles and their potential impact on the company's situation.

Modipon Limited , a company listed on the BSE, has announced its intention to seek Central Government approval for the re-appointment of Mr. Manish Modi as Chairman & Managing Director. The company disclosed this information in a recent filing with the BSE Limited.

Key Details of the Re-appointment

Public Disclosure

Modipon Limited has taken steps to ensure transparency in this process:

• The company published a newspaper notice regarding its intention to seek Central Government approval.
• The notice was published in two newspapers: Financial Express and Jansatta, both dated August 27, 2025.
• The company promptly informed BSE Limited about this publication on the same date.

Corporate Governance

This move by Modipon Limited demonstrates adherence to corporate governance norms:

1. Regulatory Compliance: By seeking Central Government approval, the company is following the necessary regulatory procedures for appointing a Non-Resident Indian to a key managerial position.
2. Transparency: The public announcement through newspaper notices ensures that shareholders and the public are informed about this significant corporate action.
3. Timely Disclosure: The immediate communication to BSE Limited showcases the company's commitment to keeping the stock exchange and investors updated.

Company Information

Modipon Limited is listed on the BSE with the scrip code 503776. The company's registered office is located at Hapur Road, Modinagar, Ghaziabad - 201 204 (UP).

The notice was signed by Vineet Kumar Thareja, who serves as the Company Secretary & Compliance Officer of Modipon Limited.

Investors and stakeholders are advised to keep an eye on further developments regarding this re-appointment process, as it may have implications for the company's future leadership and strategic direction.