Corp. Action

Modipon Limited will hold its 59th Annual General Meeting to adopt the audited financial statements for FY 2025-26. Shareholders will consider approving M/s Vasu Bansal & Co. as the new Statutory Auditors for a five-year term at 3.2 lakh per annum.

The company also seeks approval for two material related party transactions, each for up to 1 Cr in financial assistance/loans from Status Mark Finvest Limited and Ashoka Mercantile Limited.

These funds are vital for covering statutory and administrative expenses, as manufacturing operations closed in 2007 and the company reported nil consolidated turnover for FY 2025-26. Existing loans from these parties total approximately 19.91 Cr and 12.69 Cr, respectively, with repayment linked to an ongoing PNB settlement issue.