Please find enclosed the outcome of board meeting held on November 14, 2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
By the next day the stock moved 5.2 pts more than Nifty Microcap 250 and 5.3 pts more than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Modipon Limited's board, which met on November 14, 2025, approved the unaudited standalone financial results for the quarter and half year ended September 30, 2025. The company has been a non-manufacturing entity since it permanently shut down operations in May 2007 and continues to carry a deeply negative net worth of roughly Rs. 10,353 lakhs in accumulated losses. The results carry 15 explanatory notes flagging serious concerns: outstanding unresolved disputes with Punjab National Bank around a one-time settlement (OTS) of dues (including past NCLT/IBC proceedings), related-party dealings with Ashoka Mercantile Limited (AML) leaving over Rs. 725 lakhs unallocated across three banks, a Rs. 58.05 lakh unprovided central excise duty demand, and a Rs. 183.90 lakh commercial tax liability shortfall versus the agreed OTS amount. The statutory auditor B.M. Chatrath & Co LLP issued a qualified review report with the conclusion made 'subject to' notes 4 through 15.
The filing paints a picture of a virtually defunct shell company with negative net worth, legacy bank litigation, and large unprovided liabilities — meaningful financial recovery for shareholders appears unlikely, and the stock is likely to remain thinly traded and sentiment-driven.