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MMTC Ltd. — Regulatory Filings 2021
Aug 6, 2021
60315_rns_2021-08-06_9ff15675-0037-4ae5-83b9-06eeebf58802.pdf
Regulatory Filings
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Core #1, Scope Complex, 7, Institutional Area, Lodi Road, New Delhi –110003.
Phone No:24362200; 24361889 Fax No. 24360724
Email: [email protected] Website: www.mmtclimited.com
CIN: L51909DL1963GOI004033
No.BS/SEs-corres./2021 Dtd: 6[th] August, 2021
| The Listing Department National Stock Exchange of India Ltd Exchange Plaza, Bandra Kurla Complex, MUMBAI 400051 Symbol & Series: MMTC/EQ |
Department of Corporate Services Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street MUMBAI 400 001 Company Scrip Code:513377 |
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Sub: Request for waiver of time limit for publication of Audited Financial Results of MMTC Ltd for the quarter and year ended 31.03.2021.
Sir/Madam,
Further to our previous communication of even number dated the 24[th] June 2021 on the subject, we would like to inform that due to a very large exposure of MMTC in Neelachal Ispat Nigam Ltd. (NINL) of which MMTC is a major promoter, the conclusion of accounts of NINL form a very substantive input for MMTC. Due to COVID-19 pandemic and cessation of the functions of NINL’s Steel Plant and continuous lock down and unrest at the Plant, the process of finalization of accounts of this JV company for the financial year 2020-21 has got delayed and is yet to be approved by the Board of NINL. As you are aware, the Govt. of India has already approved disinvestment of all Govt. companies’ shareholding including MMTC in NINL. This would have bearing on the accounts of MMTC Ltd. Vigorous efforts are being made to get the accounts for FY 2020-21 finalized and audited.
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It may also be mentioned that on the Review Petition filed by MMTC in the matter of MMTC vs. Anglo American Metallurgical Coal Pty Ltd, the Hon’ble Supreme Court has passed an order reducing the interest component. Details are being worked out to know the impact on this decision. MMTC may be required to make significant provision in the Accounts for 2020-21 subject to Auditors/Board approval. However, all legal remedies still available are being explored. On account of this, the Annual Accounts of MMTC for the financial year 2020-21 may be delayed.
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We have also sought permission from SEBI vide our second request letter No. BS/85/UFR-AA/2021 dated 4[th] August 2021 (copy enclosed) to extend the time limit upto 31.8.2021 for holding Board Meeting of MMTC for consideration of Annual Audited financial results for the year ended
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Core #1, Scope Complex, 7, Institutional Area, Lodi Road, New Delhi –110003.
Phone No:24362200; 24361889 Fax No. 24360724
Email: [email protected] Website: www.mmtclimited.com
CIN: L51909DL1963GOI004033
31.03.2021 including consolidated results as per Regulation 33 of SEBI (LODR) Regulations, 2015.
- Considering the above circumstances, we request the Stock Exchanges to extend the time limit upto 31.8.2021 for holding the meeting of Audit Committee and Board of Directors for consideration and approval of Audited Financial Results (both stand alone and consolidated) for the year ended 31[st] March 2021. However, vigorous efforts will be made to finalise the accounts for the financial year 2020-21 at the earliest, please.
Thanking you,
Yours faithfully, For MMTC Limited
G ANANDANARAYANAN Digitally signed by G ANANDANARAYANAN DN: c=IN, o=MMTC LIMITED, postalCode=110003, st=Delhi, 2.5.4.20=886750f107ba6b43e7bcf02a2c995b20af97dd8175618bbcf42a2bdf2c6810c7, serialNumber=a714cf5443bfb4dbf64ff5f27b1befeb9c09f4633f0592762b7ba62248475431, cn=G ANANDANARAYANAN Date: 2021.08.06 13:19:45 +05'30' (G.Anandanarayanan) Company Secretary
Copy to: Compliance & Monitoring Division, Securities & Exchange Board of India, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai – 400051.