Olympia Industries disclosed that Kamlesh Shah has ceased to serve as an independent director. His tenure ended on September 16, 2026, marking the completion of his second five-year term on the board.

The Mumbai-based engineering firm made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was submitted to the Bombay Stock Exchange on September 17, 2026.

Director Details

Shah, identified by DIN 07657503, served as an independent director until the conclusion of his mandated tenure. The company stated that his cessation was due to the completion of his term rather than resignation or removal.

The disclosure aligns with regulatory requirements under SEBI Master Circular No. SEBI/HO/49/14(7)2025-CFD/PoD2/I/3762/2026 dated January 30, 2026. Avanti Patthey, Company Secretary and Compliance Officer, signed the filing.

Olympia Industries shareholders approved all five resolutions at its 37th Annual General Meeting held on September 9, 2026. The company appointed Vishal Rajgarhia as an independent director and cleared related-party transactions with near-unanimous support.

The meeting was conducted via video conferencing in compliance with Ministry of Corporate Affairs guidelines. It began at 11:30 am and concluded at 12:08 pm. A total of 58 members voted, representing 4,364,393 shares, which accounted for 72.46% of the total paid-up share capital.

Voting Results Overview

All resolutions passed with overwhelming support. Promoter group participation was high for non-related-party items, while promoters abstained from voting on related-party matters as required by regulation.

Key Resolutions Passed

Shareholders approved several key resolutions through remote e-voting. The ordinary business included the adoption of audited financial statements for the fiscal year ended March 31, 2026. Members also approved the re-appointment of Mr. Bhushan Patil as a director, replacing his term retiring by rotation.

Under special business, the company appointed Mr. Vishal Rajgarhia as a Non-Executive Independent Director. Based on the recommendation of the Nomination and Remuneration Committee and the Board of Directors, Mr. Rajgarhia will hold office for a term of five consecutive years, commencing from September 9, 2026 to September 8, 2031.

Mr. Rajgarhia is a Chartered Accountant with extensive experience in manufacturing industries, specializing in business operations and strategic leadership. He possesses strong expertise in financial risk management and portfolio oversight, including prior experience in managing aviation risk portfolios and driving business turnaround initiatives. He is not related to any other director of the company and is not debarred from holding the office of director by virtue of any SEBI order or other authority.

Related Party Transactions

The AGM addressed two material related-party matters requiring shareholder approval. The first resolution approved an increase in remuneration for Mr. Anurag Pansari, Vice President of the company. The second resolution approved material related-party transactions with Tirupati Biz Link LLP.

For these specific resolutions, promoter group members abstained from voting as required under Section 188(1) of the Companies Act and Regulation 23(4) of the SEBI Listing Regulations. Consequently, the votes were cast solely by public shareholders. Mr. Bhushan Patil chaired the proceedings for these specific resolutions, as Chairman and Managing Director Mr. Navin Pansari had an interest in them.

Governance and Compliance

The statutory auditors' report contained no qualifications or adverse remarks. Consequently, the report was taken as read with member permission under Section 145 of the Companies Act, 2013.

Mr. Vinod Kumar Mandawaria served as the scrutinizer for the e-voting process. The voting results and scrutinizer's report have been filed with the stock exchanges pursuant to Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.