Olympic Management & Financial Services Limited held its 42nd Annual General Meeting on September 24, 2026, in Mumbai. The meeting focused on governance changes, including the re-designation of Pawan Kr Agarwal from Independent to Executive Director.

The proceedings commenced at 4:00 pm and concluded at 5:00 pm at the Indo American Society in Fort, Mumbai. A total of 30 members attended in person, while three members participated through proxies. The requisite quorum was present for the meeting.

Governance and leadership changes

The shareholders considered several key resolutions regarding the company's board composition and operational limits. Miss Preethi Yangal proposed Shri Pawan Kr Agarwal to chair the meeting, a motion seconded by S. N. Agarwal. The Chairman noted that the Statutory Auditors, M/s. R. K. Khandelwal & Co., and Secretarial Auditors, Manthan Negandhi & Co., were present.

Key resolutions voted upon included:

1. Adoption of audited financial statements for FY26.
2. Re-appointment of S. N. Agarwal as Director retiring by rotation.
3. Change in designation of Pawan Kr Agarwal to Executive Director.
4. Approval of related party transaction limits up to ₹2 crore.
5. Approval of loans, guarantees, and investments under Section 186 of the Companies Act, 2013.

Voting process and disclosures

Voting was conducted by poll for shareholders who had not previously cast votes via e-voting. Mr. Manthan Negandhi served as the scrutinizer. The voting window remained open for 15 minutes after the conclusion of the meeting.

Results were scheduled for declaration within one day of the meeting's conclusion. They were made available on the company's website and stock exchange platforms.

Olympic Management & Financial Services Limited has scheduled its 42nd Annual General Meeting for September 24, 2026, to address significant board restructuring and governance compliance measures.

The meeting, set to take place at the Indo American Society in Mumbai, will see shareholders vote on converting Chairman Pawan Kr Agarwal’s designation from Independent Director to Executive Director. This special resolution aims to rectify an inadvertent filing error identified by the secretarial auditor, who noted that Agarwal, a majority shareholder and promoter, was incorrectly recorded as independent.

What the Numbers Show

The company reported a net loss of ₹14.44 lakh for FY26, a marked improvement from the ₹45.40 lakh loss in FY25. Operating revenue rose 150% to ₹12.85 lakh, driven by better resource utilization. However, cash flow from operating activities remained negative at ₹13.62 lakh, while financing activities generated ₹22.00 lakh through long-term borrowings and loans.

Governance and Compliance Actions

The secretarial audit report highlighted several compliance gaps the company is addressing:

• The website is not updated in real-time, with management committing to stronger internal processes.
• Promoter shareholding remains in physical mode under an escrow account, causing temporary mismatches with Registrar and Transfer Agent records.
• The company is currently marked as SDD Non-Compliant on BSE master data, with corrective measures underway.
• Financial statements for FY26 were unsigned by the Company Secretary due to a vacancy in the role following the resignation of Mr. Prashant Vipani.

Key Resolutions

In addition to the board designation change, shareholders will consider:

• Reappointment of Whole Time Director S. N. Agarwal, who retires by rotation.
• Approval for related-party transactions up to an aggregate limit of ₹2 crore until the next AGM.
• Authorization for loans, guarantees, and investments up to ₹2 crore under Section 186 of the Companies Act, 2013.

E-voting will be open from September 21 to September 23, 2026, via CDSL’s platform. The register of members will remain closed from September 18 to September 24, 2026.