Optimus Finance Limited has secured Board approval for the re-appointment of Mr. Dipak Raval as Whole Time Director for a tenure of five years. The Board, meeting on August 08, 2026, accepted the recommendation of the Nomination and Remuneration Committee to extend Mr. Raval’s term from August 10, 2026, to August 09, 2031. This appointment is subject to shareholder approval at the ensuing general meeting.

The re-appointment addresses the retirement by rotation of Mr. Raval, who holds DIN 01292764. Notably, the approval includes provisions allowing him to continue in office beyond the age of 70 years, aligning with corporate governance norms that permit such extensions under specific conditions. The Board confirmed that Mr. Raval is not debarred from holding the office of Director by virtue of any SEBI order or any other authority, in compliance with circular no. LIST/COMP/14/2018-19 dated June 20, 2018.

Appointment Details

The key parameters of the appointment are outlined below:

This filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The disclosure was signed by Vruti Surti, Company Secretary & Compliance Officer, and submitted to BSE Limited on August 08, 2026.

Governance Implications

The extension of Mr. Raval’s tenure beyond the age of 70 years highlights the Board’s reliance on his existing expertise and strategic direction. Mr. Raval, aged 66, is a Graduate in Commerce and Law and a Fellow Member of the Institute of Company Secretaries of India (ICSI). He possesses over four decades of experience in Company Law, Securities Laws, Banking & Finance, and Administration. Previously, he served as Managing Director & CEO with Vadodara Stock Exchange and as GM & Company Secretary with listed companies. Shareholders will now evaluate this proposal based on the performance metrics and strategic goals presented during the upcoming general meeting.

Optimus Finance Ltd accepted the resignation of Mr. Rahil Thaker from the position of Non-Executive Independent Director effective July 6, 2026. Thaker stepped down due to personal and unavoidable circumstances, concluding his tenure with the company at the close of business hours on the same date. Consequently, he ceased to be a member of the Audit Committee and Nomination & Remuneration Committee of the company.

The company confirmed that there were no material reasons for the resignation other than those stated by Thaker. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the Listing Regulations. The information was submitted to BSE Limited and is available on the company's website.

In his resignation letter, Thaker thanked the Board of Directors for the opportunity, support, and cooperation extended during his tenure. He requested the Board to submit the necessary intimation to the stock exchange and forms with the Registrar of Companies in accordance with applicable laws.

Thaker provided a confirmation that there were no other material reasons for his resignation. He also disclosed his directorship in another listed entity, Maximus International Limited, where he serves as a Non-Executive Independent Director and is a member of the Audit Committee and Nomination & Remuneration Committee.

Resignation Details