Disclosure of Voting Results of Postal Ballot Notice dated April 07, 2025 along with Scrutinizer Report.
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Olatech Solutions Ltd has announced the voting results of its Postal Ballot Notice dated April 7, 2025, conducted via remote e-voting (April 9 – May 8, 2025). All 6 resolutions were passed with the required majority. Key items approved include: (1) regularisation of Mr. Naved Iqbal as Non-Executive Director (99.69% in favour), (2) change in designation of Mr. Navneet Kakkar from Non-Executive to Executive Director (100%, promoter votes excluded), (3) regularisation of Mr. Vijay Mukesh Thakkar as Non-Executive Independent Director (100%), (4) approving director remuneration exceeding Section 197 limits (99.70% in favour), (5) increasing remuneration of Chairman and MD Mr. Amit Kumar Singh (100%, promoter votes excluded), and (6) approval to advance loans, give guarantees or security under Section 185 of the Companies Act, 2013 (100% in favour). Promoters hold 62.7% (27,91,280 shares) and public non-institutions hold 37.3% (16,59,270 shares) of the 44,50,550 total shares.
Minor governance changes for shareholders – director appointments and designation changes are routine. The increase in MD remuneration and the Section 185 loan/guarantee authority are noteworthy for minority shareholders as they involve related-party-style authorisations, though both passed with full public support after promoter votes were excluded as 'interested' and invalidated.