Non applicability of Disclosure under regulation 23 (9) of LODR related to Related Party Transaction.
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Olympia Industries has informed BSE that the related party transaction disclosure under Regulation 23(9) of SEBI LODR is not applicable to the company for FY2024-25. As of March 31, 2024, the company's paid-up equity share capital stood at Rs. 6.02 crore and net worth at Rs. 24.83 crore, both below the exemption thresholds of Rs. 10 crore and Rs. 25 crore under Regulation 15(2). The company has therefore claimed exemption from corporate governance provisions including related party disclosures. However, per the audited FY2024-25 financials (approved May 28, 2025), the net worth has risen to Rs. 26.13 crore, crossing the Rs. 25 crore threshold. Consequently, full corporate governance compliance – including related party transaction disclosures and the annual secretarial audit report – will become applicable from FY2025-2026, within six months of May 28, 2025.
This is largely a procedural compliance filing, but it marks an important transition for the company: it is moving from exempt status to being subject to full corporate governance norms due to its growing net worth. Shareholders should expect enhanced disclosures, a secretarial audit, and stricter governance reporting starting FY2025-26.