Olympic Cards Ltd
Board Meeting Outcome for OUTCOME OF BOARD MEETING HELD ON 22-07-2023.
08:09 PM, 22nd Jul 2023
1. The Board discussed and approved the matter of sale of substantially the whole of the undertaking viz. the Fixed Assets including Land Building Plant & Machinery and other assets at the Companys factory property at KannigaiperThiruvallur DistrictTamilnadu at a competitive highest market price to the willing and highest bidder to reduce debts and interest burden and to meet the loan repayment installments on time and to avoid penal interest based on the Special Resolution already passed in the Annual General Meeting of the company.2. The Board discussed the Outstanding pending payments due to the statutory authorities and financial institutions as detailed below:1. Provident Fund - Rs.2224976/-2. Employees State Insurance Corporation - Rs.232949/-3. EPCG Rs. 10688552/- duty and interest for 3 license4. Banks EMI (Total Default)- Rs.1764218/-