Olympic Cards Repays ₹8.4 Cr HDFC Loan with Director Funding

Olympic Cards Limited has fully repaid its outstanding bank loan of ₹8.40 Crores from HDFC Bank. The company has secured interest-free unsecured loans from its directors: ₹4.00 Crores from Managing Director Mr. N. Mohamed Faizal and ₹4.40 Crores from Non-Executive Director Mrs. S. Jarina. These transactions have been reviewed and approved by the Audit Committee and Board of Directors, ensuring compliance with the Companies Act, 2013, and are conducted at arm's length in the ordinary course of business. The company is in the process of obtaining a 'No Due Certificate' and releasing charges on its assets.