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Lotus Eye Hospital and Institute Ltd.

BSE:532998  |  NSE:LOTUSEYEEQ  |  58888:  |  IND:Hospital  |  ISIN code:INE947I01017  |  SECT:Hospitals & Allied Services

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The Company History page lists out the major events in chronological order for Lotus Eye Hospital and Institute Ltd.

Company History - Lotus Eye Hospital and Institute Ltd.
Our Company was originally incorporated as Kalaivani Health Centre Pvt. Limited on 14/03/1997 under the Companies Act, 1956 vide Certificate of Incorporation issued by the Registrar of Companies, Tamil Nadu, Coimbatore. The name of the Company was changed to Lotus Eye Care Hospital Pvt. Limited on 23/01/2006. Our Company was promoted by Dr. S.K.Sundaramoorthy and there is no change in management of the company since inception.

During the financial year 2006-2007, Dr. S.K.S.Eye Care Centre Pvt. Ltd., a company promoted by Dr.S.K.Sundaramoorthy was merged with our Company w.e.f. 01/12/2006 pursuant to order of Hon’ble High Court, Madras dated 09/07/2007.

Scheme of Merger

The High Court of Madras, vide its order dated 09/07/2007 in respect of the company petition (C.P. No: 240/2005 and 241/ 2005) approved the scheme of amalgamation/ merger between the Company and Dr. S.K.S.Eye Care Centre Pvt. Ltd. (SKSECPL), and which at the time of amalgamation was our promoter group company, with effect from 01/12/2006 (Scheme).

Salient features of the Scheme:

Effective Date: 01/12/2006 Date of Approval : 09/07/2007

Details of Valuation: The valuation of immovable property hold by SKSECPL at Peelamedu, Coimbatore is done by M/s Capstone Engineers & Architects, an independent valuer. The said property was valued at Rs.10.60 crores as per the valuation certificate.

The principal terms of the Scheme, as sanctioned by the High Court of Madras, are set forth below: * The whole of the undertaking of SKSECPL comprising its business, all assets and liabilities of whatsoever nature and wheresoever situated was transferred to our Company w.e.f. 01/12/2006.

* All the executives, staff, workmen and other employess in the service of SKSECPL became executive, staff, workmen and other employee of our Company w.e.f. 11/08/2007.

* In consideration of the transfer and vesting of the undertaking of SKSECPL in our Company, each shareholder of SKSECPL has been allotted 588 equity shares of Rs.100/- of our Company each in respect of every 100 equity shares held by them in SKSECPL.

In compliance with the Scheme, the Company allotted 497900 Equity Shares of Rs.100/- each (presently 4979000 equity shares of Rs.10/- each) to the shareholders of erstwhile SKSECPL on 03/08/2007 as detailed below:

Name of the Shareholder Number of shares held in SKSECPL Number of equity share of Rs.100 each allotted in Lotus

Dr S.K.Sundaramoorthy 74677 439100 Sangeetha Sundaramoorthy 10000 588000

Total 84677 497900

Our Company was subsequently converted into public limited company and the name was changed to Lotus Eye Care Hospital Limited on 16/10/2007 and a fresh certificate of incorporation has been obtained from Registrar of Companies, Tamil Nadu, Coimbatore.

Major Events:

We believe that the commissioning of the following hospitals amount to major events in our history:

Year Event

1989

-Opening of hospital at R.S.Puram, Coimbatore. The same was under management of LVRT from 1992 to 2006.

2002

-Opening of hospital at Peelamedu, Coimbatore

2004

-Opening of hospital at Salem

2007

-Opening of hospital at Tirupur

2008

-Lotus Eye Care Hospital got its shares listed on the Exchange in the list of B Group Securities.

2009

-Mr. R Subramanian, Chartered Accountant, Chennai has been appointed as Additional Director of the company.

2012

-Mr. G. R. Karthikeyan and Mr. M. Alagirisamy have been appointed as Additional Directors of the Company.

2013

-The company name has been changed to Lotus Eye Care Hospital Private Limited and the private limited Company becoming public limited company on October 16, 2007. -The Company has changed its name from Lotus Eye Care Hospital Ltd. to Lotus Eye Hospital and Institute Ltd. 2014

-Lotus Eye Hospital And Institute Mulanthuruthy, Ernakulam District was launched.

2016 - Lotus Eye Hospital & Institute Ltd. launched Kerala’s First ReLEx SMILE The Most Advanced Laser Vision Correction was inaugurated by Sri. P.Thilothaman Honourable Minister, Government of Kerala.







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