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Lotus Eye Care Hospital > Company History > Hospitals & Medical Services > Company History of Lotus Eye Care Hospital - BSE: 532998, NSE: LOTUSEYE
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Lotus Eye Care Hospital

BSE: 532998|NSE: LOTUSEYE|ISIN: INE947I01017|SECTOR: Hospitals & Medical Services
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Company History - Lotus Eye Care Hospital
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 Honble 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 Keralas First ReLEx
 SMILE The Most Advanced Laser Vision Correction was inaugurated by
 Sri. P.Thilothaman Honourable Minister, Government of Kerala.
 
 
 
 
 
 
 
 
Source : Dion Global Solutions Limited
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