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Lotus Eye Hospital and Institute Ltd. Company History and Annual Growth Details

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

* 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

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

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


- Lotus Eye Care Hospital Ltd has informed BSE that Mr. R Subramanian, Chartered Accountant, Chennai has been appointed as Additional Director and also appointed as Audit Committee Chairman of the Company in place of Mr. G R Sundaravadivel with effect from January 09, 2009.
Oct 21, 12:00 am
Oct 21, 4:14 pm
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