Fortis Healthcare Share price

The Company was incorporated on February 28 1996 as Rancare Limited under the Companies Act. Subsequently on June 20 1996 our name was changed to our present name-Fortis Healthcare Limited. The Company received the certificate of commencement of business on July 1 1996.Changes in Registered Office:The registered office of the Company was initially situated at 25 Nehru Place New Delhi 110 019 India. Pursuant to a Board resolution dated September 16 2003 the registered office was shifted to B- 9 Maharani Bagh New Delhi 110 065 India. Subsequently pursuant to Board resolution dated February 10 2006 the registered office of the Company was shifted to Piccadily House 275- 276 4th Floor Captain Gaur Marg Srinivas Puri New Delhi 110 065 India which is the current RegisteredOffice.Scheme of merger/amalgamation between Fortis Medical Centre Holdings Limited and the Company dated October 7 2005:The High Court of Delhi through its order dated October 7 2005 in respect of the company petition (C.P. No: 240/2005 and 241/2005) approved the scheme of amalgamation/merger between the Company and Fortis Medical Centre Holdings Limited (?FMCHL?) and which at the time of amalgamation was our board controlled subsidiary with effect from April 1 2004(?Scheme?).Salient features of the Scheme:The principal terms of the Scheme as sanctioned by the High Court of Delhi are set forth below: The entire undertaking and business all properties tangible and intangible assets including trademarks patents design copyrights investments approvals licenses tax benefits pending projects debts liabilities and obligations including income tax liabilities accrued or to accrue in FMCHL was transferred to the Company with effect from April 1 2004. Pursuant to the Scheme Fortis Hospital Amritsar was transferred to the Company. However the transfer of the aforesaid was subject to the existing charges or hypothecation in respect of the assets of FMCHL.All the staff workmen and employees of FMCHL in employment on the date immediately preceding December 23 2005 (i.e. the date on which a certified copy of the order of the High Court of Delhi was filed with the RoC) became the employees of the Company without any break or discontinuity in service and on conditions not less favourable than those subsisting at FMCHL.In consideration of the transfer and vesting of the undertaking and the assets and liabilities of FMCHL and in consideration of the mutual covenants agreed to in the Scheme the Company agreed to allot the Equity Shares to the existing shareholders of FMCHL in the ratio of 1:4 (i.e. one Equity Share in exchange of every four equity shares of FMCHL of Rs. 10 each).In compliance with the Scheme the Company allotted 520000 Equity Shares to the shareholders of erstwhile FMCHL on February 10 2006.Major Events:Year EventJune 2001 Commissioning of Fortis Hospital Mohali.August 2003 Inauguration and commissioning of Fortis Hospital Amritsar.October 2003 Executed an agreement with Seth Jessa Ram and Bros Charitable Hospital Trust for the operation and management of Jessa Ram Hospital New Delhi.August 200 Commissioning of Fortis Hospital Noida.September 2005 Acquired 90% of the equity share capital of Escorts Heart Institute and Research Centre Limited resulting in the acquisition of EHCL EHSSIL EHSSHL and EHRCL.October 2005 Signed an agreement with Jeewan Mala Hospital Private Limited for the operation and maintenance of Jeewan Mala Hospital New Delhi.January 2006 Signed an agreement with Sunrise Medicare Private Limited for the operation and management of Fortis La Femme New Delhi and acquisition of 5% equity interest in Sunrise Medicare Private Limited with an option to acquire additional equity shares.January 2006 Signed an agreement with Khalil Public Welfare Trust for the operation and maintenance of Khyber Medical Institute Srinagar.March 2006 Acquired 99.99% of the paid up equity share capital of International Hospital Limited resulting in the acquisition of Fortis Hospital Noida.March 2006 Acquired 100.00% of the paid up equity share capital of Oscar Bio-Tech Private Limited.