Lotus Eye Hospital And Institute Share price

Our Company was originally incorporated as Kalaivani Health Centre Pvt. Limitedon 14/03/1997 under the Companies Act 1956 vide Certificate of Incorporationissued 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 companypromoted by Dr.S.K.Sundaramoorthy was merged with our Company w.e.f. 01/12/2006pursuant to order of Hon?ble High Court Madras dated 09/07/2007.Scheme of MergerThe High Court of Madras vide its order dated 09/07/2007 in respect of the companypetition (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 effectfrom 01/12/2006 (Scheme). Salient features of the Scheme:Effective Date: 01/12/2006Date of Approval : 09/07/2007Details of Valuation: The valuation of immovable property hold by SKSECPL at PeelameduCoimbatore 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 forthbelow: * The whole of the undertaking of SKSECPL comprising its business all assets and liabilitiesof 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 SKSECPLbecame 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 ourCompany 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 LotusDr S.K.Sundaramoorthy 74677 439100Sangeetha Sundaramoorthy 10000 588000 Total 84677 497900Our 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 ofincorporation 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 inour history:Year Event1989 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 Coimbatore2004 Opening of hospital at Salem2007 Opening of hospital at Tirupur