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Max Healthcare subsidiaries ALPS and SCHL decide to withdraw scheme

Consequent to the investment made by ALPS for the acquisition of 100% stake in ET Planners on August 27, 2021, and change in the business plan going forward, the Board of ALPS and SCHL have come to this decision.

November 30, 2021 1:15 IST | India Infoline News Service
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Max Healthcare Institute Limited wholly-owned subsidiaries ALPS Hospital Limited (ALPS) and Saket City Hospitals Limited (SCHL), at their board meetings, held on November 29, 2021, have decided to withdraw the Scheme of Amalgamation, subject to necessary regulatory and other applicable approvals.

The company had intimated on March 26, 2021, regarding approval by the Board of the Directors of ALPS and SCHL with respect to the Scheme of Amalgamation. Afterward, ALPS and SCHL had filed Scheme with the National Company Law Tribunal (NCLT), Mumbai Bench.
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Consequent to investment made by ALPS for acquisition of 100% stake in ET Planners Pvt Limited on August 27, 2021 and change in business plan going forward, the Board of ALPS and SCHL, at their meetings held today i.e. November 29, 2021 have decided to the withdraw the Scheme, subject to necessary regulatory and other applicable approvals.

At around 1.19 pm, Max Healthcare Institute Ltd was trading at Rs375 per piece up by Rs1.25 or 0.33% from its previous closing of Rs373.75 per piece on the BSE.

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