Proceedings of NCLT convened meeting
Awaiting price reaction for this filing.
Medinova Diagnostic Services held an NCLT-ordered meeting of its equity shareholders on April 25, 2025 via video conferencing to consider and vote on a Scheme of Amalgamation with Vijaya Diagnostic Centre Limited (Transferee), where Medinova is the Transferor Company. The meeting was chaired by Ms. Syeda Adiba Fatima (Advocate, appointed by NCLT Hyderabad Bench), with Ms. Padmaja Kalyani acting as Scrutinizer. Remote e-voting ran from April 21 to April 24, 2025, and the meeting concluded at 11:30 AM with the voting results to be declared and submitted to stock exchanges later by the Company Secretary. Management told shareholders that the scheme's rationale, benefits, and impact were explained and assured them that their interests would remain protected. No swap/exchange ratio details or voting outcome figures are disclosed in this filing — only that the resolution on the amalgamation was put to vote.
If approved by shareholders and subsequently sanctioned by NCLT, Medinova will be absorbed into Vijaya Diagnostic Centre, meaning Medinova shareholders will become shareholders of Vijaya Diagnostic. Until the voting result and swap ratio are announced, the stock could see uncertainty; a favourable approval with a fair swap ratio could be positive, while the reverse could pressure the share price.