Max Healthcare Institute Limited disclosed that the National Company Law Tribunal (NCLT) in Cuttack has adjourned the hearing on petitions filed by BRS Capital Two Pte. Limited against its subsidiary, Kalinga Hospital Ltd. The next hearing is scheduled for October 29, 2026.

The matter was originally listed for a hearing on September 28, 2026, at 2:30 pm. However, the tribunal could not proceed with the hearing due to a paucity of time. Consequently, the bench deferred the proceedings to late October to allow for further arguments and examination of the case details.

Background of the Litigation

This development follows earlier intimations regarding interlocutory petitions filed by the legal representatives of BRS Capital. The petitions target Kalinga Hospital Ltd., along with other shareholders from whom Max Healthcare acquired a majority equity stake, and the parent company itself.

The litigation stems from disputes related to the acquisition and subsequent management or equity structures involving Kalinga Hospital. Max Healthcare continues to monitor the legal developments closely as part of its regulatory compliance obligations.

Regulatory Disclosure Details

The company submitted this update under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure clarifies specific aspects of the ongoing legal proceedings:

The company received the formal order from the Hon'ble NCLT on September 29, 2026, at 5:45 pm. This information has been hosted on the company's website for public access.

Max Healthcare Institute has issued a postal ballot notice seeking member approval for four special resolutions via remote e-voting. The proposals include the implementation of a performance-linked restricted stock unit scheme and the approval of remuneration for Chairman and Managing Director Abhay Soi.

The company filed the notice under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The ballot covers key governance and compensation matters for eligible employees and senior leadership.

Key Resolutions

The special resolutions require shareholder consent on the following matters:

• Approval of the 'Max Healthcare Institute Limited - Performance Linked Restricted Stock Unit Scheme 2026' and grant of units to eligible employees.
• Grant of performance-linked restricted stock units under the same scheme to eligible employees of subsidiary companies.
• Approval of remuneration payable to Mr Abhay Soi as Chairman and Managing Director.
• Alteration of the Main Objects Clause in the Memorandum of Association.

Voting Timeline

E-voting will be facilitated by MUFG Intime India Private Limited. Members holding shares as of the cut-off date are entitled to vote.

The notice was signed by Dhiraj Aroraa, EVP - Company Secretary and Compliance Officer, and dated September 19, 2026. The disclosure is also hosted on the company's website.