MedPlus Health Services Limited has informed stock exchanges about a regulatory action affecting its subsidiary operations. The company disclosed that Optival Health Solutions Private Limited, a wholly-owned subsidiary, received a drug license suspension order from Karnataka's drug control authorities.

Regulatory Action Details

The suspension order was issued by the Assistant Director, Drugs Control Administration, Hubli Circle, Hubli, Karnataka. The action specifically targets a store situated at Kalyan Nagar, Dharwad, Karnataka, with the suspension effective for three days.

Legal Framework and Violations

The suspension has been imposed under Rule 65 of the Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945. This regulatory framework governs the licensing and operation of pharmaceutical retail establishments across India.

Financial Impact Assessment

The company has quantified the potential financial impact of this regulatory action. MedPlus Health Services estimates a potential revenue loss of Rs 0.66 lacs due to the three-day suspension of operations at the affected store.

Compliance and Disclosure

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI circulars dated July 13, 2023, and December 31, 2024. The information has been made available on the company's website and will also be accessible through BSE and NSE platforms.

This regulatory action represents a localized operational challenge for the pharmacy chain, affecting one store within its extensive retail network across multiple states.

MedPlus Health Services Limited has successfully concluded its postal ballot process, with shareholders overwhelmingly approving material related party transactions with its subsidiary. The company announced the results on March 27, 2026, following the completion of the remote e-voting process that concluded on March 26, 2026.

Postal Ballot Results Overview

The shareholders approved the ordinary resolution for material related party transactions between MedPlus Health Services Limited and Optival Health Solutions Private Limited, its material subsidiary. The resolution was deemed passed on March 26, 2026, the last date specified for e-voting.

Voting Statistics and Participation

The postal ballot witnessed significant participation from institutional investors, while promoter group abstained from voting due to their interest in the transaction. The voting was conducted entirely through remote e-voting facility provided by KFin Technologies Limited.

Scrutinizer's Report and Process

Mrs. Rashida Hatim Adenwala, Practising Company Secretary (Membership No. F4020), was appointed as the scrutinizer to oversee the voting process. The scrutinizer's report confirmed that out of 48,173,757 total votes cast, 47,564,070 were valid votes, with 47,563,746 votes (99.9993%) in favour and only 324 votes (0.0007%) against the resolution.

The voting process was conducted in compliance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Regulations. A total of 609,687 votes were marked as invalid due to being cast by related parties, and 14,929 abstain votes were recorded.

Corporate Governance and Compliance

The postal ballot notice was initially dated January 30, 2026, with the company intimating stock exchanges on February 24, 2026. The entire process was conducted electronically, with the postal ballot notice sent via email to registered shareholders on February 24, 2026.

The company disclosed that the promoter/promoter group had an interest in the resolution, which explains their abstention from voting. This approach ensures compliance with corporate governance norms regarding related party transactions and maintains transparency in the approval process.

The results have been made available on the company's website at www.medplusindia.com and on the websites of BSE Limited and National Stock Exchange of India Limited, ensuring broad accessibility to all stakeholders.