The National Company Law Tribunal (NCLT), Hyderabad Bench, has given its approval for the amalgamation of Medinova Diagnostic Services Limited with Vijaya Diagnostic Centre Limited. This significant corporate action in the diagnostic services sector was sanctioned on October 13, 2025, with an appointed date of April 1, 2024.

Key Details of the Amalgamation

• Share Exchange Ratio: Shareholders of Medinova will receive 1 equity share of Vijaya Diagnostic Centre for every 22 shares held.
• Cancellation of Existing Shares: Vijaya Diagnostic Centre, which currently holds a 62.14% stake in Medinova, will see its shares in the transferor company cancelled.
• Dissolution: Medinova Diagnostic Services Limited will be dissolved without going through the winding-up process.

Strategic Rationale

The amalgamation aims to achieve several strategic objectives:

1. Consolidation of business operations
2. Creation of synergies between the two entities
3. Reduction in operational costs
4. Improvement in overall operational efficiency within the diagnostic services sector

Both companies are listed entities engaged in providing comprehensive diagnostic services, including pathological investigations, radiology, and nuclear medicine.

Regulatory Compliance and Safeguards

The NCLT order includes several directives to ensure regulatory compliance and protect stakeholders' interests:

• The transferee company (Vijaya Diagnostic Centre) is required to comply with all applicable laws and will not be absolved from any statutory liabilities.
• All legal proceedings pending against Medinova will be continued against Vijaya Diagnostic Centre.
• The scheme does not exempt the companies from payment of stamp duty, taxes, or any other charges payable under the law.
• The transferee company must file annual statements certified by a professional, confirming compliance with the scheme.

Employee Protection

The order specifies that all staff, workmen, and employees of Medinova who are in service on the effective date will become employees of Vijaya Diagnostic Centre. Their terms of employment are to be no less favorable than their current conditions, ensuring job security and continuity of service.

Financial Implications

While specific financial details were not provided, the amalgamation is expected to lead to cost savings through more focused operational efforts, simplified business processes, and rationalization of administrative expenses.

Effective Date

The scheme becomes effective upon filing with the Registrar of Companies. The companies are directed to deliver a certified copy of the order to the Registrar within 30 days of receipt.

This amalgamation marks a significant development in India's diagnostic services landscape, potentially creating a stronger, more efficient entity better positioned to serve patients and compete in the market.

Vijaya Diagnostic Centre Limited has announced the resignation of a key executive, marking a significant change in its leadership team.

Executive Departure

V. Siva Rama Raju Vegesna, Vice President of Operations at Vijaya Diagnostic Centre, has tendered his resignation citing personal reasons. The company has accepted his resignation, which will take effect on November 8, 2025, at the close of business hours.

Tenure and Contributions

Mr. Vegesna has been an integral part of Vijaya Diagnostic Centre for over six years, serving as a member of the Management Team at the Group Level. During his tenure, he played a crucial role in several key areas:

• Strengthening the company's investor relations
• Supporting strategic initiatives
• Assisting in the company's expansion into new markets

Company's Statement

In an official statement, Vijaya Diagnostic Centre expressed its appreciation for Mr. Vegesna's service:

"The Board and Management place on record their sincere appreciation of his dedicated service, professional acumen, and valuable guidance extended to the organization over the years. The Company conveys its best wishes to him for good health, happiness, and continued success in all his future endeavours."

Transition Period

With the announcement made well in advance, Vijaya Diagnostic Centre has approximately a year to manage the transition. This period may allow the company to search for a suitable replacement or restructure the role as needed.

Market Impact

As of now, the company has not announced any immediate plans for succession or the potential impact on its operations. Investors and stakeholders will likely be watching closely to see how Vijaya Diagnostic Centre manages this transition in its executive team.

Stakeholders are advised to monitor further announcements from the company regarding any updates on this matter or potential changes in the operational structure.