Lotus Eye Hospital And Institute Limited has issued a postal ballot notice for three director appointments, including the reappointment of Dr S Natesan as Independent Director for a second consecutive five-year term. The postal ballot voting process will be conducted exclusively through electronic means (remote e-voting).

Postal Ballot Details

The key details of the postal ballot process are outlined below:

Director Appointments Under Consideration

The postal ballot covers three special resolutions related to director appointments:

Item 1: Continuation of Dr KS Ramalingam as Non-Executive Director

Dr KS Ramalingam's continuation as Non-Executive Director from June 1, 2025, to February 8, 2026, requires shareholder approval. Dr Ramalingam, aged 76, transitioned from Whole-Time Director and CEO to Non-Executive Director on May 30, 2025, following his resignation to focus on expansion plans at Coimbatore Kidney Care Research Limited.

Item 2: Fresh Appointment of Dr KS Ramalingam

A separate resolution seeks approval for Dr KS Ramalingam's fresh appointment as Non-Executive Director from February 9, 2026, with his office liable to determination by retirement of directors by rotation.

Item 3: Reappointment of Dr S Natesan as Independent Director

Dr S Natesan's reappointment as Independent Director for a second consecutive five-year term from January 3, 2026, to January 3, 2031, is being sought through this postal ballot.

Regulatory Compliance and Justification

The appointments comply with Section 110 of the Companies Act, 2013, and Regulation 17(1A) of SEBI LODR 2015. The company has clarified that both stock exchanges BSE and NSE required shareholder approval through special resolution for Dr KS Ramalingam's continuation as Non-Executive Director after his designation change from Whole-Time Director.

Dr S Natesan, a renowned orthopedician from Erode with over 50 years of medical experience, including 20 years in government service and as founder of LKM Hospital, brings valuable healthcare administration expertise to the board. His first term contribution has been deemed valuable for the company's growth, particularly in hospital administration and patient management aspects.

The postal ballot notice has been circulated to shareholders electronically, and the results will be communicated to stock exchanges upon completion of the voting process.

Lotus Eye Hospital and Institute Limited , a healthcare provider specializing in eye care, has been penalized by India's two major stock exchanges for regulatory non-compliance. The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) have each imposed a fine of Rs 2.95 lakh, inclusive of GST, on the company.

Regulatory Violation

The fines were levied due to Lotus Eye Hospital's non-compliance with Regulation 17(1A) of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements (LODR) 2015. This regulation pertains to the composition of the board of directors for listed entities.

Financial Impact

In response to the penalties, Lotus Eye Hospital has stated that there is no material impact on its financial operations. This suggests that the company's day-to-day business activities and overall financial health are not expected to be significantly affected by these fines.

Penalty Details

Compliance Importance

This incident underscores the importance of regulatory compliance for listed companies in India. It serves as a reminder that stock exchanges actively monitor and enforce regulations to maintain market integrity and protect investor interests.

Lotus Eye Hospital will need to address the non-compliance issue to avoid further penalties and ensure adherence to SEBI's listing requirements. Investors and stakeholders may want to monitor the company's future compliance efforts and any potential impact on its governance structure.