MedPlus Subsidiary Faces Drug License Suspensions in Karnataka
Optival Health Solutions, a subsidiary of MedPlus Health Services, received suspension orders for drug licenses at three retail locations in Karnataka. The suspensions, issued by the Assistant Director of Drugs Control Administration, are for three days each and affect stores in Jayanagar, T R Nagar, and Shiggon Haveri. The potential revenue loss from these suspensions is estimated at ₹3.24 lakhs. The company disclosed this information to stock exchanges in compliance with SEBI regulations.
*this image is generated using AI for illustrative purposes only.
Medplus Health Services Limited has informed stock exchanges about regulatory action taken against its subsidiary operations in Karnataka. The company disclosed that Optival Health Solutions Private Limited, a subsidiary of Medplus Health Services, received suspension orders for drug licenses at three retail locations.
Regulatory Action Details
The suspension orders were issued by the Assistant Director, Drugs Control Administration from two different circles in Karnataka. The company received the orders on December 23, affecting stores in strategic locations across the state.
| Parameter | Details |
|---|---|
| Affected Entity | Optival Health Solutions Private Limited |
| Order Receipt Date | December 23 |
| Suspension Duration | Three days each |
| Regulatory Authority | Assistant Director, Drugs Control Administration |
| Legal Basis | Rule 65 of Drugs and Cosmetics Act, 1940 and Rules, 1945 |
Store Locations and Financial Impact
The suspensions affect three stores across different regions in Karnataka, with varying financial implications for each location.
| Store Location | Issuing Authority | Potential Revenue Loss |
|---|---|---|
| Jayanagar 9th Block, Karnataka | Bangalore Circle-3 | ₹2.29 |
| T R Nagar, Karnataka | Bangalore Circle-3 | ₹0.53 |
| Shiggon Haveri, Karnataka | Haveri Circle | ₹0.42 |
| Total Impact | ₹3.24 |
Compliance and Disclosure
The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled its regulatory obligations by informing both BSE Limited and National Stock Exchange of India Limited about the developments.
The violations were reported under Rule 65 of the Drugs and Cosmetics Act, 1940 and Drugs and Cosmetics Rules, 1945, indicating regulatory compliance issues at the subsidiary level. The company has made the complete details available on its website and the respective stock exchange platforms for stakeholder access.
Corporate Structure Impact
The regulatory action affects Optival Health Solutions Private Limited, which operates as a subsidiary under the Medplus Health Services umbrella. The financial impact of the suspensions is estimated at ₹3.24 across all affected stores, highlighting compliance challenges in the company's retail pharmacy operations in Karnataka.
Historical Stock Returns for Medplus Health Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.69% | +2.40% | +2.24% | -7.55% | -1.92% | -26.83% |
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