Max Healthcare subsidiaries get tribunal approval for merger

The National Company Law Tribunal, Chandigarh Bench, approved the Scheme of Amalgamation between Crosslay Remedies Limited and Jaypee Healthcare Limited, both wholly-owned subsidiaries of Max Healthcare Institute Limited. The order, dated November 7, 2025, sanctions the merger with an appointed date of October 5, 2024. The boards of directors initially approved the merger on March 21, 2025.

Upon the scheme's effectiveness, all assets, liabilities, and proceedings of Crosslay Remedies will transfer to Jaypee Healthcare, and Crosslay Remedies will be dissolved. The amalgamation aims to offset cash losses at the merged entity and generate funds for expansion. Jaypee Healthcare had a balance of INR 3,392 Lakhs in cash and cash equivalents as of March 31, 2025, according to audited balance sheets.

The statutory auditors confirmed that the accounting treatment for the amalgamation complies with applicable Indian Accounting Standards. The combined authorized share capital of Jaypee Healthcare will be INR 7,57,00,00,000, divided into 74,40,00,000 equity shares of Rs. 10/- each and 1,30,00,000 preference shares of Rs. 10/- each.