Max Healthcare Institute Limited announced the formal dissolution of its step-down wholly-owned subsidiary, ET Planners Private Limited. The dissolution was finalized following an order issued by the National Company Law Tribunal (NCLT) on March 25, 2026. The process involved the entire business undertaking being distributed to the shareholder, Alps Hospital Limited, on a going concern basis. The company confirms this action will have no material impact on its current business operations or financials.
Subsidiary Voluntary Liquidation Finalized
Max Healthcare Institute Limited has confirmed that its subsidiary, ET Planners Private Limited, has been officially dissolved. This conclusion follows the successful completion of voluntary liquidation proceedings initiated under the Insolvency and Bankruptcy Code, 2016. The final order sanctioning the dissolution was passed by the Hon’ble National Company Law Tribunal (NCLT), New Delhi Bench, on March 25, 2026.
Key Steps in Liquidation
The process commenced following a Board resolution approved on September 6, 2024, and a subsequent Special Resolution passed during the Extra-ordinary General Meeting on September 11, 2024, which also appointed Ms. Sunita Umesh as the Liquidator. A critical element of the process involved distributing the entire business undertaking—comprising all assets, liabilities, and contracts—to the shareholder, Alps Hospital Limited, on a going concern basis.
The Liquidator confirmed that creditor claims, totaling Rs. 41,72,45,487/-, were settled via a No Objection Certificate (NOC) provided for the business transfer. Furthermore, statutory compliances, including obtaining a No Objection Certificate from the Income Tax Department (dated October 10, 2025), were completed, and a Final Report was submitted.
Impact Assessment
The management has asserted that upon scrutiny, the affairs of ET Planners Private Limited were not conducted in a manner prejudicial to the interests of its members. Crucially, the company states that the liquidation of this subsidiary will not affect any existing business or accounting policies and will not result in any material financial impact on the operations of Max Healthcare Institute Limited.
Source: BSE
