Medi Assist Dividend - Bonus Issue

RECOMMENDATION

Neutral

Business Type

Dominant Leader

Management

Accounting Practice

Profitability

Solvency

Growth

Valuation

RATING

RECOMMENDATION

Neutral

Business Type

Dominant Leader

No upcoming dividends are available.

No past dividends are available.

No upcoming corporate actions available.

Corporate Action	Corporate Action Description	Ratio	Date
Bonus Issue	Bonus issue in the ratio of 925 Equity Shares for every 1 Equity Share held on the record date, i.e. April 7, 2021	925:1	April 9, 2021
Stock Splits	The company has sub- divided its authorised share capital, such that 45,350,000 Equity Shares of ₹ 10 each aggregating to ₹ 453,500,000 were sub-divided and reclassified as 90,700,000 Equity Shares o…	1:2	April 7, 2021
Demerger	The company has proposed for demerger of the consumer facing health and wellness division of the company into Mandala.	-	Aug. 13, 2019

No Upcoming announcements available.

No past announcements available.

Legal Orders	Reference	Announced On
As per income tax assessment order, the Assessing Officer has disallowed under section 40(a)(ia) on payments made to various hospitals during the financial year 2007-08 and 2008-09 totalling to ₹ 118.92 million and ₹ 964.75 million respectively and accordingly raised a demand of ₹ 29.71 million and ₹ 435.25 million under section 143(3) of the Income Tax Act respectively. The Company filed an appeal against these above orders as the payments to hospitals were made from the funds received from insurance companies were an advance and all payments were adjusted against the advance received. The payments were not claimed as an expenditure, hence, these cannot be disallowed under said section. The Subsidiary received favorable orders from Commissioner of Income Tax (Appeals) on August 8, 2012, Income Tax Appellate Tribunal on December 10, 2014, and the High Court on November 30, 2015. However, the income tax department has filed an appeal with the Supreme Court of India. Page 24	Download	Oct. 6, 2016