The Company was originally incorporated as Advaita Allied Health Services Limited on January 23, 2019 as a Wholly-Owned Subsidiary (WOS) of Erstwhile Max India Limited. Pursuant to Composite Scheme o
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f Amalgamation and Arrangement amongst Erstwhile Max India Limited (since dissolved), Max Healthcare Institute Limited, Radiant Life Care Private Limited and the Company (formerly known as Advaita Allied Health Services Limited) and their respective shareholders and creditors, under Sections 230 to 232 read with Section 66 and other applicable provisions of the Companies Act, 2013 becoming effective on June 01, 2020, the Allied Health and Associated Activities Undertaking as defined under the Composite Scheme was demerged from the erstwhile Max India Limited and vested into the Company with effect from the Appointed Date of the Composite Scheme i.e., February 1, 2019. The Company obtained a fresh Certificate of Incorporation on July 1, 2020, subsequent to the change of its name and is now renamed as Max India Limited.
Max India is a multi-business corporate that is focused on people and service oriented businesses in the area of health and life care. The Company is engaged in the activity of making, holding and nurturing its investments in various businesses/ activities and also provides management consultancy services to group companies. Max India is now the Holding Company of Max Group's Senior Care business, Antara, an integrated service provider for all senior care needs. It operates across two lines of businesses - Assisted Care services, including Care Homes, Care at Home and MedCare, and independent Residences for seniors. This line of business cater to seniors over the age of 55, who need more immersive interventions in their daily lives due to medical or age-related issues.
Antara's first residential community in Dehradun consists of around 180 apartments spread across 14 acres of land. In January 2020, Antara launched a new senior living facility in Noida, Sector-150. With 340 apartments in its first phase of development, it caters to the health-related, wellness, social, recreational, and educational needs of seniors and will be ready for possession by 2024.
The Max Group is credited with successfully forging and nurturing strong and fruitful business relationships with several leading global companies. The Group attracted the best global companies as business partners. The Group succeeded in merging partners' expertise with its own experience, knowledge and attributes to emerge as a quality leader in all spheres of businesses. The Max Group has current partnerships with Mitsui Sumitomo, Japan and Toppan, Japan for its Life Insurance and Speciality Films businesses respectively and with New York Life for Max India and MaxVIL. These partnerships have consistently grown, developed, and matured into strong relationships.
Max Group was the winner of the Top 25 Brands with Best In-house Comms Professionals in 2021. Antara's Campaign - Senior Care Recognizing India's other Demographic Dividend - along with Company's PR agency On Purpose, was recognized by e4m as one of the top 25 PR campaigns of 2021. The Company received the Porter Prize 2014. The Prize evaluates companies based on value creation, innovation and strategy. Max India's Annual Report 2012-13 is rated '18th Best Annual Report in the World'. The Company was Felicitated with the Platinum category in LACP's Annual Report Competition, 2012-13 Vision Awards. Max India's was recognized in the Silver Category at LACP Awards. Max India was awarded the Midas Certificate.
The Board of Directors of the Company in its meeting held on June 22, 2020, had approved the proposal to make Antara Assisted Care Services Limited (AACSL), a direct subsidiary of the Company, subject to fulfillment of the terms and condition of the share sale and purchase agreement executed between Antara Senior Living Limited (ASL) (Holding Company of AACSL) and the Company. Post fulfillment of all such terms and conditions, ASL transferred all equity shares of AACSL to the Company and therefore, AACSL became a direct subsidiary of the Company effective from July 2, 2020.
The Company issued and allotted 53,786,261 Equity Shares of Rs. 10/- each on June 22, 2020 to the Shareholders of erstwhile Max India Limited as on the Record Date i.e. June 15, 2020 in exchange of 26,89,31,305 Shares of Rs. 2/- each being held by them in the erstwhile Max India.
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