Max India Ltd has informed BSE regarding outcome of the Court Convened Meeting of Equity Shareholders on the Composite Scheme of Arrangement. In this regard the Company has issued a Press Release on the aforesaid matter. The proposed Scheme of Arrangement ('Scheme') between the Max India Limited ('the Company'), Taurus Ventures Limited and Capricorn Ventures Limited and their respective Shareholders and creditors. Pursuant to the order of Hon'ble High Court of Punjab and Haryana at Chandigarh, the court convened meeting of shareholders of the Company was held on July 4, 2015 at 11:00 A.M. at the Registered Office of the Company at Bhai Mohan Singh Nagar, Railmajra, Tehsil Balachaur, District Nawanshahr, Punjab - 144 533. Three holding companies will be listed upon completion of the demerger. a) The existing company, Max India Limited, will be renamed Max Financial Services Limited' (MFS) and will focus solely on the Group's flagship life insurance activity, through its subsidiary Max Life Insurance, in which it will hold 72% shareholding, making it the first Indian listed company exclusively focused on life insurance. b) The second listed company will be named Max India Limited, and will continue to manage investments in the high potential sector of Healthcare and allied businesses. It will have three subsidiaries - Max Healthcare, Max Bupa and Antara Senior Living. The demerger will provide these businesses, which are currently in their growth and development phase, sharpened focus to fulfil their tremendous growth and value potential. c) The third listed company will be named Max Ventures and Industries Limited (MVIL) and will house the Group's manufacturing subsidiary, Max Speciality Films - an innovation leader in the Speciality Packaging Films business. In addition, MVIL will also leverage the platform provided by the Prime Minister's Make in India' initiative and will explore fresh ideas for new ventures in the wider world of business'. Once the restructuring scheme is effective, after due regulatory approvals, Max India's existing shareholders will retain one equity share of Rs 2/- in Max Financial Services Limited. They will additionally get one equity share of Rs. 2/- each of the new company Max India Limited for every one equity share held in Max Financial Services and one equity share of Rs. 10/- each of Max Ventures and Industries Limited for every 5 equity shares held in Max Financial Services. Max India Ltd has informed BSE about approval of Scheme of Arrangement by Punjab and Haryana High Court. (As per BSE Announcement dated on 28.12.2015)