Free Press Journal
  • SEBI to Fortis Healthcare: Recover Rs 403 cr and interest from promoters

    New Delhi : The Securities and Exchange Board of India ordered Fortis Healthcare Ltd to take all necessary steps to recover Rs 403 crore, along with interest, from its former promoters, Malvinder Mohan Singh and Shivinder Mohan Singh, within three months. The order follows a preliminary investigation into the loans given by the company’s subsidiary Fortis Hospitals Ltd, as part of ‘treasury activities’. The loan was later classified as a related-party transaction

  • Malvinder Mohan Singh told to deposit Rs 17 crore

    New Delhi: The Delhi High Court asked former Fortis Healthcare promoter Malvinder Mohan Singh to deposit Rs 17 crore with the court’s registry by October 10. However, Daiichi Sankyo had sought that the amount be transferred directly to them, an appeal which Singh objected to and instead suggested that the amount be deposited into a fixed deposit account with the court. The court ordered that the amount be deposited with the registry

  • Fortis gets investors’ nod to sell stake to IHH

    New Delhi : Fortis Healthcare on Tuesday said its shareholders have given nod to acquisition of the domestic healthcare chain by Malaysia’s IHH Healthcare.

  • Fortis stake sale to IHH faces roadblock

    New Delhi : In a move that could delay its stake sale to IHH Healthcare, the Delhi High Court on Wednesday issued a notice to Fortis Healthcare on the proposed transaction and asked the company to file a reply within four weeks.

  • Fortis to decide on binding bids tomorrow

    Mumbai : Cash-strapped Fortis Healthcare, which is in the process of finding a new investor, on Wednesday said its board will meet on July 13 to decide on its preferred bidder and consider raising funds through issue of securities on a preferential allotment basis.

  • Fortis probe finds systemic lapses, moves to recover Rs 500 crore from Singh bros

    New Delhi: Fortis Healthcare today said it has initiated legal action to recover about Rs 500 crore of funds allegedly taken out of the company by its founders Malvinder and Shivinder Singh after an external investigation found “systemic lapses and override of controls” in the loan given.

  • Fortis moves to recover Rs 500 cr from Singh bros

    Probe finds systemic lapses, override of controls in loan sanction Under the founders, Fortis had loaned about Rs 500 crore to certain corporate bodies, which subsequently became part of the Singhs’ corporate group.

  • Manipal extends validity of Fortis offer

    New Delhi : Manipal-TPG combine has said it has extended the validity of its modified offer for Fortis Healthcare to June 6, 2018.

  • IHH still keen on Fortis, extends bid validity to May 29

    New Delhi : Malaysian firm IHH Healthcare on Thursday said it has extended the acceptance period of its enhanced revised proposal for Fortis Healthcare to May 29 after which it shall lapse.

  • Liquidity reason for choosing Hero-Dabur bid: Fortis

    Gurgaon : Majority of Fortis Healthcare’s board opted for the Munjals-Burmans offer keeping in mind the certainty and liquidity issues, the company’s director Brian W Tempest said on Friday.

  • Daredevils pledge to donate their organs

    New Delhi : The Delhi Daredevils squad, including Gautam Gambhir, Mohammad Shami and Prithvi Shaw, on Wednesday pledged to donate their organs in an effort to raise awareness around the cause.

  • Munjals-Burmans, IHH raise bid for Fortis Healthcare

    New Delhi : Malaysia’s IHH Healthcare and Munjals-Burmans (combine) on Tuesday revised upwards their offers for Fortis Healthcare ahead of the deadline set by the board of the hospital-chain for submission of binding bids.

  • Fortis receives revised offer from Malaysia’s IHH at Rs 175 per share

     New Delhi: Ahead of the deadline set by Fortis’ board to review all binding offers received till today afternoon, Malaysia’s IHH Healthcare has again revised its proposal and offered to invest directly into the company.  “The company today has received an enhanced revised proposal from IHH to invest directly into the company at a per share price of Rs 175 per share,” Fortis Healthcare said in a regulatory filing.

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