Teena Thacker

India’s Fortis Healthcare asks Sebi to order arrest of former promoters

In its 13 February petition, Fortis asked the regulator to invoke Section 28 A, under which a person can be arrested and held in prison.

Fortis fraud may exceed $280m, says India’s fraud investigation office

Sebi has already passed an order against Fortis to recover ₹500 crore from the Singh brothers for funds diverted to the promoter and promoter-related entities in December.

Fortis wants to make parting of ways with Singh brothers official

Fortis has filed an application with the Securities and Exchange Board of India for de-promoterisation of Singh brothers as it has “severed” all links with them.

India: Fortis Healthcare appoints Ashutosh Raghuvanshi as CEO

Raghuvanshi replaces Bhavdeep Singh, who resigned from the troubled hospital chain in November.

India: Sun Pharmaceutical acquires Japanese drugmaker Pola for $1m

The acquisition is in line with Sun Pharma’s strategy to strengthen its global dermatology presence.

Fortis Healthcare CEO Bhavdeep Singh quits ahead of board makeover

The Fortis board is expected to meet next week to appoint representatives from Malaysia’s IHH Healthcare.

India: Competition watchdog CCI may approve Fortis-IHH deal by October-end

Following the CCI approval, IHH could pick up a controlling stake in Fortis by infusing around Rs4,000 crore for equity shares at Rs170 apiece.

India: IHH Healthcare, TPG-Manipal submit fresh bids for Fortis acquisition

TPG-Manipal, which had earlier agreed to pay Rs 180 per share, may have lowered its bid.

India: Bidding war for Fortis intensifies as Malaysia’s IHH, Munjal-Burmans revise offer

Malaysia’s IHH Healthcare Bhd. on Tuesday revised its offer to Rs175 per share from its earlier offer Rs160 per share, which it made on 24 April.

Ranjan Pai tops India’s most successful entrepreneurs list with Fortis-Manipal deal

On Tuesday, the board of Manipal Education approved the merger of its hospital assets with that of Fortis Healthcare.