On 13 June 2018
Fortis Healthcare announced that the scheme of arrangement and amalgamation between the Company, Fortis Malar Hospitals and SRL is currently pending for approval with the National Company Law Tribunal (NCLT), Chandigarh Bench. Further, the entire process was expected to take 6-8 months, however, due to reasons beyond the Company's control, the process has taken over 19 months and is still not complete.Further, the company had at its meeting held on 28 May 2018 and further adjourned to 29 May 2018 has decided to initiate a fresh, time-bound process to optimize the Company's and shareholders' short and long-term interests.
Consequently, the Board of the company on 13 June 2018 has approved the withdrawal of the Scheme, subject to the approval of the NCLT.
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