Fortis Healthcare's board forms committee to decide on binding offers

The investors have demanded the appointment of Suvalaxmi Chakraborty and Ravi Rajagopalan on the board

Fortis Healthcare's board of directors on Thursday appointed an expert advisory committee, led by former Price Waterhouse and Coopers & Lybrand Chairman and Chief Executive Officer Deepak Kapoor, to take a call on the two binding offers — one by TPG-Manipal and another by Sunil Munjal (of Hero Enterprise) and the Burman family (of Dabur) — received by Fortis in the past few days. The committee is expected to submit its recommendation to the board on April 26, when the board meets again. 

Fortis clarified it would consider all binding offers that come in by April 25. Standard Chartered Bank, the