Renuka Ramnath quits Fortis advisory panel, move may delay sale process

Another source said the process to select a bid for Fortis was likely to be a protracted one

The decision on finalising a buyer for Fortis is going to take longer, as Renuka Ramnath (pictured), a member of the advisory committee to evaluate bids received for it, resigned on Wednesday — a day before the crucial board meeting of the company. 

Ramnath opted out right before the committee was to submit its recommendation to the Fortis board. Sources close to the development said the three-member committee did not meet on Wednesday to evaluate the proposals as Ramnath had already put in her papers. 

Another source said the process to select a bid for Fortis was likely to be