 "IHH Healthcare makes open offer for Fortis Malar at Rs 60 per share")
The Supreme Court has refused to lift the block on completion of the takeover of embattled hospital chain Fortis Healthcare Ltd. by Malaysian operator IHH Healthcare Bhd, the latest twist in one of the country’s most contentious and long drawn out corporate battles.
The court held Fortis’ founders -- Malvinder Singh and Shivinder Singh -- guilty of contempt of court and said it could start similar proceedings against the company, according to a judgment Friday. This effectively halts IHH’s open offer to Fortis shareholders that would have brought its holdings in India’s second largest hospital company above 50%. IHH is
