 "Fortis Healthcare")
Fortis Healthcare (FHL) has successfully acquired the ‘Fortis’ trademarks for ₹200 crore after a prolonged legal battle involving its former promoters, Malvinder and Shivinder Singh, their related entities, and Japanese pharmaceutical major Daiichi Sankyo.
The Delhi High Court (HC), in an order dated October 29, 2024, had directed the sale of the Fortis trademarks through a public auction. The trademarks had been attached following a Supreme Court (SC) judgment on September 22, 2022, which made them available to the Delhi HC to satisfy a decree in favour of Daiichi Sankyo. These trademarks were previously held by entities owned and controlled by the company’s former promoters.
FHL said on Wednesday that it emerged as the highest bidder in the public auction with an offer of ₹200 crore and has already deposited 25 per cent of the bid amount.
On March 25, 2025, the Delhi HC confirmed the sale of the Fortis trademark and all associated rights and liabilities in FHL’s favour.
The legal dispute dates back to an arbitral award passed by a Singapore tribunal on April 29, 2016, in favor of Daiichi Sankyo against 20 respondents, including RHC Holding. The award attained finality and was converted into a decree, which is now being executed by the Delhi HC.
RHC Holding was the legal and beneficial owner of the Fortis trademarks and had granted FHL a non-exclusive licence to use them under a brand licensing arrangement. In 2017, RHC Holding transferred all rights in the trademarks to RHC Healthcare Management Services.
In its September 2022 judgment, the SC ruled that all properties belonging to Malvinder and Shivinder Singh — including the Fortis trademark — were available to the Delhi HC for execution. The court confirmed that these properties stood attached and were subject to further directions by the HC.
Daiichi subsequently petitioned the Delhi HC to appoint a court commissioner to oversee the sale of the Fortis trademarks. The HC ordered their auction on October 29, 2024, and appointed a Joint Registrar (Judicial) to facilitate the process. The auction was conducted on December 21, 2024.
“Upon completion of the auction, and during proceedings to confirm the sale of the Fortis trademarks in the company’s favour, RHC Healthcare filed objections regarding the valuation of the trademarks and certain procedural aspects of the auction,” FHL said in a regulatory filing.
On March 25, the Delhi HC rejected RHC Healthcare’s objections and upheld the sale of the Fortis trademark to FHL.
As the rightful owner, FHL can now seek formal transfer of the trademark in the records maintained by the trademark registry, which is required to update ownership in line with legal provisions.
The HC has scheduled the matter for April 16, 2025, before the Joint Registrar for the execution of the sale deed or sale certificate for the Fortis trademarks.
