Page 6 - Fortis Healthcare

Fortis board meets today, IHH emerges front runner to buy controlling stake

The possible acquisition will allow the IHH to expand its footprint across the country

Fortis board to meet on July 13 to consider fund raising

Fortis did not disclose details of the quantum of funds to be raised

Wanted: A nurse for 'patient' Fortis Healthcare who won't kill it

Before any new ailments are diagnosed for the auditor to have to change that opinion, the patient needs to find new caregivers

Auditor Deloitte raises red flag over Fortis Healthcare's financial results

The Fortis board had commissioned law firm Luthra & Luthra to look into alleged financial irregularities

Fortis Board unable to determine if fraud has occurred, says auditor

Independent auditor of the Fortis Healthcare, Deloitte Haskins & Sells LLP today said the Board of Fortis Healthcare are unable at present to determine whether a fraud has occurred on the company. "At this juncture the Board of Directors of the company are unable to make a determination on whether a fraud has occurred on the company in respect of the matters covered in the investigation by the external legal firm...," the auditor said in its report. This is considering the limitations on the information available to the external legal firm and their qualifications and disclaimers as described in the investigation report, it added. Fortis Healthcare had earlier said that markets regulator Sebi has ordered a forensic audit in the matter of the company, which has admitted to systemic lapses in giving Rs 494.14 crore loans to firms controlled by erstwhile promoters -- Malvinder and Shivinder Singh. The company, on June 27, had said that it had initiated legal action to recover the ...

No change in audited results, strengthening governance: Fortis Healthcare

For 2017-18, the company posted a net loss of Rs 9.34 billion

Fortis Healthcare denies granting brand ownership to Dehradun firm

Participation Finance took RHC Holding-the promoter group holding company-along with Fortis and other related parties to the court

IHH, TPG-backed Manipal Health Enterprises in last lap for Fortis buy

Munjal-Burman, KKR-backed Radiant exit the race

Munjal-Burman backs out from Fortis bidding; IHH, Manipal-TPG in fray

While Malaysia's IHH Healthcare stated that it has put in binding bid, sources said Manipal-TPG combine have also put in their bid

Fortis Healthcare management charts recovery plan amid financial crisis

The silver lining is that despite losses, the consolidated Ebitda for the full year grew 7.4 per cent to Rs 3.89 billion

Fortis Healthcare management defers date for submission of bids to July 3

Four bidders are expected to submit their bids - Sunil Munjal-Anand Burman combine, Manipal Group-TPG consortium, IHH Healthcare and Radiant Life Care

Fortis Healthcare initiates recovery of funds from Singh brothers

Probe reveals lapses in loans given to entities linked to Malvinder-Shivinder

Bids for Fortis may be revised downwards after ownership controversy

Four bidders are expected to submit their bids - Sunil Munjal-Anand Burman combine, Manipal Group-TPG consortium, IHH Healthcare, and Radiant Life Care

Fortis probe finds systemic lapses, to recover Rs 5 bn from Singh brothers

Fortis Hospitals had deployed funds to the tune of Rs 4.73 billion as secured short-term investments to group firms of its promoters

Fortis Healthcare Q4 loss widens to Rs 9.3 bn, firm starts recovery process

The company has started the process of recovering payments made to Malvinder Singh as per his letter of appointment as lead for strategic initiatives

Fortis Q4 loss widens to Rs 9.32 bn on impairment charges amid bidding war

Net loss for the year-ago quarter was Rs 638 million

Singh brothers demand dues write-off in lieu of Fortis brand

The rights to the 'Fortis' name and logo are owned by RHCHPL, a promoter group company. FHL uses the name and logo under an exclusive licence for the health care delivery business.

Malvinder Singh's contract under Fortis Healthcare board scanner

While Singh has tendered his resignation as a director of the board, he continues to be an employee of Fortis, and is thus entitled to receive the Rs 120 million per annum remuneration

NCLT allows Fortis to withdraw 'arrangement and amalgamation' scheme

FHL informed BSE in a filing, that its board has decided to withdraw the 'arrangement and amalgamation between the company, Fortis Malar Hospitals, SRL and their respective shareholders and creditors

Fortis scraps SRL, Fortis Malar merger scheme citing headwinds in sector

The scheme is currently pending for approval with the National Company Law Tribunal (NCLT), Chandigarh bench