|
| Exchange Received Time 13/06/2018 23:15:55 Exchange Disseminated Time 13/06/2018 23:16:00 Time Taken 00:00:05 | This is with reference to our letters dated August 19, 2016 and April 28, 2017 intimating the approval of the board of directors ('Board') and shareholders of Fortis Healthcare Limited ('Company'), respectively, in relation to the composite scheme of arrangement and amalgamation between the Company, Fortis Malar Hospitals Limited ('FMHL'), SRL Limited ('SRL') and their respective shareholders and creditors under Sections 230 to 232 of the Companies Act ('Act') (erstwhile Sections 391-394 of the Companies Act, 1956), read with Section 52 and Section 66 of the Act (erstwhile Sections 100 to 103 of the Companies Act, 1956) ('Scheme').
The Scheme is currently pending for approval with the National Company Law Tribunal ('NCLT'), Chandigarh Bench. Further, the entire process was expected to take 6-8 months, however, due to reasons beyond the Company's control, the process has taken over 19 months and is still not complete. During this period of 19 months (a) healthcare sector has witnessed
|
|
|