BSEMediumNeutral
Announced Mon, 5 May · 20:36 IST

A detailed disclosure is attached

Business Updates View source PDF
Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

Fortis Healthcare informed that its material subsidiary, Fortis Hospitals Limited, received a Rectification Order under Section 154 read with Section 143(3) of the Income Tax Act, 1961 for Assessment Year 2022-23. A previous Income Tax demand of Rs. 89.53 Crores raised by the tax department has been rectified and reduced to Rs. Nil. The company has stated there is no financial, operational, or other impact from this development. The event was reported on May 05, 2025.

Likely market impact

Positive for shareholders — a potential tax liability of nearly Rs. 90 Crores on a subsidiary has been fully nullified, removing a contingent liability and strengthening the group's overall financial position.