Fortis Healthcare Limited has informed the Exchange regarding 'Update on SRL Trademarks'.
FORTIS · price
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Awaiting price reaction for this filing.
The Delhi High Court has confirmed the public auction sale of the 'SRL' trademarks, which were attached as part of a decree in favour of Daiichi Sankyo against Fortis's erstwhile promoters (Malvinder and Shivinder Mohan Singh). Agilus Diagnostics, a subsidiary of Fortis Healthcare, emerged as the successful bidder at INR 8 crores and has already deposited the full amount with the court. The court has now allowed Daiichi's application to confirm the sale and withdraw the deposited money. No financial penalty or compensation falls on Fortis Healthcare itself, as the decree is against the former promoters, not the company.
This is a positive development for Fortis Healthcare — its subsidiary Agilus now legally owns the SRL trademarks for just INR 8 crores, bringing closure to a long-running legal saga linked to the previous promoters. Shareholders can expect cleaner branding clarity for the diagnostics business, with no direct financial burden on the company.