Fortis Healthcare Limited has informed the Exchange regarding material litigation filed by Northern TK Venture Pte Ltd., the Promoter shareholder of the Company ( NTK ), against Daiichi Sankyo Company, Limited before the Tokyo District Court in Japan.
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Fortis Healthcare's promoter shareholder, Northern TK Venture Pte Ltd (NTK, an indirect subsidiary of IHH Healthcare), has increased its damages claim against Daiichi Sankyo in a case before the Tokyo District Court. NTK has filed a Petition to Increase Claim, seeking INR 109.3 billion (~JPY 199.8 billion or ~RM 5.7 billion) in losses under its tortious claim, plus JPY 5 million for a separate defamation claim, along with accrued interest. The original claim was JPY 20 billion (~RM 634 million). The case relates to Daiichi Sankyo's alleged interference with NTK's 2018 attempt to acquire Fortis shares through subscription and open offers. The next court hearing is scheduled for July 11, 2025.
This is an ongoing litigation update involving the promoter, not Fortis itself, so direct impact on the company is limited for now. However, the dramatically increased claim size (roughly 9x the original) highlights the significance of the dispute, and any adverse outcome for NTK could indirectly affect the promoter's stake or strategic position in Fortis.