Relevant Disclosure is attached.
Awaiting price reaction for this filing.
Fortis Healthcare's promoter Northern TK Venture Pte Ltd (NTK), an indirect subsidiary of Malaysia's IHH Healthcare, has filed a petition in the Tokyo District Court to massively increase its damages claim against Daiichi Sankyo. The claim has jumped from the original JPY 20 billion (about RM 634 million / ₹530 crore) to approximately INR 109.3 billion (about RM 5.7 billion / JPY 199.8 billion), plus a separate JPY 5 million defamation claim and accrued interest — roughly a 9-fold increase. The lawsuit stems from Daiichi Sankyo's alleged interference with the 2018 open offers that were part of NTK's acquisition of Fortis shares. The petition was based on an expert report quantifying losses under three counterfactual scenarios. The next court hearing is scheduled for July 11, 2025, and NTK has reserved the right to further raise the damages sought.
The case is between Fortis's promoter NTK and Daiichi Sankyo, not against Fortis itself, so there is no direct financial liability for the company. However, any large award or settlement could affect the financial position of IHH/NTK (Fortis's controlling shareholder) and may indirectly influence promoter stability and ownership dynamics. Investors should treat this as a watch-list event rather than an immediate earnings trigger.