The relevant disclosure is attached.
Awaiting price reaction for this filing.
Fortis Healthcare, through its wholly owned subsidiary Fortis Hospotel Limited, had signed definitive agreements on February 14, 2025 to acquire the entire business operations of Shrimann Superspecialty Hospital, Jalandhar, along with hospital land and adjacent land. The deal was temporarily blocked by an ex-parte injunction order dated March 20, 2025, following a petition filed by Cancer Treatment Services Hyderabad Private Limited (CTSH) against Shrimann Hospitals and its partners. The company has now informed exchanges that it received a Dismissal Order dated May 13, 2025 from the Addl. District and Sessions Judge-IX, Jalandhar, recording that CTSH and the respondents have settled their differences. The petition has been dismissed as withdrawn, the ex-parte injunction order stands vacated, and the judicial restraint on the sale of Shrimann Hospital has been lifted.
This is positive news for shareholders as the legal roadblock on Fortis's planned acquisition of Shrimann Hospital has been removed, clearing the way for the deal to proceed and supporting the company's expansion plans in the hospital business.