Fortis Healthcare's Merger Scheme Involving Five Subsidiaries Becomes Effective March 1, 2026
March 01, 2026
Fortis Healthcare Limited's composite scheme of merger by absorption involving five wholly-owned subsidiaries became effective March 1, 2026, following the filing of certified NCLT order copy with the Registrar of Companies. The merger involves Fortis Emergency Services Limited, Fortis Cancer Care Limited, Fortis Health Management (East) Limited, Birdie & Birdie Realtors Private Limited, and Fortis Hospitals Limited with their respective shareholders and creditors.
Fortis Healthcare Limited has announced that its composite scheme of merger by absorption involving five wholly-owned subsidiaries has become effective from March 1, 2026. The healthcare company informed the stock exchanges through a regulatory filing on March 2, 2026, confirming the completion of the merger process.
Merger Implementation Details
The company filed the certified copy of the Hon'ble National Company Law Tribunal (NCLT) order with the Registrar of Companies on March 1, 2026 at 3:00 P.M. (IST). The filing was completed by submitting Form INC-28, in accordance with the applicable provisions of the Companies Act, 2013.
Parameter: Details Effective Date: March 1, 2026 Filing Time: 3:00 P.M. (IST) Form Submitted: INC-28 NCLT Benches: Delhi Bench and Chandigarh Bench
Subsidiaries Involved in Merger
The composite scheme of arrangement involves the merger by absorption of five wholly-owned subsidiaries with their respective shareholders and creditors:
Fortis Emergency Services Limited (FESL)
Fortis Cancer Care Limited (FCC)
Fortis Health Management (East) Limited (FHML)
Birdie & Birdie Realtors Private Limited (B&B)
Fortis Hospitals Limited (FHSL)
Regulatory Compliance
The announcement was made pursuant to Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows the company's earlier intimation dated January 16, 2026, regarding the merger proceedings.
The filing was signed by Satyendra Chauhan, Company Secretary & Compliance Officer, confirming the completion of all regulatory requirements for the merger scheme to take effect.
Fortis Healthcare Limited has provided an update on the ongoing material litigation involving its promoter shareholder Northern TK Venture Pte Ltd (NTK) against Daiichi Sankyo Company Limited before the Tokyo District Court in Japan. The healthcare company disclosed this development under Regulation 30 of SEBI Listing Regulations on February 19, 2026.
Latest Court Filing Development
On February 12, 2026, NTK submitted a petition to the Tokyo District Court to further amend its claim against Daiichi Sankyo. The court delivered the copy of this Petition to Amend Claims to Daiichi Sankyo on February 17, 2026. This filing represents the latest development in the ongoing legal proceedings that have been tracked through multiple announcements since November 2023.
Financial Claims and Relief Sought
NTK continues to seek substantial financial compensation and other reliefs from Daiichi Sankyo under applicable substantive laws:
Claim Type: Amount Sought Tortious Claims: INR109,299,359,054 Defamation Claims: JPY5,000,000 Additional: Accrued interest on damages claimed
The tortious claim amount is equivalent to RM5,708,268,325.95 and JPY199,785,395,700.48, while the defamation claim of JPY5,000,000 equals RM142,860.00 and INR2,735,419.14, based on exchange rates as of December 31, 2024.
Amended Injunctive Relief
The primary change in the amended petition relates to the injunctive claim against Daiichi Sankyo. Following the completion of open offers on November 10, 2025, NTK has modified its request for injunctive relief. The amended petition seeks to prevent Daiichi Sankyo from:
Obstructing the acquisition of shares in Fortis and Malar by NTK
Interfering with any other investment and corporate exercises related to Fortis and Malar
Making defamatory statements to SEBI and other third parties, including the public
Background Transaction Details
The litigation stems from a complex transaction involving IHH Healthcare's subsidiary NTK and Fortis Healthcare. The original transaction included:
Transaction Component: Details Share Subscription: 235,294,117 new equity shares of INR 10 each Fortis Open Offer: Up to 197,025,660 shares (26.10% of expanded voting capital) Malar Open Offer: Up to 4,894,308 shares (26.00% of voting capital) Completion Date: November 10, 2025
Additional Relief Sought
Beyond financial compensation and injunctive relief, NTK also seeks:
Publication of a statement on Daiichi Sankyo's website to vindicate NTK's reputation
Issuance of a statement to SEBI for reputation vindication purposes
NTK has reserved its rights to further amend the amount of damages in the current petition, indicating potential future modifications to the financial claims.
Corporate Disclosure
Fortis Healthcare's disclosure was made through its Company Secretary & Compliance Officer Satyendra Chauhan, referencing multiple previous announcements dating back to November 2023. The company has committed to informing stakeholders of any material developments in this litigation matter. IHH Healthcare, as the parent company of NTK, simultaneously announced this development to the Bursa Malaysia and Singapore Stock Exchanges, ensuring comprehensive market disclosure across relevant jurisdictions.
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As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.
Merger Implementation Details
The company filed the certified copy of the Hon'ble National Company Law Tribunal (NCLT) order with the Registrar of Companies on March 1, 2026 at 3:00 P.M. (IST). The filing was completed by submitting Form INC-28, in accordance with the applicable provisions of the Companies Act, 2013.
Parameter: Details Effective Date: March 1, 2026 Filing Time: 3:00 P.M. (IST) Form Submitted: INC-28 NCLT Benches: Delhi Bench and Chandigarh Bench
Subsidiaries Involved in Merger
The composite scheme of arrangement involves the merger by absorption of five wholly-owned subsidiaries with their respective shareholders and creditors:
Fortis Emergency Services Limited (FESL)
Fortis Cancer Care Limited (FCC)
Fortis Health Management (East) Limited (FHML)
Birdie & Birdie Realtors Private Limited (B&B)
Fortis Hospitals Limited (FHSL)
Regulatory Compliance
The announcement was made pursuant to Regulations 30 and 51 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This follows the company's earlier intimation dated January 16, 2026, regarding the merger proceedings.
The filing was signed by Satyendra Chauhan, Company Secretary & Compliance Officer, confirming the completion of all regulatory requirements for the merger scheme to take effect.
Fortis Healthcare Limited has provided an update on the ongoing material litigation involving its promoter shareholder Northern TK Venture Pte Ltd (NTK) against Daiichi Sankyo Company Limited before the Tokyo District Court in Japan. The healthcare company disclosed this development under Regulation 30 of SEBI Listing Regulations on February 19, 2026.
Latest Court Filing Development
On February 12, 2026, NTK submitted a petition to the Tokyo District Court to further amend its claim against Daiichi Sankyo. The court delivered the copy of this Petition to Amend Claims to Daiichi Sankyo on February 17, 2026. This filing represents the latest development in the ongoing legal proceedings that have been tracked through multiple announcements since November 2023.
Financial Claims and Relief Sought
NTK continues to seek substantial financial compensation and other reliefs from Daiichi Sankyo under applicable substantive laws:
Claim Type: Amount Sought Tortious Claims: INR109,299,359,054 Defamation Claims: JPY5,000,000 Additional: Accrued interest on damages claimed
The tortious claim amount is equivalent to RM5,708,268,325.95 and JPY199,785,395,700.48, while the defamation claim of JPY5,000,000 equals RM142,860.00 and INR2,735,419.14, based on exchange rates as of December 31, 2024.
Amended Injunctive Relief
The primary change in the amended petition relates to the injunctive claim against Daiichi Sankyo. Following the completion of open offers on November 10, 2025, NTK has modified its request for injunctive relief. The amended petition seeks to prevent Daiichi Sankyo from:
Obstructing the acquisition of shares in Fortis and Malar by NTK
Interfering with any other investment and corporate exercises related to Fortis and Malar
Making defamatory statements to SEBI and other third parties, including the public
Background Transaction Details
The litigation stems from a complex transaction involving IHH Healthcare's subsidiary NTK and Fortis Healthcare. The original transaction included:
Transaction Component: Details Share Subscription: 235,294,117 new equity shares of INR 10 each Fortis Open Offer: Up to 197,025,660 shares (26.10% of expanded voting capital) Malar Open Offer: Up to 4,894,308 shares (26.00% of voting capital) Completion Date: November 10, 2025
Additional Relief Sought
Beyond financial compensation and injunctive relief, NTK also seeks:
Publication of a statement on Daiichi Sankyo's website to vindicate NTK's reputation
Issuance of a statement to SEBI for reputation vindication purposes
NTK has reserved its rights to further amend the amount of damages in the current petition, indicating potential future modifications to the financial claims.
Corporate Disclosure
Fortis Healthcare's disclosure was made through its Company Secretary & Compliance Officer Satyendra Chauhan, referencing multiple previous announcements dating back to November 2023. The company has committed to informing stakeholders of any material developments in this litigation matter. IHH Healthcare, as the parent company of NTK, simultaneously announced this development to the Bursa Malaysia and Singapore Stock Exchanges, ensuring comprehensive market disclosure across relevant jurisdictions.
We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better.
Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians.
As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led platform built for super traders and long term investors.