KUALA LUMPUR: IHH Healthcare Bhd
said its position remained that its subsidiary, Northern TK Venture Pte Ltd (NTK), acquired its stake in Fortis Healthcare in 2018 through a transparent, widely public and fully regulated competitive bidding process.
In a filing with Bursa Malaysia, the healthcare group said the transaction obtained all necessary corporate, shareholder and regulatory approvals, including those required under the Competition Commission of India (CCI) and the Securities and Exchange Board of India’s (SEBI) takeover regulations.
"IHH's investment was made through a preferential allotment of newly issued Fortis shares amounting to INR4,000 crore for a 31 per cent stake, together with a mandatory tender offer to the public shareholders.
"No secondary shares were acquired from the former promoters and judgement debtors, Malvinder Mohan Singh and Shivinder Mohan Singh, and no payments were made to them," it said in a statement.
The statement comes after the Supreme Court of India on Sept 25, 2026 disposed of a Special Leave Petition (SLP) filed by Fortis challenging a Delhi High Court's order requiring a forensic audit in relation to the company.
IHH said it will fully cooperate with the forensic audit and is confident that an independent review will objectively establish the facts surrounding the transaction. - Bernama
