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Why the queue of suitors for Fortis is thinning

The Munjal-Burman alliance, Fortis’s most gung-ho bidder not so long ago, has given up on it. A close look at financial and legal documents reveals the mess that is taking the sheen off one of Indian healthcare’s biggest brands.
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anujgupta
5 Jul 2018 6 Mins Read 0 comment
People wait to withdraw money from an ATM at a Fortis Hospital in New Delhi; Sanjeev Verma/Hindustan Times via Getty Images Getty Images
People wait to withdraw money from an ATM at a Fortis Hospital in New Delhi; Sanjeev Verma/Hindustan Times via Getty Images
When the Pope dies, cardinals lock themselves up in the Vatican and start the tortuous process of electing the next one. The anxious public waiting outside learn the outcome from smoke coming out of a chimney. Black smoke: no result. White smoke: Hallelujah. For Fortis watchers, the process of finding an owner for the troubled hospital chain has been
company, including financial liabilities, provisions, current tax liabilities, and others, rose by 10.8% compared with FY17. Tax troubles of EHIRCL Legal battle on who owns the brand Fortis is yet to make provisions for potential losses arising from the above. Till it puts all this past itself, expect more smoke, even if it does change colour.
When the Pope dies, cardinals lock themselves up in the Vatican and start the tortuous process of electing the next one. The anxious public waiting outside learn the outcome from smoke coming out of a chimney. Black smoke: no result. White smoke: Hallelujah. For Fortis watchers, the process of finding an owner for the troubled hospital chain has been company, including financial liabilities, provisions, current tax liabilities, and others, rose by 10.8% compared with FY17. Tax troubles of EHIRCL Legal battle on who owns the brand Fortis is yet to make provisions for potential losses arising from the above. Till it puts all this past itself, expect more smoke, even if it does change colour.

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