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Disputes

Sankyo-Daiichi's move to block Fortis's sale surprised us: Fortis chairman Ravi Rajagopal

When Malaysia’s IHH Healthcare Berhad won the bid for Fortis, the hospital chain expected an end to months of turmoil. Its relief was short-lived. Daiichi Sankyo, the Japanese firm that is fighting an arbitration battle related to Ranbaxy against Shivinder and Malvinder Singh — former promoters of both Ranbaxy and Fortis — wants the Delhi High Court to block Fortis’s sale. In his first interview after being appointed chairman, Ravi Rajagopal opens up about this unexpected hurdle and what it means for Fortis’s future.
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anujgupta
8 Aug 2018 3 Mins Read 0 comment
Ravi Rajagopal, chairmain, Fortis; photo by Anuj Gupta
Ravi Rajagopal, chairmain, Fortis; photo by Anuj Gupta
Q: What have been your key priorities over the last three months since you took over as chairman?Ravi Rajagopal (RR): We came in at a time of uncertainty when the company was facing serious challenges, and our focus has been simply driven by necessity. We got the [Luthra & Luthra] investigation report and have begun to act on its conclusions.
that is going on right now. The money was given to certain entities and therefore, our recovery should be from those entities. From a legal perspective we will take all necessary actions that are required towards the recoveries of the monies. Q: What impact will the Daiichi saga have on IHH deal? RR: Hopefully, it should have none.
Q: What have been your key priorities over the last three months since you took over as chairman?Ravi Rajagopal (RR): We came in at a time of uncertainty when the company was facing serious challenges, and our focus has been simply driven by necessity. We got the [Luthra & Luthra] investigation report and have begun to act on its conclusions. that is going on right now. The money was given to certain entities and therefore, our recovery should be from those entities. From a legal perspective we will take all necessary actions that are required towards the recoveries of the monies. Q: What impact will the Daiichi saga have on IHH deal? RR: Hopefully, it should have none.

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