Fortis scraps SRL, Fortis Malar merger scheme

New Delhi, Jun 14: Fortis Healthcare has said it is withdrawing the scheme of amalgamation between Fortis Malar Hospitals and SRL due to delay in completion of the process and strong headwinds in the sector.
“The entire process was expected to take 6-8 months, however, due to reasons beyond the company’s control, the process has taken over 19 months and is still not complete,” Fortis Healthcare said in a late night filing.
The scheme is currently pending for approval with the NCLT, Chandigarh bench, it added.