Fortis Healthcare on Wednesday said it has secured the rights to the "Fortis" trademarks and allied marks after a public auction, according to a company disclosure.
The Delhi High Court confirmed the sale of the Fortis Marks to the company on March 25, 2025. This decision follows an earlier order by the same court on October 29, 2024, to auction the trademarks.
The auction was conducted to satisfy a decree in favour of Daiichi Sankyo, stemming from an arbitral award. The Fortis trademarks were previously held by entities owned and controlled by the erstwhile promoters of the company.
Fortis emerged as the successful bidder with a bid of INR 200 crores. The company had already submitted 25% of the bid amount.
RHC Healthcare Management Services Private Limited had filed objections to the sale, but the Delhi High Court rejected these objections.
The Delhi High Court's judgment clarifies that upon the sale confirmation, Fortis Healthcare becomes the owner of the Fortis trademark, with all associated rights and liabilities. The court has directed that the matter be listed before the Joint Registrar on April 16, 2025, for the execution of the sale deed/sale certificate.
Fortis Healthcare stated that there are no expected financial implications due to compensation or penalties arising from the sale of the Fortis Marks.
Fortis is locked in a long legal battle involving the erstwhile promoters Malvinder and Shivinder Singh, related entities, Japanese pharma major Daiichi Sankyo, and others.
Fortis Healthcare is owned by Northern TK Venture an entity that is part of Maalaysis-Singapore-based IHH Healthcare. The hospital chain was also previously owned by the Singh brothers.
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