IHH-Daiichi feud unlikely to impact Fortis' India plans

Fortis Healthcare is unlikely to be affected by Malaysian health care giant IHH's move to seek around ₹11,800 crore in damages from Daiichi Sankyo for allegedly blocking its bid for the Delhi-based entity, according to analysts and experts.

- SANKET KOUL & BHAVINI MISHRA

Keyur D Gandhi, managing partner at Gandhi Law Associates, said the damages claimed in a Japanese court were primarily about causing harm to reputation and a loss of opportunity, and, therefore, the impact on Fortis Healthcare's Indian operations was likely to be indirect rather than operational. "If IHH succeeds in proving that Daiichi's objections were frivolous or malicious, it could strengthen its equity and moral argument in Indian courts. It could become part of the evidentiary narrative but won't be determinative. Indian courts will still apply domestic law and public interest scrutiny independently," he added.

On Tuesday, NTK, an indirect subsidiary of IHH, said it had filed an application with the Tokyo District Court to amend its claim for damages against Daiichi Sankyo, raising the amount sought by 10 times from the previous ₹1,180 crore to around ₹11,800.