Go Unlimited with Magzter GOLD

Go Unlimited with Magzter GOLD

Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just

$149.99
 
$74.99/Year
The Perfect Holiday Gift Gift Now

IHH-Daiichi feud unlikely to impact Fortis' India plans

Business Standard

|

May 22, 2025

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.

MORE STORIES FROM Business Standard

Business Standard

PE-VC investments at $33 bn in '25

Mega deals slide slightly; IT and BFSI lead sector investments

time to read

1 mins

January 01, 2026

Business Standard

RBI red-flags bank-NBFC interlink risks

Banks acquiring 80% assets through a limited number of NBFCs

time to read

2 mins

January 01, 2026

Business Standard

Precious metals outshine stocks in 2025 amid global volatility

Nearly 60% of the top 1,000 listed stocks delivered negative returns

time to read

1 mins

January 01, 2026

Business Standard

Weakness in ₹, broader equity market shrinks India's billionaire club in 2025

Top IPO promoters

time to read

3 mins

January 01, 2026

Business Standard

EV Policy 2.0: Delhi govt to meet five auto firms, Siam

Meeting scheduled on Jan 2 as capital remains in a smog of pollution

time to read

2 mins

January 01, 2026

Business Standard

Year of hope

India must aim to sustain the growth momentum

time to read

2 mins

January 01, 2026

Business Standard

Eight more cos to get incentives under auto PLI

Three vehicle makers, five auto part makers to get benefits from FY27

time to read

2 mins

January 01, 2026

Business Standard

Centre notifies revised draft rules for labour codes, seeks stakeholders' responses

The Ministry of Labour and Employment on Wednesday notified the revised draft rules for the four new Labour Codes, providing clarity on certain provisions such as gratuity payments and retrenchment of workers.

time to read

1 mins

January 01, 2026

Business Standard

Oyo parent files for ₹6,650 cr IPO via confidential route

Oyo’s parent firm Prism has filed confidential draft red herring prospectus (DRHP) papers with the markets regulator to raise up to %6,650 crore through an initial public offering (IPO), which would be the third attempt by the global travel technology company at public listing.

time to read

2 mins

January 01, 2026

Business Standard

External uncertainties may trigger outflows, Fx rate volatility: RBI

The Reserve Bank of India (RBI) has cautioned that the country's economy faces near-term risks largely from external uncertainties, including the possibility of a sharp correction in US equities that could trigger foreign portfolio outflows, heighten exchange rate volatility and tighten domestic financial conditions.

time to read

2 mins

January 01, 2026

Listen

Translate

Share

-
+

Change font size

Holiday offer front
Holiday offer back