Fortis Board receives 'Binding Bids'
Mumbai, July 3: Fortis Healthcare (FHL) on Tuesday said that its Board has received "Binding Bids" from suitors under the new transaction process.
"The 'Binding Bids' will be evaluated by the Board of Directors of the company in consultation with its advisors," FHL said in a BSE filing on Tuesday.
On June 29, FHL had extended the deadline for submission of binding bids to July 3.
FHL had earlier said that it will consider the bids of four suitors -- Hero Enterprise Investment Office and Burman Family Office, IHH Healthcare Berhand, Radiant Life Care and TPG Asia and Manipal Health Enterprises -- in the new transaction process.
The earlier date of bid submission was June 28.
On its part, IHH in a filing to Bursa Malaysia informed that it has on Tuesday "issued a letter to the Board of Fortis setting out a binding offer, which supersedes and replaces the Enhanced Revised Proposal".
"The 'Binding Offer Letter' represents IHH's only binding offer. Legal obligations and agreement between IHH and Fortis will be created only after the Board of Fortis approves the preferential allotment in terms of the share subscription agreement to be executed between Fortis and IHH or the nominee of IHH."
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Karnataka High Court stays government order allowing Waqf Board to issue marriage certificates
Bengaluru: The Karnataka High Court has stayed a Government Order (GO) issued on August 30, 2023, which authorised the Karnataka State Board of Waqf and its district officers to issue marriage certificates to Muslim couples.
A Division Bench comprising Chief Justice NV Anjaria and Justice KV Aravind observed that the GO is inconsistent with the provisions of the Waqf Act, 1995, which does not empower the Waqf Board or its officers to issue marriage certificates. The Bench stated, "Issuance of marriage certificates is neither a matter of better administration of the Waqf Board nor incidental to its management."
The interim order was passed during the hearing of a Public Interest Litigation (PIL) filed by Alam Pasha, challenging the GO issued by the Under Secretary of the Minority, Waqf, and Haj Department. The petitioner argued that the Waqf Act pertains to the management of moveable and immoveable properties and does not include provisions related to marriage certificates.
Previously, under the now-repealed Kazi Act, 1988, Kazis officiating Muslim marriages were authorised to issue marriage certificates. The petitioner contended that with the repeal of the Kazi Act in 2013, there is no legal basis for the Waqf Board to assume this role. Instead, marriage registrations are governed by the Hindu Marriage Act, 1955, or the Special Marriage Act, 1954, under the jurisdiction of district or State Registrars of Marriages.
The State government defended the GO, citing the difficulties faced by Muslim couples, especially those travelling abroad, in obtaining marriage certificates. However, the Court noted that administrative convenience cannot override the statutory limitations of the Waqf Act.
Notices have been issued to the Waqf Board, and the matter is scheduled for further hearing on December 7, 2024.
Advocate Saraswathi M appeared for the petitioner, while Additional Government Advocate Niloufer Akbar represented the State government.
