Fortis to demerge hospitals business into Manipal
Mumbai: Fortis Healthcare has announced plans to demerge its hospitals business (Fortis Hospitals) into Manipal Hospital Enterprises Private Limited (Manipal Hospitals).
According to a statement issued on late Tuesday night, the company said that the proposed transaction is subject to shareholders' approval, creditor's approval, applicable regulatory approvals (including Competition Commission of India, SEBI, stock exchanges and National Company Law Tribunal (NCLT)) and other customary conditions precedent.
The company's board has also approved sale of its 20 per cent stake in SRL Limited (SRL) to Manipal Hospitals.
"The resultant entity Manipal Hospitals will be a publicly traded company listed on NSE and BSE. The remaining FHL will be an investment holding company with 36.6 per cent stake in SRL," the statement said.
"As part of the proposed transaction, Dr. Ranjan Pai and TPG will invest RS 3,900 crore into Manipal Hospitals."
As per the statement, the funds will be utilised by Manipal Hospitals to "finance the acquisition of 50.9 per cent stake in SRL (20.0 per cent from FHL and 30.9 per cent from other investors for which discussions are currently underway)".
"In addition, the investment will support the proposed acquisition of hospital assets owned by RHT Health Trust ("RHT") and the growth of the hospitals and the diagnostics businesses," the statement said.
Accordingly, the combination of Manipal Hospitals and Fortis Hospitals will result in the creation of the largest provider of healthcare services in India by revenue with 41 hospitals in India and 4 hospitals overseas.
"The hospitals' complementary geographic footprints and combined clinical strengths will provide significant scale, revenue and cost synergies," the statement added.
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BJP worker’s 16-year-old son allegedly casts eight votes in Uttar Pradesh’s Farrukhabad; Video viral
Lucknow (Farrukhabad): A viral video has surfaced showing a 16-year-old son of a BJP worker allegedly casting eight votes to the saffron party during the ongoing general elections in Uttar Pradesh. The video has sparked controversy, and the opposition has urged for prompt action from the Election Commission of India, reports scroll.in.
The video shared by the Samajwadi Party President Akhilesh Yadav on micro-blogging site ‘X’, showed the youngster recording himself while casting multiple times in a series of instances. The incident reportedly took place in Khiri Pamaran village, which falls under the Aliganj Assembly constituency within the Farrukhabad parliamentary seat. Mukesh Rajput, the sitting MP, is the BJP candidate in this constituency. Polling in Farrukhabad occurred on May 13 during the fourth phase of the general election.
In the viral video, the youngster is seen casting eight votes in total, all for the BJP, one by one with different clippings.
The youngster in the video has been identified as Rajan Singh Thakur, confirmed his father, Anil Singh Thakur to the Scroll.in. Anil Singh Thakur is the gram pradhan (village head) of Khiri Pamaran and a member of the BJP.
Anil defending his son told the Scroll that the ‘Video misrepresented his son,’ and claimed that the voting was done when the machine was being tested in some instances and other clipping of him voting on behalf of mentally and physically disabled voters was merged and made into a video.
Despite the Anil's caims, the video has drawn significant criticism. Subhash Chandra Prajapati, the additional district magistrate of Farrukhabad, confirmed to the Scroll that the administration will file a case soon. He mentioned that the returning officer is investigating the matter following a directive from the chief electoral officer in Lucknow.
The opposition has been vocal in its criticism, with Akhilesh Yadav demanding action from the Election Commission. In his social media post, Yadav accused the BJP of undermining the electoral process and described the party's booth committee as a "loot committee." The Congress party also called on the Election Commission to take action, in a ‘X’ post the party wrote, “Dear Election Commission…are you watching..a boy is voting 8-8 times ... .at least wake up now.”
Congress leader Rahul Gandhi, took to ‘X’ to express, “Fearing and seeing their defeat, the BJP is attempting to undermine democracy by pressuring government machinery to deny the mandate. The Congress expects all officers performing election duties to remember their constitutional responsibilities despite any pressure from those in power. Otherwise, once the Indian National Developmental Inclusive Alliance (INDIA) bloc government is formed, actions will be taken to ensure that anyone will think ten times before violating their 'Oath to the Constitution'."
Following the video's circulation, Naval Kishor Shakya, the Samajwadi Party candidate in Farrukhabad, filed a complaint with the district election officer. Shakya's complaint alleges that Rajan Singh Thakur cast votes after snatching voter information slips from other voters and that he was assisted by Dinesh Thakur, the local police station's station house officer. Shakya has called for re-polling at the affected polling center.
In a related incident earlier in May, Gujarat Police arrested two BJP workers for allegedly casting bogus votes and live-streaming the act on social media in the Dahod constituency. The Election Commission conducted re-polling at the affected booth following the incident.
The opposition INDIA bloc, including the Congress and the Samajwadi Party, has repeatedly accused the Election Commission of failing to take prompt action against election model code of conduct violations.
अपनी हार सामने देख कर भाजपा जनादेश को झुठलाने के लिए सरकारी तंत्र पर दबाव बना कर लोकतंत्र को लूटना चाहती है।
— Rahul Gandhi (@RahulGandhi) May 19, 2024
कांग्रेस चुनावी ड्यूटी कर रहे सभी अधिकारियों से यह अपेक्षा करती है कि वो सत्ता के दबाव के सामने अपनी संवैधानिक ज़िम्मेदारी न भूलें।
वरना INDIA की सरकार बनते ही ऐसी… https://t.co/fk4wXL8QZy
