Fortis withdraws "arrangement and amalgamation" scheme
Mumbai, June 14: Fortis Healthcare (FHL) has withdrawn a composite scheme of "arrangement and amalgamation between the company, Fortis Malar Hospitals, SRL and their respective shareholders and creditors", subject to NCLT approval.
According to a late Wednesday night BSE filing, the company said the scheme is "currently pending for approval with the NCLT, Chandigarh Bench".
The company cited delays in the process as one of the reasons to withdraw the scheme. FHL said the entire process was expected to be completed in 6-8 months, however, due to
reasons beyond its control, the process has taken over 19 months and is still not complete.
"During this period of 19 months (a) healthcare sector has witnessed strong headwinds and (b) performance of diagnostics business has not been optimum," the filing said.
"Given the challenges or headwinds in the sector and less than optimum performance of the diagnostics business during the period of delay, the demerger and a subsequent listing may result in value unlocking that may not be optimum for Fortis shareholders at this point of time."
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Regulator DGCA eases flight duty norms for pilots amid IndiGo crisis
Mumbai (PTI): Aviation watchdog DGCA on Friday eased the flight duty norms by allowing substitution of leaves with a weekly rest period amid massive operational disruptions at IndiGo, according to sources.
As per the revised Flight Duty Time Limitations (FDTL) norms, "no leave shall be substituted for weekly rest", which means that weekly rest period and leaves are to be treated separately. The clause was part of efforts to address fatigue issues among the pilots.
Citing IndiGo flight disruptions, sources told PTI that the Directorate General of Civil Aviation (DGCA) has decided to withdraw the provision 'no leave shall be substituted for weekly rest' from the FDTL norms.
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"In view of the ongoing operational disruptions and representations received from various airlines regarding the need to ensure continuity and stability of operations, it has been considered necessary to review the said provision," DGCA said in a communication dated December 5.
The gaps in planning ahead of the implementation of the revised FDTL, the second phase of which came into force from November 1, have resulted in crew shortage at IndiGo and is one of the key reasons for the current disruptions.
#BREAKING: #DGCA relaxes a clause which debarred airlines to club leaves with weekly rest to mitigate #IndiGo crisis
— Economic Times (@EconomicTimes) December 5, 2025
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