Mumbai, April 23: Fortis Healthcare on Monday said Hero Enterprise Investment Office and the Burman Family Office have extended the validity of their 'improved binding offer' till May 4, 2018.
According to a BSE filing, "all other terms and conditions of the improved offer remain unchanged".
On April 19, Sunil Kant Munjal of Hero Enterprise as well as Anand Burman and Mohit Burman of the Burman family approached the Board of Fortis Healthcare with a binding offer to invest Rs 1,500 crore directly in the company.
The 'improved binding offer' replaced their original offer made to the Board on April 12, 2018 to invest Rs 1,250 crore directly in Fortis Healthcare.
The development comes days after Fortis Healthcare disclosed that it has received "an unsolicited non-binding expression of interest (EoI)" from KKR-backed Radiant Life Care with "a proposal for making investment and or re-structuring the company subject to certain conditions as mentioned in the offer letter".
As per an earlier BSE filing, Radiant Life Care has made an offer to buy a 26 per cent stake in the company at a price of Rs 126 per share, excluding the SRL Diagnostics' business.
Fortis Healthcare had earlier revealed that it has received a "supplemental proposal" from IHH Healthcare Berhad.
Besides IHH, Fortis Healthcare has received "an unsolicited non-binding expression of interest (EoI)" from Fosun Health Holdings for a possible due diligence.
Fosun Health Holdings has made an offer of a "primary infusion at a price up to Rs 156 per share, subject to due diligence to be completed within three weeks, up to a total investment of $350 million" including a preliminary investment of up to Rs 100 crore.
However, Fortis Healthcare on March 27 had announced plans to demerge its hospitals business (Fortis Hospitals) into Manipal Hospital Enterprises Private Ltd (Manipal Hospitals).
The plan envisages the sale of the company's 20 per cent stake in SRL Ltd to Manipal Hospitals.
On last Thursday, Fortis Healthcare decided to constitute an "expert advisory committee" to evaluate all binding proposals for fund infusion. The panel is led by Deepak Kapoor, Former Chairman and CEO of Price Waterhouse Coopers, India and has been "requested to provide a report of its recommendation to the Board, by April 26, 2018".
The company has named Renuka Ramnath and Lalit Bhasin as members of an "expert advisory committee". Ramnath is a former MD and CEO of ICICI Venture and Bhasin, President, Society of Indian Law Firms and Managing Partner, Bhasin & Co.
The panel is likely to meet by April 25 to decide on the merger or buy offers.
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US SC rejects 26/11 attack accused Tahawwur Rana’s plea seeking stay on his extradition to India
New York, Apr 7 (PTI): The US Supreme Court has rejected 26/11 Mumbai terror attack accused Tahawwur Rana's appeal seeking a stay on his extradition to India, moving him closer to being handed over to Indian authorities to face justice.
Rana, 64, a Canadian national of Pakistani origin, is currently lodged at a metropolitan detention centre in Los Angeles.
He is known to be associated with Pakistani-American terrorist David Coleman Headley, one of the main conspirators of the 26/11 attacks. Headley conducted a recce of Mumbai before the attacks by posing as an employee of Rana’s immigration consultancy.
Rana had submitted an ‘Emergency Application For Stay Pending Litigation of Petition For Writ of Habeas Corpus' on February 27, 2025, with Associate Justice of the Supreme Court of the United States and Circuit Justice for the Ninth Circuit Elena Kagan.
Kagan had denied the application earlier last month.
Rana had then renewed his ‘Emergency Application for Stay Pending Litigation of Petition for Writ of Habeas Corpus previously addressed to Justice Kagan’, and requested that the renewed application be directed to US Chief Justice John Roberts.
An order on the Supreme Court website noted that Rana's renewed application had been “distributed for Conference” on April 4 and the “application” has been “referred to the Court.”
A notice on the Supreme Court website Monday said that “Application denied by the Court.”
Rana was convicted in the US of one count of conspiracy to provide material support to the terrorist plot in Denmark and one count of providing material support to Pakistan-based terrorist organisation Lashker-e-Taiba which was responsible for the attacks in Mumbai.
New York-based Indian-American attorney Ravi Batra had told PTI that Rana had made his application to the Supreme Court to prevent extradition, which Justice Kagan denied on March 6. The application was then submitted before Roberts, “who has shared it with the Court to conference so as to harness the entire Court’s view.”
The Supreme Court justices are Associate Justice Clarence Thomas, Associate Justice Samuel A. Alito, Jr., Associate Justice Sonia Sotomayor, Associate Justice Elena Kagan, Associate Justice Neil M. Gorsuch, Associate Justice Brett M. Kavanaugh, Associate Justice Amy Coney Barrett, and Associate Justice Ketanji Brown Jackson.
In his emergency application, Rana had sought a stay of his extradition and surrender to India pending litigation (including exhaustion of all appeals) on the merits of his February 13.
In that petition, Rana argued that his extradition to India violates US law and the UN Convention Against Torture "because there are substantial grounds for believing that, if extradited to India, the petitioner will be in danger of being subjected to torture."
"The likelihood of torture in this case is even higher though as petitioner faces acute risk as a Muslim of Pakistani origin charged in the Mumbai attacks,” the application said.
The application also said that his “severe medical conditions” render extradition to Indian detention facilities a “de facto" death sentence in this case.
The US Supreme Court denied Rana's petition for a writ of certiorari relating to his original habeas petition on January 21. The application notes that on that same day, newly-confirmed Secretary of State Marco Rubio had met with External Affairs Minister S Jaishankar.
When Prime Minister Narendra Modi arrived in Washington on February 12 to meet with Trump, Rana’s counsel received a letter from the Department of State, stating that “on February 11, 2025, the Secretary of State decided to authorise” Rana’s "surrender to India,” pursuant to the “Extradition Treaty between the United States and India”.
Rana’s Counsel requested from the State Department the complete administrative record on which Secretary Rubio based his decision to authorize Rana’s surrender to India.
The Counsel also requested immediate information of any commitment the United States has obtained from India with respect to Rana’s treatment. “The government declined to provide any information in response to these requests,” the application said.
It added that given Rana’s underlying health conditions and the State Department’s findings regarding the treatment of prisoners, it is very likely “Rana will not survive long enough to be tried in India".
During a joint press conference with Prime Minister Modi in the White House in February, President Donald Trump announced that his administration has approved the extradition of "very evil" Rana, wanted by Indian law enforcement agencies for his role in the 26/11 Mumbai terror attacks, "to face justice in India”.
A total of 166 people, including six Americans, were killed in the 2008 Mumbai terror attacks in which 10 Pakistani terrorists laid a more than 60-hour siege, attacking and killing people at iconic and vital locations in Mumbai.
