Business Daily from THE HINDU group of publications
Friday, May 25, 2007
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Business Daily from THE HINDU group of publications Friday, May 25, 2007 ePaper |
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Medical Institutions & Hospitals Corporate - Corporate Disputes Industry & Economy - Courts/Legal Issues Fortis, Trehan may settle out of court Our Bureau
New Delhi May 24 Fortis Healthcare and the Dr Naresh Trehan — stakeholders of Escorts Heart Institute and Research Centre (EHIRC) — have decided to pursue an out-of-court settlement. "The two partners are working towards mutually-agreed out-of-court settlement," confirmed the Fortis Healthcare spokesperson. When contacted, Dr Trehan declined to comment, saying that the development was possible.
Court's Intervention
Fortis, which owns 90 per cent of EHIRC, had last Friday sacked Dr Trehan, who holds 10 per cent stake in the hospital. The next day, relatives of patients awaiting treatment protested against the doctor being barred from entering the hospital. An application filed in the Delhi High Court, by Mr Anil Nanda, who has a case pending in the Courts, challenging the very sale of the hospital by his brother Mr Rajan Nanda to the Ranbaxy promoted company resulted in a stay order allowing Dr Trehan access to EHIRC. A counsel of doctors and administrators, some of whom had also seen their services terminated, had sought the Court's intervention and asked for a panel to be set up to run the hospital. The Court was to hear the plea on Thursday, May 24, but an adjournment was granted when the Court was informed of ongoing settlement negotiations between both parties.
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