Comments
After delaying the process thrice, Fortis Healthcare may finally declare its Q4 and FY18 results today.
The healthcare provider had said on June 11 that it will defer the approval of its quarterly and annual financial results until June 25. However, at the board meeting that commenced at 4 pm on June 25 and went on till 2.15 am on June 26, the approval was deferred by yet another day.
"In view of the ongoing discussions on the annual accounts, which requires further deliberation, the board decided to adjourn the meeting to be re-convened on June 26," a Fortis release stated.
Fortis has informed the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) that the trading window for dealing in the company’s securities will continue to remain closed until further notice.
The announcement of results has been deferred as the board is discussing about the findings of Luthra and Luthra law firm. The law firm had been asked to submit an internal investigation report after probing into the possible breaches in the company's internal procedures. The promoters have allegedly taken out Rs 473 crore from the company.
After the previous bidding process fell through, Fortis had called for submission of the binding bids once again, by June 28 from interested parties. Shares of Fortis were trading at Rs 136.85 on the NSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.