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Renuka Ramnath resigns from Fortis expert panel

Renuka Ramnath resigns from Fortis expert panel

New Delhi: Fortis Healthcare said Renuka Ramnath, former MD, and CEO of ICICI Venture, has resigned from the expert committee set by the healthcare major to evaluate binding proposals and make final recommendations to the board.

In a regulatory filing, Fortis Healthcare Limited (FHL) said it has received the resignation of Ramnath, wherein she excused herself from being the member of the committee due to her pre-occupation.

“The same will be tabled before the board at the scheduled meeting on April 26, 2018, for their consideration and vacancy so caused shall be filled, by the board of directors, with a person of eminent repute,” it added.

The committee is headed by Deepak Kapoor, former chairman and CEO of Price Waterhouse Coopers, India.

The other members of the panel included Ramnath and Lalit Bhasin, president, Society of Indian Law Firms & Managing Partner, Bhasin & Co.

Last week, FHL had approved evaluation of only binding offers and formed an expert committee to evaluate the proposals and make a final recommendation by April 26.

On the basis of the decision by the board, the final proposal will be put forward to the shareholders for their approval.

Already, four entities — KKR-backed Radiant Life Care, Malaysian major IHH Healthcare, Manipal/TPG consortium and Munjal and Burman family offices — have given binding offers to FHL.

Read also: Fortis Update: Investors pile up with revised Offers

Source: PTI
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