Home > companies > Fortis board meet today to decide on course of action

The board of troubled Fortis Healthcare Ltd is likely to meet on Wednesday to consider the outcome of the shareholders’ vote to remove four directors, three of whom had resigned this week.

The board is also expected to discuss the future course of action with regards to the offer made by the combine of Sunil Munjal-Anand Burman to acquire Fortis and it may also look into reconstituting itself with the new members, two people aware of the matter said. Mint could not verify it independently.

“The counting of votes was going on. They will sign off on the removal of three directors and the likely fate of one (Brian Tempest). The board may also discuss the need for new board members, if at all," one of the persons mentioned above said requesting anonymity.

However, another person involved with the deal said that it is unlikely that the board will be reconstituted.

“It will be frivolous to do that at this juncture because whoever gets to buy Fortis would like to have the board reconstituted all over again," said the second person.

An extraordinary general meeting of the shareholders of the hospital operator was held on Tuesday to vote on the removal of its four directors. Out of the four, three directors —Tejinder Singh Shergill, Harpal Singh, Sabina Vaisoha, had already resigned and only Tempest, the fourth director faced the vote and continued to be on the board at the time of voting.

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