HC issues notice to Daiichi Sankyo on order to auction Fortis trademark
This story was originally published at 20:54 IST on 15 April 2025
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NEW DELHI – A division bench of the Delhi High Court Tuesday issued notice to Daiichi Sankyo Co. Ltd. and others on a petition by RHC Healthcare Management Services Pvt. Ltd. against a single judge's order to auction the Fortis trademark owned by the latter. RHC Healthcare Management has petitioned the court to direct valuation of the brand and mark Fortis through an independent court-appointed valuer.
Daiichi Sankyo opposed RHC Healthcare Management's petition on maintainability. The court will hear the matter on Apr. 29 to decide whether RHC Healthcare's petition is maintainable.
In October, the single judge had passed the auction order on an application by Daiichi Sankyo seeking execution of an INR 35 billion arbitral award in its favour and against RHC Healthcare Management and Fortis Healthcare Ltd.'s former promoters Malvinder Singh and Shivinder Singh.
RHC Healthcare has argued that the single judge had directed auction of the trademark without ordering a fair and independent valuation prior to the sale. The single judge had dismissed RHC Healthcare's prayer for an independent valuation of the Fortis trademark on the premise that a public auction with maximum bidders would determine the optimum price for the brand.
On Tuesday, shares of Fortis Healthcare Ltd. ended 3.0% higher at INR 669.25 on the National Stock Exchange. End
Reported by Surya Tripathi
Edited by Rajeev Pai
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