Fortis Healthcare has announced through an official regulatory disclosure that its wholly-owned subsidiary Fortis Hospitals Limited has received a substantial income tax demand from the authorities. The demand pertains to Assessment Year 2024-25 and amounts to ₹117.04 crore, representing a significant tax liability for the healthcare group.

Official Disclosure Details

The income tax order was issued on March 27, 2026, at 5:19 pm, with Fortis Healthcare making the mandatory disclosure under Regulation 30 of SEBI Listing Regulations on March 28, 2026. The assessment order was issued by the Income Tax Authority specifically targeting Fortis Hospitals Limited, which operates as a wholly-owned subsidiary of Fortis Healthcare Limited.

Regulatory Compliance and Documentation

Fortis Healthcare filed the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided detailed information in Annexure A, as required under the SEBI Master Circular, outlining the litigation details, opposing party information, and expected financial implications.

The disclosure was signed by Satyendra Chauhan, Company Secretary & Compliance Officer, ensuring proper regulatory compliance and transparency with stakeholders and regulatory authorities.

Company's Response Strategy

According to the official disclosure, Fortis Healthcare is evaluating all available options including filing an appeal and rectification application against the income tax order. This indicates that the company may contest the demand through appropriate legal channels if it believes the assessment is incorrect or excessive.

The healthcare company's approach suggests a thorough review of the demand notice to understand the basis for the tax calculation and identify potential grounds for challenging the order through established legal procedures.

Financial Impact Assessment

The ₹117.04 crore demand represents a substantial amount that could impact the subsidiary's financial position. The company has identified this amount as both the expected financial implication and quantum of claims in its regulatory disclosure.

The ultimate financial impact will depend on the outcome of any appeals process and whether the company can successfully challenge the demand or negotiate a resolution with the Income Tax Authority through appropriate legal procedures.

Fortis Healthcare Limited has successfully completed its postal ballot process, with shareholders overwhelmingly approving three special resolutions related to the implementation of a new Employee Stock Option Scheme 2026. The voting concluded on March 18, 2026, demonstrating strong shareholder support for the company's employee incentive programs.

Postal Ballot Results Overview

The postal ballot process, conducted under SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, saw participation from 1,290 shareholders. CS Mukesh Kumar Agarwal served as the scrutinizer for the e-voting process, with KFin Technologies Limited providing the electronic voting platform. The record date for determining eligible voters was set as February 13, 2026.

Resolution-wise Voting Results

All three special resolutions were approved with requisite majority, showcasing strong shareholder confidence in the company's strategic initiatives.

Voting Participation Analysis

The postal ballot witnessed significant participation across different shareholder categories. The promoter and promoter group, holding 23,52,95,895 shares, voted unanimously in favor of all three resolutions through postal ballot mode. Public institutional investors showed strong support, with over 92% participation in the voting process.

Category-wise Participation Details

Employee Stock Option Scheme 2026 Details

The approved Employee Stock Option Scheme 2026 represents a comprehensive framework for employee incentivization across the Fortis Healthcare group. The scheme encompasses not only direct employees of Fortis Healthcare Limited but extends to eligible employees of subsidiary and associate companies, demonstrating the company's commitment to group-wide talent retention and motivation.

The third resolution, while receiving the lowest approval percentage at 87.58%, still secured substantial shareholder support for extending stock option benefits to associate company employees. This resolution faced relatively higher dissent, with 8,36,18,711 votes against, indicating some shareholder concerns about extending benefits beyond direct subsidiaries.

Regulatory Compliance and Process

The postal ballot was conducted in strict compliance with the Companies Act 2013, SEBI LODR Regulations 2015, and various MCA circulars. The company dispatched electronic notices to all eligible shareholders on February 16, 2026, and published advertisements in Financial Express (English) and Rozana Spokesman (Punjabi) on February 17, 2026.

The e-voting facility remained open until 5:00 PM on March 18, 2026, with votes being unblocked at 17:01 PM in the presence of independent witnesses. The comprehensive voting process included provisions for both electronic voting and physical postal ballot submissions, ensuring maximum shareholder accessibility and participation in the decision-making process. Company Secretary Satyendra Chauhan coordinated the entire process, with the scrutinizer report confirming all resolutions were deemed passed on March 18, 2026.