Fortis Healthcare Limited has disclosed the receipt of GST orders from Tamil Nadu authorities with significant financial implications totaling ₹2,139.61 crores. The healthcare major made this disclosure under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations on December 30, 2025.

GST Orders and Financial Impact

The GST Authority from State Tax Officer (ST) - Group IX, Chengalpattu Intelligence Division, Tamil Nadu had initially issued show cause notices across three financial years. The confirmed demands following the company's response are substantially higher than the initial notices.

Timeline of Events

The GST orders were received on specific dates in December 2025:

• FY 2020-21 Order: December 29, 2025 at 5:46 PM
• FY 2021-22 Order: December 29, 2025 at 5:53 PM
• FY 2022-23 Order: December 30, 2025 at 4:38 PM

Regulatory Compliance

The company has fulfilled its disclosure obligations under SEBI regulations by providing detailed information about the litigation. The disclosure includes comprehensive details about the opposing party, the nature of disputes, and expected financial implications. Fortis Healthcare noted that show cause notices related to balance amounts beyond the confirmed demands have been dropped by the GST Authority.

Company Response

Following the initial show cause notices, Fortis Healthcare submitted its response to the GST Authority. After reviewing the company's submissions, the authority passed final orders confirming the demands with applicable interest and penalties. The total confirmed amount of ₹2,139.61 crores represents a significant financial exposure for the healthcare company across the three-year period from FY 2020-21 to FY 2022-23.

Fortis Healthcare Limited has issued a comprehensive postal ballot notice to shareholders seeking approval for the appointment of Mr. Mohd Shahazwan Bin Mohd Harris as Non-Independent Non-Executive Director. The healthcare company communicated these developments to stock exchanges under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015 on December 23, 2025.

Director Appointment and Board Changes

The Board of Directors approved the appointment of Mr. Mohd Shahazwan Bin Mohd Harris as Additional Director (Non-Executive Non-Independent) through a circular resolution passed on December 19, 2025. This appointment follows the resignation of Mr. Lim Tsin Lin from his position as Non-Executive Non-Independent Director, effective from the close of business hours on December 19, 2025.

Postal Ballot Notice and Voting Process

Fortis Healthcare issued the postal ballot notice on December 23, 2025, seeking member approval for appointing Mr. Mohd Shahazwan Bin Mohd Harris as a Non-Independent Non-Executive Director, liable to retire by rotation. This complies with SEBI Listing Regulations requirement for shareholder approval within three months of director appointment.

Professional Background and Qualifications

Mr. Shahazwan brings extensive experience to the Board, with over 25 years in investments, mergers and acquisitions, portfolio and asset management, corporate strategy, and restructuring. He currently serves as Advisor, Special Projects in UEM Group and was appointed to the Board of IHH Healthcare Berhad in March 2023.

His career highlights include serving as Head, Strategic Investments at Employees Provident Fund (EPF), Chief International Officer at Tenaga Nasional Berhad (TNB), and various investment roles at Khazanah Nasional Berhad from 2005 to 2016, covering investments across Asia and Europe.

Nomination and Compliance Details

The company received a nomination letter dated December 10, 2025, from Northern TKV Venture Pte. Limited, nominating Mr. Shahazwan for the director position. The appointment complies with Companies Act 2013 provisions and SEBI regulations, with the company confirming that Mr. Shahazwan is not debarred from holding the office of Director by any regulatory authorities.

Voting Instructions and E-voting Facility

The company is offering comprehensive e-voting facility through KFintech platform, enabling members to vote electronically instead of physical postal ballot forms. Members holding shares as of the cut-off date December 19, 2025, are eligible to participate in the voting process through multiple access methods including NSDL, CDSL, and direct KFintech platforms.

The voting process complies with Companies Act 2013 provisions and SEBI regulations, with detailed instructions provided for both demat and physical shareholders. Results will be declared at the Corporate Office and displayed on the company website and stock exchanges, with the resolution deemed passed if requisite majority assents to the proposal.