Multiple GST Notice Resolutions

Fortis Malar Hospitals Limited has successfully resolved two separate GST show cause notices, demonstrating effective regulatory compliance management. The healthcare company has received favorable outcomes in both cases, significantly reducing potential financial liabilities.

First GST Case Resolution

The company initially received a show cause notice from the Tamil Nadu Intelligence Division for INR 3,454.54 Lakhs covering April 2022 to March 2023. The final resolution details are presented below:

Recent GST Case Update

In the latest development disclosed on December 10, 2025, Fortis Malar Hospitals received another favorable outcome from GST authorities. The second case involved a more recent assessment period:

Regulatory Compliance Success

The company's ability to successfully contest and resolve both GST notices demonstrates strong internal compliance processes. In the second case, the entire demand of INR 26.06 Lakhs was dropped after the company submitted its response to the authorities.

Combined Financial Impact

Across both cases, Fortis Malar Hospitals faced potential liabilities totaling INR 3,480.60 Lakhs but ultimately confirmed obligations of only INR 4.19 Lakhs. This represents a 99.88% reduction in potential GST liabilities, showcasing effective dispute resolution capabilities.

Business Implications

These favorable outcomes strengthen Fortis Malar Hospitals' regulatory standing and demonstrate the company's commitment to tax compliance. The successful resolution of multiple GST cases without significant financial impact provides confidence in the company's operational and compliance frameworks. The healthcare provider can now focus on its core business activities without the burden of substantial pending tax disputes.

IHH Healthcare Berhad has announced the completion of its mandatory open offers for shares in Fortis Healthcare Limited and Fortis Malar Hospitals Limited, marking a significant development in the Indian healthcare sector.

Open Offer Results

The tendering period for both offers closed on November 4, 2025, with the following results:

IHH's Shareholding Post-Offer

Following the completion of these open offers, IHH Healthcare's indirect shareholding stands as follows:

Transaction Details

The transaction included a subscription of 235,294,117 new Fortis shares through preferential allotment to Northern TK Venture Pte Ltd, an indirect wholly-owned subsidiary of IHH Healthcare.

Market Implications

The minimal response to the open offers suggests that existing shareholders in both Fortis Healthcare and Fortis Malar Hospitals are largely satisfied with their current holdings and IHH's management. This could be interpreted as a vote of confidence in the current direction and strategy of these healthcare providers under IHH's influence.

Regulatory Compliance

As per the LODR (Listing Obligations and Disclosure Requirements) data, Fortis Malar Hospitals has duly informed the BSE Limited about this development, ensuring transparency and compliance with regulatory requirements.

The completion of these open offers marks a crucial step in IHH Healthcare's investment in the Indian healthcare market, solidifying its position as a significant stakeholder in both Fortis Healthcare and Fortis Malar Hospitals.