Fortis Healthcare Ltd chairman Harpal Singh said the institute was converted from a charitable to a non-charitable trust as per the law and its subsequent conversion to a company also fulfilled legal requirements.
"In both cases, legal opinion confirms that there was no transfer of lease hold rights. In neither case was there a transfer of allotted land but only statutory vesting of land by operation of law and hence did not require the prior consent of DDA," he said.
He insisted that Fortis was one of the several bidders to acquire a controlling stake in EHRIC, which is a legally constituted entity under the Indian law governing companies.
"As far as we are concerned, we bought a legally constituted company, which was duly registered under the company law," Singh said.
In a detailed statement titled "Fortis clears the air", the Ranbaxy group company said it had completed the transaction in respect of transfer of money, shares and management.
"Fortis has acquired 90 per cent stake in EHIRC and the transaction is complete," it said. The company, however, reaffirmed its commitment to meet any obligations that is required to meet under contractual commitments, including any for free beds.
Singh also pointed out that since its inception, EHIRC received eight allotments of lands totalling approximately 7 acres, of which only 0.7 acres was under the condition for free beds.
He said Escorts had made an offer to pay less than Rs 20 crore (Rs 200 million) to be released from "the free bed condition but a decision was pending". Singh said the matter being subjudice, he would wait for the Delhi High Court ruling on the issue.
He said Fortis was looking to synergise its expertise with that of EHIRC in its pursuit to offer quality healthcare. "The two entities can synergise and offer quality system in multispeciality programmes," Singh said.
Fortis is also looking to complete the project taken up by Escorts. "We are in the process of discussion to complete the Jaipur project started by Escorts for a 200 bed hospital," he said.
The project is 90 per cent complete but was stalled to due to funding issues, he said, however, declined to give a definite time frame for the completion of the project.
