US-based trust files suit against Fortis Health, others; seeks over $6.5 bn in damages

A US-based trust has filed a complaint against Fortis Healthcare and others, including its promoter, in US for copyright infringement, tortious interference with contracts, among others, and sought over $6.5 billion in damages.
 
The trust, Emqore Envesecure Private Capital Trust, has filed a suit/ complaint against 28 named defendants and 21 non-party defendants, including Fortis Healthcare Limited and IHH Healthcare Berhad before the United States District Court, District of New Jersey, USA, Fortis Health said in an exchange filing.
 
IHH Healthcare Berhad is the holding company of Fortis Health promoter Northern TK Venture Pte Ltd.
 
Fortis Health said that the complaint has not yet been served to it under the Hague Convention on the Service Abroad of Judicial and Extrajudicial Documents in Civil or Commercial Matters.
 
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"The Complaint has been filed for the alleged violation of, inter-alia, the U.S. Racketeer, Influenced and Corrupt Organizations Act, 28 U.S.C. § 1961, copyright infringement, tortious interference with contracts, etc. and has claimed damages in excess of USD 6.5 billion against all the Defendants," the filing said.
 
Fortis Health said that based on legal advice, it believes that it has strong grounds in its favour for dismissal of the allegations against it in the complaint, and in view of the same, the complaint is currently not expected to have any financial or operational implications for the company.
 
"If and when the Complaint will be served on FHL in accordance with the applicable laws/ Convention, FHL will take necessary legal actions for seeking dismissal of the Complaint under the relevant provisions of law," it said.
 
Shares of Fortis Health closed 0.87 per cent higher at Rs 289.20 on the BSE on Monday.

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