Fortis withdraws "arrangement and amalgamation" scheme
The company cited delays in the process as one of the reasons to withdraw the scheme. FHL said the entire process was expected to be completed in 6-8 months, however, due to reasons beyond its control, the process has taken over 19 months and is still not complete.
scheme is currently pending for approval with the NCLT, Chandigarh Bench. Image source: Reuters