Renuka Ramnath, former MD & CEO of ICICI Venture, and Lalit Bhasin, President, Society of Indian Law Firms & Managing Partner, Bhasin & Co., have been nominated as members of the expert advisory committee constituted by Fortis board to oversea the evaluation process of bids for the company.
The committee will be headed by Deepak Kapoor, Former Chairman and CEO of Price Waterhouse Coopers, India.
The committee is expected to vet the binding proposals. At the moment, Fortis has five proposals, including the one from Radiant Life Care, which runs B.L. Kapur and Nanavati Hopitals, at an offer of 165 rupees a stock. The committee is expected to evaluate proposals from bidders keen to invest through preferential share route or via revamping the business.
The panel is expected to submit its report by April 26. The board will meet again on April 26 to consider the panel recommendation and take appropriate decision. Thereafter, it will seek the shareholders' approval. The trading window will remain closed till April 28.
