DDA scraps Escorts lease over allotment norms
Express News Service
New Delhi, October 6: THE Delhi Development Authority
has cancelled the land lease for the Escorts Heart
Institute and Research Centre, a deal for which was
struck between the Escorts Group and Fortis Healthcare
for Rs 585 crore a week ago. Sources said the DDA,
which had been awaiting permission from Lt Governor B
L Joshi, will issue the cancellation notice tomorrow.
DDA will demand that Escorts hand over the land and
the hospital. Escorts was sent a show-cause notice
last year for not conforming to freeship norms under
which it was allotted land in 1982, but as a DDA
source put it, the recent sale ??was the last nail in
the coffin?. The Delhi High Court had ordered a status
quo on the deal till November 22, the next hearing on
a petition filed by Escorts scion Anil Nanda
challenging the conversion of the institute from a
charitable organisation to a company...
http://cities.expressindia.com/fullstory.php?newsid=151919
on 29/09/05
--- Gita Dewan Verma <mpisgplanner@xxxxxxxxx> wrote:
> ESCORTS Ltd on Wednesday said that it has sold its
> equity in Escorts Heart Institute and Research
> Centre
> (EHIRC) to Ranbaxy-controlled Fortis Healthcare for
> Rs
> 585 crore... ...
> The deal, however, comes amid stiff resistance from
> Mr
> Rajan Nanda's younger brother Mr Anil Nanda, CMD of
> Goetze India, who moved the Delhi High Court on
> Wednesday to prevent the deal. "I will do whatever I
> can in my capacity to stop this deal and take EHIRC
> back to its original status as a charitable society.
> I
> am even more astonished that Escorts plans to use
> funds derived from the sale of a charitable society
> to
> revive a commercial entity... ...
>
http://www.thehindubusinessline.com/2005/09/29/stories/2005092903000100.htm
>
> ----
> 18/12/2004:
> MR Anil Nanda, the younger brother of Escorts Ltd
> Chairman, Mr Rajan Nanda, has resigned from the post
> of Managing Director in Escorts Ltd. ... ... Company
> officials from both sides meanwhile declined to
> comment on whether the resignation had any
> connection
> with the differences that had come up recently in
> the
> Nanda family over the sell-off of Escorts Heart
> Institute and Research Centre Ltd (EHIRC). ... ...
>
http://www.blonnet.com/2004/02/18/stories/2004021802680100.htm
> ------
> 02/08/2003:
> ... ...the recent fissures that have developed
> between
> Mr Rajan Nanda and his younger brother, Mr Anil
> Nanda,
> seem to be centred around the future course of the
> healthcare business ... ... While the ostensible
> reason for the company's decision was to bring a
> strategic investor, Merlion India Fund, on board to
> generate funds for expansion, Mr Anil Nanda,
> Vice-Chairman and Managing Director, Escorts Ltd,
> fears that the institution will lose its
> "charitable"
> character and "should be reverted to the original
> status of being a charitable institution." Further,
> he
> is of the opinion that divestment allows access to
> the
> corpus of Rs 100-odd crore of EHIRC's tax-exempted
> reserves for an investment of Rs 2 crore by the
> company, according to his spokesperson.
>
http://www.blonnet.com/2003/08/02/stories/2003080202520100.htm
> -------------
>
>
> | Anil Nanda make more PI sense than SocialJurist
> | Recall the 51 cr offer made in court in SJ PIL?
>
>
<http://plan.architexturez.net/site/dmp2021/ncmp/f/040823>
> PIL-driven discourse about free beds and free seats
> has achieved in 2003-2004 what was unthinkable or at
> least unspeakable ? managers of noble professions of
> healthcare and education ignobly violating the law
> of
> land have declared that they would rather be
> mercenary
> than noble and the state, having for long made clear
> that it could not care less, has stooped in the week
> after Independence Day to negotiating the fee for
> abrogating nobility, bargain price for selling the
> city?s health and education resources to those who
> have been violating health and education rights of
> citizens with impunity. Before pushing further its
> mercenary interpretations of facility and charity,
> untenable in law or sense, this historic discourse
> might want to consider how history will judge it.
>
> | Health and education policy developments |
> Facility,
> charity and law | Insidiousness |
>
__________________________________
Yahoo! Mail - PC Magazine Editors' Choice 2005
http://mail.yahoo.com
Express News Service
New Delhi, October 6: THE Delhi Development Authority
has cancelled the land lease for the Escorts Heart
Institute and Research Centre, a deal for which was
struck between the Escorts Group and Fortis Healthcare
for Rs 585 crore a week ago. Sources said the DDA,
which had been awaiting permission from Lt Governor B
L Joshi, will issue the cancellation notice tomorrow.
DDA will demand that Escorts hand over the land and
the hospital. Escorts was sent a show-cause notice
last year for not conforming to freeship norms under
which it was allotted land in 1982, but as a DDA
source put it, the recent sale ??was the last nail in
the coffin?. The Delhi High Court had ordered a status
quo on the deal till November 22, the next hearing on
a petition filed by Escorts scion Anil Nanda
challenging the conversion of the institute from a
charitable organisation to a company...
http://cities.expressindia.com/fullstory.php?newsid=151919
on 29/09/05
--- Gita Dewan Verma <mpisgplanner@xxxxxxxxx> wrote:
> ESCORTS Ltd on Wednesday said that it has sold its
> equity in Escorts Heart Institute and Research
> Centre
> (EHIRC) to Ranbaxy-controlled Fortis Healthcare for
> Rs
> 585 crore... ...
> The deal, however, comes amid stiff resistance from
> Mr
> Rajan Nanda's younger brother Mr Anil Nanda, CMD of
> Goetze India, who moved the Delhi High Court on
> Wednesday to prevent the deal. "I will do whatever I
> can in my capacity to stop this deal and take EHIRC
> back to its original status as a charitable society.
> I
> am even more astonished that Escorts plans to use
> funds derived from the sale of a charitable society
> to
> revive a commercial entity... ...
>
http://www.thehindubusinessline.com/2005/09/29/stories/2005092903000100.htm
>
> ----
> 18/12/2004:
> MR Anil Nanda, the younger brother of Escorts Ltd
> Chairman, Mr Rajan Nanda, has resigned from the post
> of Managing Director in Escorts Ltd. ... ... Company
> officials from both sides meanwhile declined to
> comment on whether the resignation had any
> connection
> with the differences that had come up recently in
> the
> Nanda family over the sell-off of Escorts Heart
> Institute and Research Centre Ltd (EHIRC). ... ...
>
http://www.blonnet.com/2004/02/18/stories/2004021802680100.htm
> ------
> 02/08/2003:
> ... ...the recent fissures that have developed
> between
> Mr Rajan Nanda and his younger brother, Mr Anil
> Nanda,
> seem to be centred around the future course of the
> healthcare business ... ... While the ostensible
> reason for the company's decision was to bring a
> strategic investor, Merlion India Fund, on board to
> generate funds for expansion, Mr Anil Nanda,
> Vice-Chairman and Managing Director, Escorts Ltd,
> fears that the institution will lose its
> "charitable"
> character and "should be reverted to the original
> status of being a charitable institution." Further,
> he
> is of the opinion that divestment allows access to
> the
> corpus of Rs 100-odd crore of EHIRC's tax-exempted
> reserves for an investment of Rs 2 crore by the
> company, according to his spokesperson.
>
http://www.blonnet.com/2003/08/02/stories/2003080202520100.htm
> -------------
>
>
> | Anil Nanda make more PI sense than SocialJurist
> | Recall the 51 cr offer made in court in SJ PIL?
>
>
<http://plan.architexturez.net/site/dmp2021/ncmp/f/040823>
> PIL-driven discourse about free beds and free seats
> has achieved in 2003-2004 what was unthinkable or at
> least unspeakable ? managers of noble professions of
> healthcare and education ignobly violating the law
> of
> land have declared that they would rather be
> mercenary
> than noble and the state, having for long made clear
> that it could not care less, has stooped in the week
> after Independence Day to negotiating the fee for
> abrogating nobility, bargain price for selling the
> city?s health and education resources to those who
> have been violating health and education rights of
> citizens with impunity. Before pushing further its
> mercenary interpretations of facility and charity,
> untenable in law or sense, this historic discourse
> might want to consider how history will judge it.
>
> | Health and education policy developments |
> Facility,
> charity and law | Insidiousness |
>
__________________________________
Yahoo! Mail - PC Magazine Editors' Choice 2005
http://mail.yahoo.com