Max Healthcare had earlier approached the High Court on May 3 this year to protect its rights under the term sheet signed with Care Hospitals and Touch Healthcare, Quality Healthcare and Evercare Group Management, to acquire the hospital chain.
Quality Care is the company that operates Care Hospitals, while Touch Healthcare and Evercare are part of the US-headquartered fund TPG.
Max’s filed a petition under Section 9 of the Arbitration and Conciliation Act to protect its contractual rights before commencement of the arbitration proceedings.
Source: Barandbench
