Fortis Trademark Auction Validated: FHL Secures Rights at Rs 200 Crores, Overcoming Legal Challenges and Valuation Objections

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Full Text of the Document

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....HC held that the auction sale of the Fortis trade mark was valid and fair. The court confirmed the sale to FHL at Rs 200 Crores, rejecting objections to the valuation and auction process. Section 92 of CGST Act was deemed inapplicable to the court auctioneer. Upon sale confirmation, FHL shall become the trade mark owner with full rights, authorized to seek transfer in the trade mark registry. The court directed parties to comply with GST laws and compliance requirements. The sale proceedings will be listed before the Joint Registrar for final confirmation, subject to balance amount payment, with further directions possible if needed.....