Fortis investors call meet, demand removal of four directors from its board

The exact reason behind the call for removal of the existing members could not be known

In a new twist to the Fortis hospital takeover saga, two large portfolio investors have demanded replacement of the existing board.

East Bridge Capital Master Fund and Jupiter India fund, which own over 12 per cent shares in Fortis Healthcare, served a notice on Wednesday for holding of an extraordinary general meeting to select new members.

The notice was moved a day before the Board meeting to discuss two binding and non-binding offers for investment and stake purchase in the beleaguered hospital chain.

In an exchange notification, Fortis Healthcare said it was evaluating the notice and the same would be placed before the