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* IN THE HIGH COURT OF DELHI AT NEW DELHI

% Date of decision: 19^th December, 2025

+ CS(COMM) 12/2023 with I.A. 501/2023, I.A. 504/2023, I.A.

505/2023, I.A. 506/2023, I.A. 3223/2023 & I.A. 29094/2025

FORTIS HEALTHCARE LIMITED .....Plaintiff

Through: Mr. H.S. Chandhoke & Mr. Saleem

Hasan Ansari, Advocates.

versus

BALAJI GREAT LOTUS GLORY & ORS. .....Defendants

Through:

CORAM:

HON’BLE MR. JUSTICE AMIT BANSAL

AMIT BANSAL, J. (Oral)

CS(COMM) 12/2023 and I.A. 29094/2025 (under Order XIII-A of the

Code of Civil Procedure, 1908)

1. The present suit has been filed inter alia seeking the following reliefs:

(a) declaration that the Term Sheet dated 6^th December 2017

(hereinafter ‘Term Sheet’) and Side Letters dated 6^th December 2017

(hereinafter ‘Side Letters’) are non-est and void;

(b) declaration that any assignment of rights and obligations under

the Master Settlement Agreement dated 26^th September 2020

(hereinafter ‘Master Settlement Agreement’) including those in

relation to the Term Sheet and Side Letters is non-est and void; and

Signature Not Verified

Digitally Signed CS(COMM) 12/2023 Page 1 of 10

By:VIVEK MISHRA

Signing Date:22.12.2025

16:53:18

(c) perpetual injunction restraining the defendants from acting

upon the purported assignment of rights and obligations under the

aforesaid Master Settlement Agreement in relation to the plaintiff or

the Term Sheet or Side Letters.

CASE SET UP BY THE PLAINTIFF

2. The plaintiff is a listed public company engaged in the business of

health delivery services. The defendants no.1 to 9 are various trusts/

companies, details of which are given in paragraphs 3 to 11 of the plaint.

The defendant no.10 is John Doe.

3. The defendants no.3, 4, 6, 8 and 9 are group companies having

common directors and/ or registered office.

4. Around August-September 2017, the defendant no.2 sought to invest

in the plaintiff for acquisition of one RHT Health Trust pursuant to which, a

non-binding Term Sheet dated 26^th September 2017 (hereinafter ‘NBTS’)

was executed between the plaintiff and the defendant no.2. The NBTS

lapsed by efflux of time.

5. Between 3^rd December 2017 and 6^th December 2017, the

representative of the plaintiff and the defendant no.2 prepared a draft Term

Sheet. However, the said draft Term Sheet was not executed on behalf of the

plaintiff.

6. The plaintiff, on 16^th May 2018, received an email from counsel for

the defendant no.2 containing an attachment of the draft Term Sheet, which

did not bear the signature of Mr. Bhavdeep Singh, the erstwhile CEO of the

plaintiff.

7. The defendant no.4, in February 2018, filed a civil suit bearing no.

CS-DJ-171 of 2018 titled Participation Finance & Holding (India) Pvt.

Signature Not Verified

Digitally Signed CS(COMM) 12/2023 Page 2 of 10

By:VIVEK MISHRA

Signing Date:22.12.2025

16:53:18

Ltd. v. RHC Holding Pvt. Ltd. & Ors. before the District Court, Patiala

House, New Delhi seeking declaratory reliefs against the plaintiff and

certain other defendants. In the said suit, on 4^th July 2018, the defendant

no.2, through the defendant no.3, moved an application for impleadment

along with a copy of the Term Sheet, which did not bear the signature of Mr.

Bhavdeep Singh. The said suit was dismissed for non-prosecution vide order

dated 24^th November 2023.

8. The Term Sheet with the fabricated signature of Mr. Bhavdeep Singh

was brought to the knowledge of the plaintiff for the first time when the

defendant no.2 filed a complaint dated 3^rd October 2018 against the plaintiff

with Securities Exchange Board of India, National Stock Exchange and

Bombay Stock Exchange.

9. In May 2019, the defendant no.2, on the basis of the Term Sheet and

the Side Letters, filed a petition under Section 9 of the Arbitration and

Conciliation Act, 1996 (hereinafter ‘Arbitration Act’), being

O.M.P.(I)COMM 170/2019, inter alia seeking a security of Rs. 490 crores

from the plaintiff. In the said petition, the affidavit dated 24^th July 2019 of

Mr. Prabhat Kumar and affidavit dated 30^th October 2019 of Mr. Bhavdeep

Singh were filed stating