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The Hindu
The Hindu
National
Sanjay Vijayakumar

NCLT rejects M.K. Rajagopalan’s plea against ASG Hospital’s bid for Vasan Health Care

NCLT ASG Health Care MGM Healthcare

The National Company Law Tribunal (NCLT), Chennai has rejected a plea by M.K. Rajagopalan, managing director of MGM Healthcare, against selection of ASG Hospital as a winning bidder to buy Vasan Health Care Pvt. Ltd. under the corporate insolvency and resolution process.

The committee of creditors of Vasan Health Care has approved Rajasthan-based ASG Hospital’s ₹520-crore bid for Vasan Health Care, with 97.9% voting in favour. The plan is pending before NCLT for its approval.

Mr. Rajagopalan in his personal capacity was one of the bidders in the process. Dr. Agarwal’s Health Care Ltd. and iLabs India Special Situations Fund were among the other bidders.

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