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Under the agreement, Glocal will secure a $37.5 million claim in UpHealth’s liquidation. In exchange, it will pay $10 million
The Calcutta High Court
The Calcutta High Court has cleared a major settlement between Indian digital healthcare pioneer Glocal Healthcare Systems Pvt Ltd and US-based UpHealth Holdings Inc, ending a long-running, multi-jurisdictional legal battle worth millions of dollars.
The approval mirrors an order passed on September 11, 2025, by the US Bankruptcy Court for the District of Delaware, where UpHealth Holdings Inc. is undergoing bankruptcy proceedings.
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Under the agreement, Glocal will secure a $37.5 million claim in UpHealth’s liquidation. In exchange, it will pay $10 million, including for the acquisition of UpHealth’s remaining equity stake, resulting in a net value gain of $27.5 million for Glocal.
Crucially, the deal wipes out the $110 million arbitral award previously granted to UpHealth against Glocal. It also releases all of UpHealth’s claims over Glocal’s assets, shareholding, and intellectual property, enabling both companies to part ways entirely and pursue separate strategies.
In March 2024, an ICC arbitral tribunal comprising VK Rajah, Carolyn Lamm and Promod Nair had awarded $110 million in UpHealth’s favour. Glocal contested enforcement before the Calcutta High Court, arguing that shareholder disputes could not be privately arbitrated under Indian law, alleging fraud, and claiming the tribunal had become functus officio after exceeding its time limit by over 400 days.
Friday’s settlement ends these protracted proceedings across India and the United States.
For Dr Syed Sabahat Azim, Glocal’s founder and a former IAS officer, and shareholders, including former SEBI chairman M Damodaran, the resolution is being hailed as a major vindication.
Glocal, recognised for its pioneering Digital Dispensaries, received the UN Innovation Award (2020) and the Schwab Foundation Award by the World Economic Forum, underscoring its role in expanding global healthcare access.
In India, Glocal was represented by Chambers of Rushab Aggarwal and Aquilaw, while UpHealth was represented by P&A Law Offices. In the US, Glocal was advised by Sidley Austin LLP, and UpHealth by DLA Piper.
In his order, Justice Sabyasachi Bhattacharyya of the Calcutta High Court commended the lawyers on both sides for facilitating the resolution of the dispute.
About the Author
Ananya Bhatnagar, Correspondent at CNN-News18, reports on various legal issues and cases in lower courts and the Delhi High Court. He has covered the hanging of the Nirbhaya gang-rape convicts, JNU violence, De…Read More
Ananya Bhatnagar, Correspondent at CNN-News18, reports on various legal issues and cases in lower courts and the Delhi High Court. He has covered the hanging of the Nirbhaya gang-rape convicts, JNU violence, De… Read More
September 20, 2025, 13:28 IST
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