Fortis Healthcare director resign
New Delhi: Fortis Healthcare has announced that one of its independent directors, Joji Gill, stepped down due to ‘personal reasons’.
“Ms Joji Sekhon Gill has tendered her resignation from the directorship of the company with effect from March 7 due to personal reasons, primarily attributed to her occupation in job-related responsibilities,” said Rahul Ranjan, company secretary in a statement.
“Due to my job-related responsibilities, I am unable to give suitable time to perform my duties as a board member and as committee member going forward,” according to Joji Gill resignation email.
Medical Dialogues had earlier reported that Fortis Healthcare promoters Malvinder Mohan Singh and Shivinder Mohan Singh had resigned as directors from the company’s board following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo.
The Delhi High Court had on January 31 upheld an international arbitral award of Rs 3,500 crore passed in favour of Japanese pharma major Daiichi Sankyo, which has alleged that the former promoters of India’s Ranbaxy Laboratories had concealed information about proceedings against them by American food and drug department.
There have been media reports alleging that Singh brothers took at least Rs 500 crore ($78 million) out of the publicly-traded hospital company they control without board approval about a year ago. It is alleged that the company transferred funds from its own accounts to an entity controlled by the promoters without board approval.