Business Medical Dialogues
    • facebook
    • twitter
    Login Register
    • facebook
    • twitter
    Login Register
    • Medical Dialogues
    • Speciality Dialogues
    • Education Dialogues
    • Medical Jobs
    • Medical Matrimony
    • MD Brand Connect
    Business Medical Dialogues
    • News
        • Financial Results
        • Hospitals & Diagnostics
        • IT / Health Venture
        • Implants / Devices
        • Insurance
        • Key Movement
        • Pharmaceuticals
        • Policy
        • Technology
        • pharma-news
    • blog
    LoginRegister
    Business Medical Dialogues
    LoginRegister
    • Home
    • News
      • Financial Results
      • Hospitals & Diagnostics
      • IT / Health Venture
      • Implants / Devices
      • Insurance
      • Key Movement
      • Pharmaceuticals
      • Policy
      • Technology
      • pharma-news
    • blog
    • Home
    • Editors Pick
    • Fortis tightens...

    Fortis tightens financial noose around Singh brothers; likely to move Delhi HC

    Farhat NasimWritten by Farhat Nasim Published On 2019-05-11T17:43:37+05:30  |  Updated On 2021-10-18T15:57:44+05:30
    Fortis tightens financial noose around Singh brothers; likely to move Delhi HC

    New Delhi: Surrounded by controversies, Singh brothers is likely to face judicature as Fortis Healthcare Ltd (FHL) plans to a reach out to the Delhi High court seeking to recover Rs 403 crore, which was allegedly drained off from Fortis by its ex promoters, suggests a media report.


    As per a recent report by Live mint, FHL plans to ask the court that if any direction related to payment of the award is taken.


    The move comes following the Securities and Exchange Board of India's (SEBI) order dated October 17 wherein the board had directed FHL and Fortis Hospitals to take necessary steps to recover Rs 403 crore, along with interest, from Shivinder Mohan Singh, Malvinder Mohan Singh and seven other entities within three months.


    Medical Dialogues had earlier reported that SEBI, through an order passed in October last year, had asked Fortis Healthcare to recover the amount after the two companies made representation to the markets regulator.




    However, with the allotted deadline being missed, FHL is likely to approach the court in an ongoing case by Japanese drugmaker Daiichi Sankyo Inc., reports Mint.


    Prior to this, FHL had opted for legal intervention by writing to the market regulator, Securities and Exchange Board of India(Sebi). The company in its plea had asked Sebi to initiate the probe and arrest Malvinder Mohan Singh and Shivinder Mohan Singh over non-payment of dues worth Rs 472 crore.


    In an application to Sebi for the recovery of the amount, FHL and Fortis Hospitals had asked for the invocation of Section 28 A of the Act to recover the amounts from Malvinder Mohan Singh, Shivinder Mohan Singh, RHC Holdings Pvt Ltd, Shivi Holdings Pvt Ltd, Malav Holdings Pvt Ltd, Religare Finvest Ltd, Best Healthcare Pvt Ltd, Fern healthcare Pvt Ltd and Modland Wears Pvt Ltd.



    Court Daiichi against Singh brothers Daiichi Sankyo Delhi Delhi high court FHL Fortis Fortis Delhi Fortis Healthcare Fortis Singh brothers Malvinder Singh Ravi Rajagopal SEBI Sebi order against Fortis Shivinder Singh Singh brothers 
    Source : with inputs

    Disclaimer: This site is primarily intended for healthcare professionals. Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription. Use of this site is subject to our terms of use, privacy policy, advertisement policy. © 2020 Minerva Medical Treatment Pvt Ltd

    Farhat Nasim
    Farhat Nasim

      Farhat Nasim joined Medical Dialogue an Editor for the Business Section in 2017. She Covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She is a graduate of St.Xavier’s College Ranchi. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751 To know about our editorial team click here

      Show Full Article
      Next Story
      Similar Posts
      NO DATA FOUND

      Popular Stories

      After Abbott, two more Stent makers seek withdrawal of New Gen Stents

      After Abbott, two more Stent makers seek withdrawal of New Gen Stents

      Sterling Biotech Bank Fraud: ED seize assets including business jet, ships, oil rings worth over Rs 9700 crore

      Sterling Biotech Bank Fraud: ED seize assets including business jet, ships, oil rings worth over Rs...

      3.36% of about 82,600 drugs samples found to be substandard

      3.36% of about 82,600 drugs samples found to be substandard

      Bring Cataract Lenses, Syringes, IV Fluid Sets, Urine Bags under Price Ceiling: Maha Govt tells Health Ministry

      Bring Cataract Lenses, Syringes, IV Fluid Sets, Urine Bags under Price Ceiling: Maha Govt tells...

      Johnson n Johnson ties up with CSIR-IMTECH to Develop Innovative Tuberculosis Treatments

      Johnson n Johnson ties up with CSIR-IMTECH to Develop Innovative Tuberculosis Treatments

      Johnson and Johnson must pay 4 million dollar in punitive damages in latest asbestos cancer trial

      Johnson and Johnson must pay 4 million dollar in punitive damages in latest asbestos cancer trial

      Johnson & Johnson Risperdal Lawsuit: US Court Slashes USD 8 Billion Verdict

      Johnson & Johnson Risperdal Lawsuit: US Court Slashes USD 8 Billion Verdict

      Covid-19 Impact: NPPA asks drugmakers to submit availablility data of 58 APIs, details

      Covid-19 Impact: NPPA asks drugmakers to submit availablility data of 58 APIs, details

      View All

      • Email: info@medicaldialogues.in
      • Phone: 011 - 4372 0751

      Website Last Updated On : 27 May 2022 6:45 AM GMT
      Company
      • About Us
      • Contact Us
      • Our Team
      • Reach our Editor
      • Feedback
      • Submit Article
      Ads & Legal
      • Advertise
      • Advertise Policy
      • Terms and Conditions
      • Privacy Policy
      • Editorial Policy
      • Comments Policy
      • Disclamier

      This website is certified by Health On the Net Foundation. Click to verify. This site complies with the HONcode standard for trustworthy health information:
      verify here.

      Search only trustworthy HONcode health websites:

      Medical Dialogues is health news portal designed to update medical and healthcare professionals but does not limit/block other interested parties from accessing our general health content. The health content on Medical Dialogues and its subdomains is created and/or edited by our expert team, that includes doctors, healthcare researchers and scientific writers, who review all medical information to keep them in line with the latest evidence-based medical information and accepted health guidelines by established medical organisations of the world.

      Any content/information on this website does not replace the advice of medical and/or health professionals and should not be construed as medical/diagnostic advice/endorsement or prescription.Use of this site is subject to our terms of use, privacy policy, advertisement policy. You can check out disclaimers here. © 2020 Minerva Medical Treatment Pvt Ltd

      © 2020 - Medical Dialogues. All Rights Reserved.
      Powered By: Hocalwire
      We use cookies for analytics, advertising and to improve our site. You agree to our use of cookies by continuing to use our site. To know more, see our Cookie Policy and Cookie Settings.Ok
      X
      X