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Sebi issues notice to Fortis subsidiary in funds diversion case Fortis Healthcare confirmed that this notice was received on Friday
The Securities and Exchange Board of India (Sebi) has issued a notice to Escorts Heart Institute and Research Center Ltd a Fortis Healthcare subsidiary in a case arising from the allegations of fund diversion by the erstwhile promoters.
“Sebi has issued a notice under Rule 4 of Sebi (Procedure for holding inquiry and imposing penalties) Rules, 1995 read with Section 15-I of Sebi Act, 1992 in the matter of Fortis Healthcare Ltd to, among others, Escorts Heart Institute and Research Center Ltd (EHIRCL),” Fortis Healthcare said in a regulatory filing on Friday. Fortis Healthcare added that this notice was received on Friday.
Fortis Healthcare on Friday said its subsidiary, Escorts Heart Institute and Research Center Ltd, has received a notice from capital markets regulator SEBI in the matter related to the alleged diversion of funds from the company by its erstwhile promoters. SEBI has issued a notice under Rule 4 of SEBI (Procedure for holding inquiry and imposing penalties) Rules, 1995 read with Section 15-I of Securities and Exchange Board of India Act, 1992 in the matter of Fortis Healthcare Limited to, among others, Escorts Heart Institute and Research Center Limited (EHIRCL), Fortis Healthcare said in a regulatory filing. Fortis Healthcare on Friday said its subsidiary, EHIRCL, received the notice on April 15, 2021.