The Supreme Court asks for details of all encumbrances created on Fortis Healthcare s shares. Supreme Court (File photo) | Photo Credit: IANS
Key Highlights
Daiichi claims documents show that banks sold shares, allowed Singh bros to do so
SC: How Rs 4,666 crore went out of Fortis Healthcare Holdings, with whose nod, at what juncture?
The Supreme Court will pass orders tomorrow on what details banks need to give pertaining to the Fortis Healthcare-IHH Berhad deal. The court will decide which all documents banks will have to provide to explain their role in the transfer of Fortis Healthcare s shares to IHH Berhad.
Singh Bros claim they wanted to pay money back to Daiichi, but court orders restrained them. Supreme Court | Photo Credit: IANS
Key Highlights
Daiichi Sankyo wants enforcement of Rs. 3500 cr arbitral award, payment by Singh Bros
Daiichi Sankyo has accused brothers Malvinder Singh and Shivinder Singh of colluding with Malaysian Healthcare giant IHH Berhad to sell their 31% stake in Fortis Healthcare for Rs. 4000 crores. Appearing for Daiichi, senior lawyer Mukul Rohatgi submitted that the Singh brothers kept giving written assurances to courts that they won t dilute their stake or alienate unencumbered shares while they secretly finalised the deal with IHH Berhad.