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Fortis Healthcare to divest Fortis Malar Hospital, Chennai to MGM Healthcare for Rs 128 Cr biospectrumindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospectrumindia.com Daily Mail and Mail on Sunday newspapers.
Fortis Healthcare to divest Fortis Malar Hospital, Chennai to MGM Healthcare for Rs 128 Cr biospectrumindia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biospectrumindia.com Daily Mail and Mail on Sunday newspapers.
Market regulator Securities and Exchange Board of India (SEBI) has imposed a monetary penalty of Rs 5 crore each on brothers Malvinder Singh and Shivinder Singh in the Fortis Healthcare matter while also barring the Singh brothers from the securities market for a period of three years. ....
SEBI issues notice to Fortis Healthcare subsidiary over diversion of funds April 16, 2021 Former promoters Singh brothers allegedly siphoned-off ₹500 crore Leading hospital chain Fortis Healthcare (FHL) disclosed on Friday that its subsidiary, Escorts Heart Institute and Research Center (EHIRCL), has received a notice for penalty proceedings from markets regulator SEBI in the matter involving diversion of funds. Under scanner FCL was under investigation for diverting more than ₹500 crore to its erstwhile promoters Shivinder and Malvinder Singh. SEBI has been probing FHL since 2018 and a show-cause notice was issued to the firm and its wholly-owned subsidiary, Fortis Hospitals, last year. It was alleged that in 2018, the former promoters of FHL took at least ₹500 crore out of the company and the statutory auditors had refused to sign on the company s second-quarter results until the funds were accounted for. ....