Saturday, October 1, 2022
For any kind of suggestion or query feel free to mail us at hello@globaldaily.in   Your online source for any kind of news   Welcome to Global Daily
SC jails Malvinder and Shivinder Singh for 6 months over contempt – Times of India

SC jails Malvinder and Shivinder Singh for 6 months over contempt – Times of India

NEW DELHI: The Supreme Court on Thursday awarded a six-month jail term to former promoters of Fortis Healthcare, Malvinder Singh and Shivinder Singh. The case relates to the sale of shares of Fortis to Malaysia-based IHH Healthcare.
A bench headed by Chief Justice Uday Umesh Lalit awarded the six months to the former promoters, who were earlier held guilty of contempt. The top court also ordered a forensic audit of the share sale in Fortis Healthcare. “Everything goes back to the executing court,” the CJI said.
The former promoters of Fortis Healthcare were facing the court battle after a Japanese firm, Daiichi Sankyo, had challenged the Fortis-IHH share deal to recover the Rs 3,600-crore arbitration award that it had won before a Singapore tribunal against the Singh brothers. The IHH-Fortis deal is stuck due to the legal fight between Daiichi and the former promoters of Fortis Healthcare.
In 2018, when some Indian lenders sold the pledged shares of Fortis Healthcare to the Malaysia-based firm, Daichi went to court alleging that the former promoters of Fortis had assured them that their shares in the Indian hospital chain will cover the arbitral award amount.
Fortis Healthcare said in a statement, “We understand that the proceedings before the Supreme Court have concluded with certain directions and the suo motu contempt has been disposed of. We remain committed to our core purpose of patient care and will continue to focus on our strategic and operational objectives to further strengthen and expand our healthcare network. We will keep all our stakeholders informed, as required. ”

Source

Hits: 0

Leave a Reply

Your email address will not be published.

6 + 3 =

Related Posts

Recent Posts

Rahul Gandhi seeks fair compensation for families of Covid victims | India News – Times of India
Rahul Gandhi seeks fair compensation for families of Covid victims | India News - Times of India
Arsenal vs Tottenham Live Streaming: When and where to watch Premier League match London Derby ARS vs TOT in India?
Arsenal vs Tottenham Live Streaming: When and where to watch Premier League match London Derby ARS vs TOT in India?
Mukesh Ambani promises 5G across India by December 2023 – Times of India
Mukesh Ambani promises 5G across India by December 2023 - Times of India
Govt Defers Excise Duty On Petrol till November 1; On Diesel Till April 1 Next Year
Govt Defers Excise Duty On Petrol till November 1; On Diesel Till April 1 Next Year
Bar codes could come soon to plug menace of sub-standard drugs | India News – Times of India
Bar codes could come soon to plug menace of sub-standard drugs | India News - Times of India
Sindhi Separatists Claim Responsibility for Attack on Chinese-origin Couple in Karachi
Sindhi Separatists Claim Responsibility for Attack on Chinese-origin Couple in Karachi
Wait Two Years for the American Dream or Hit Snooze? News18 Explains the 2-Year Delay for US Visa Appointments
Wait Two Years for the American Dream or Hit Snooze? News18 Explains the 2-Year Delay for US Visa Appointments
Celebrity Education Qualification: Neha Kakkar’s Father Used to Sell Samosas, Know why she Left Studies
Celebrity Education Qualification: Neha Kakkar's Father Used to Sell Samosas, Know why she Left Studies
Delhi University to Start Centre for Disabilities Studies
Delhi University to Start Centre for Disabilities Studies
Diego Maradona ‘Hand of God’ shirt to go on display during World Cup | Football News – Times of India
Diego Maradona 'Hand of God' shirt to go on display during World Cup | Football News - Times of India

Archives

Categories

Tags

PHP Code Snippets Powered By : XYZScripts.com