Diabytes
Malvinder Singh News
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The ED recently arrested him in a fresh case under the PMLA related to cheating former Religare promoter Malvinder Singh`s wife Japna.
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Fortis in August 2018 had applied for reclassification of these promoters. Post reclassification, Northern TK Venture Pte Ltd remains the promoter of the firm with a 31.17 percent stake in the healthcare firm.
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The bench asked the Singh brothers to appear before it on March 28 and submit the plan.
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A two-member bench of NCLT headed by its Chairman Justice M M Kumar Friday allowed Shivinder to withdraw his plea.
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Singh brothers had resigned as directors from Fortis board in February this year following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo.
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The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23.
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Ranbaxy Laboratories Ltd had allegedly concealed information about proceedings against them by American food and drug department.
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Shares of Fortis Healthcare slumped nearly 13 percent on Friday after Malaysia's IHH Healthcare Berhad said it is not close to "concluding any negotiations" to buy controlling stake in the company.
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Just a day after new about former Ranbaxy promoters Malvinder Singh and Shivinder Mohan Singh getting fined in tune of Rs 2,562 crore by an arbitration court in Singapore as a punishment for hiding facts from the buyers Daiichi Sankyo, the Japanese company has claimed that the fine amount is about Rs 3,500 crore.
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Fortis Healthcare Executive Vice-Chairman Shivinder Mohan Singh is stepping down from his position to join a philosophical and spiritual organisation Radha Soami Satsang Beas headquartered near Amritsar.
Leading healthcare delivery provider Fortis on Monday announced sale of its Singapore-based healthcare services facility RadLink-Asia Pte Ltd to Fullerton Healthcare group for $83.5 million (Rs.531 crore).
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