Fortis moves Supreme Court against Delhi High Court order
Fortis Healthcare has appealed to the Supreme Court against a Delhi High Court order that mandated a forensic audit of its dealings with IHH Healthcare and RHT Health Trust. The company argues that it was not a party to the original arbitration proceedings involving the Singh brothers.
Why it matters
This legal battle highlights complex corporate governance and liability issues involving international investors and legacy promoter disputes.
In another twist to the protracted battle against Fortis Healthcare and Japan’s Daiichi Sankyo, the former has filed an appeal in the Supreme Court against a recent Delhi high court order requiring a forensic audit of its dealings with IHH Healthcare and RHT Health Trust.The case relates to Daiichi Sankyo’s efforts to enforce its arbitral award against the erstwhile promoters of Fortis Healthcare, Malvinder and Shivinder Singh, and to a complex ownership dispute rooted in a legal battle between the parties.At present, Malaysia-based IHH holds a controlling stake in Fortis Healthcare.
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