SC asks lenders to ex-Fortis promoters to explain share sale to IHH despite curbs
The Court has asked the lenders to disclose the details of the Fortis Healthcare shares sold by them since January 2017, by February 22.
The Supreme Court has asked 17 lenders to ex-Fortis promoters Malvinder Singh and Shivinder Singh to explain why they (lenders) sold shares of Fortis Healthcare to Malaysia-based IHH Healthcare, despite restrictions on the same by the Delhi High Court and Supreme Court. The 17 lenders include Yes Bank, Axis Bank, Kotak Mahindra Investment, and Indiabulls.
The Court has asked the lenders to disclose the details of the Fortis Healthcare shares sold by them since January 2017, by February 22.
In July 2018, IHH had bought a 31 percent stake in Fortis Healthcare for Rs 4000 crore.
—This story will be updated with more details
(Edited by : Ajay Vaishnav)
First Published: Feb 18, 2021 11:54 AM IST
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