 "Fortis plea: Supreme Court defers hearing against stake sale to February 6")
The Supreme Court (SC) on Monday deferred to February 6 a hearing in Fortis Hospital's appeal seeking modification of a December 14 order in which the top court had directed a stay on the stake sale of the hospital chain to IHH Healthcare Berhad, Malaysia.
The Supreme Court on December 14 had ordered a status quo on an application moved by Daiichi Sankyo.
In its petition before the SC, Daiichi-Sankyo had alleged that the Singh brothers and Indiabulls had created fresh encumbrances for nearly 1.7 million shares of the total 2.3 million shares that were left after the top court’s order. Of these, while Indiabulls had created encumbrances for 1.2 million shares, the rest had either been created by Singh brothers or third parties.
The Supreme Court on December 14 had ordered a status quo on an application moved by Daiichi Sankyo.
In its petition before the SC, Daiichi-Sankyo had alleged that the Singh brothers and Indiabulls had created fresh encumbrances for nearly 1.7 million shares of the total 2.3 million shares that were left after the top court’s order. Of these, while Indiabulls had created encumbrances for 1.2 million shares, the rest had either been created by Singh brothers or third parties.
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