Auditor Deloitte raises red flag over Fortis Healthcare's financial results

The Fortis board had commissioned law firm Luthra & Luthra to look into alleged financial irregularities

Delhi-headquartered hospital major Fortis Healthcare on Saturday released its audited results for the fourth quarter and financial year 2017-18, which were largely in line with the unaudited numbers announced last week. However, auditor Deloitte Haskins & Sells raised several red flags, including with regard to additional related party transactions. 

The Fortis board is expected to soon announce the potential investor — between Malaysia’s IHH Healthcare and the TPG-Manipal combine, which have placed binding bids to acquire a stake in the financial crisis-hit hospital chain. 

The board members met financial advisers and legal experts on Friday and held a night-long meeting