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Board evaluating Sebi penalty of Rs 1 crore, says Fortis Healthcare

Market regulator SEBI slapped a fine on Fortis Healthcare subsidiaries on account of fund diversion by erstwhile promoters

IHH Healthcare makes open offer for Fortis Malar at Rs 60 per share
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Sohini Das Mumbai
In response to market regulator Sebi’s order dated May 18 related to alleged fund diversion by erstwhile promoters of Fortis Healthcare (FHL), the company said that the Board is now evaluating the order in detail, in consultation with legal advisors.

Fortis also noted that the order was in respect of Escorts Heart Institute and Research Centre limited (EHIRCL), a wholly owned subsidiary of FHL. “The management and Board of the Company that was newly constituted after NTK Ventures Pte Ltd. became promoters of the Company, are evaluating the Order in detail, in consultation with their legal advisors,” Fortis said in

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First Published: May 20 2022 | 2:02 PM IST

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