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The ongoing legal woes of beleaguered promoters Malvinder Singh and Shivinder Singh may cast a shadow on the acquisition of Fortis Healthcare by IHH Healthcare Berhad. The Delhi High Court on Wednesday issued a notice to Fortis Healthcare, on a plea by Japanese drug maker Daiichi Sankyo, to restrain the share sale transaction. The next hearing of the case is slated for August 1.
The high court did not pass a stay order on the transaction. It, however, observed that the court will reverse the transaction if it finds Fortis muddying waters. The court has issued an injunction on sale
