SC stalls Fortis sale over Daiichi's pleas against Singh brothers

Fortis Healthcare's shares fell by almost 14 per cent following the SC order putting the company's sale on hold

The Supreme Court on Friday put on hold the sale of Fortis Healthcare following Japanese drugmaker Daiichi-Sankyo's contempt plea against the Singh brothers and Indiabulls, alleging that the two created encumbrances on 1.2 million shares of Fortis Healthcare held by Fortis Healthcare Holding, despite the court’s orders against it. The apex court's decision resulted in Fortis Healthcare's shares dropping as much as 14 per cent to Rs 130 apiece on the National Stock Exchange (NSE) in the intra-day trade. On a year-to-date (YTD) basis, the stock has slipped 5.5 per cent. At 11:35 am, the stock was trading at Rs