Singh brothers get 6-month jail term in Fortis-Daiichi Sankyo case

When the brothers did not pay the arbitral award enforced by the Delhi High Court, Daiichi had filed a special leave petition in the apex court in 2018

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While analysts have maintained a cautious stance on Fortis Healthcare, the hospital group said on Thursday that it would be seeking legal advice for the future course of action

Bhavini MishraSohini Das New Delhi/Mumbai
The Supreme Court on Thursday awarded a six-month jail term to Malvinder Singh and Shivinder Singh, former promoters of Fortis Healthcare, in a case filed by Japanese firm Daiichi Sankyo and ordered a forensic audit of the Fortis-IHH deal. 

The apex court also remanded the matter to the Delhi High Court while continuing the stay on the IHH open offer.  

The Singh brothers were sentenced after civil detention proceedings for failing to comply with the court’s orders to pay an arbitral amount to Daiichi. The top court had registered a ‘contempt of court’ case against them in 2019, asking why

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First Published: Sep 22 2022 | 11:49 AM IST

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