Business Standard

Not impacted by HC order: Fortis Healthcare


Press Trust of India New Delhi
Fortis Healthcare and Religare Enterprises today said they have not been impacted by the Delhi High Court order directing attachment of all debt-free assets of their promoters Singh brothers.

The two companies in separate filings to the BSE said that they are not party to the arbitration or ongoing proceedings in the Delhi High Court related to the Daiichi-Sankyo row.

"... the company was not a party to the arbitration and /or is not a party to ongoing proceedings in the Delhi High Court and as such is not impacted by its outcome," Fortis Healthcare said in a filing to BSE.

Also, the outcome of the proceeding does not have any material direct impact on the company or its operations, it added.

Religare also said it is not a party to ongoing proceedings in the Delhi High Court and as such is not involved or impacted by its outcome.

Further, the proceedings do not have any ad-inerim or interim order passed against or in favour of the company, the filing said.

Religare and Fortis Healthcare were responding to the clarification sought by the BSE with reference to media reports that said HC ordered attachment of Singh brothers' assets in Daiichi-Ranbaxy row.

Shares of Fortis Healthcare today closed at Rs 155.70 per scrip on BSE, down 2.44 per cent from previous close. Religare Enterprises closed at Rs 57.95 per scrip on BSE, down 2.77 per cent from its previous close.

The Delhi High Court yesterday ordered the attachment of all unencumbered assets of two holding companies of former promoters of India's Ranbaxy Laboratories Ltd to execute the Rs 3,500 crore arbitral award won by Japanese pharma major Daiichi Sankyo.

Justice Jayant Nath issued the warrants for attaching the unencumbered assets of RHC Holdings Pvt Ltd and Oscar Investments Pvt Ltd and directed former Ranbaxy promoters and brothers, Malvinder Singh and Shivinder Singh, and 10 others to file within 10 days a list of their unencumbered assets.

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First Published: Feb 27 2018 | 10:05 PM IST

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