Supreme Court has put hold on the sale of the Fortis Healthcare to Malaysia’s IHH as the contempt plea was filed by Daiichi Sankyo against Fortis promoters. The plea was against the Singh brothers and Indiabulls alleging that the two had pledged 1.7 million shares of Fortis Healthcare held by Fortis in spite of court forbidding the same.
Fortis Healthcare had issued 23.53 crores equity share in November by preferential allotment to IHH Healthcare Brehad that helped Malaysian firm take 31.1% stake in the company.
Fortis Healthcare is an integrated healthcare delivery service provider in Asia. The healthcare verticals of the company span primary care, diagnostics, day care specialty and hospitals, with a healthcare network spanning 9 countries.
