[Daiichi v. Singh Brothers] Supreme Court seeks details from banks/ financial institutions on shares of Fortis sold/ encumbered from 2017

The Court further directed the banks to place on record the basic documents pertaining to loans advanced or financial accommodations extended in respect of which the shares of FHL were pledged with them.
[Daiichi v. Singh Brothers] Supreme Court seeks details from banks/ financial institutions on shares of Fortis  sold/ encumbered from 2017
Supreme Court Chambers

The Supreme Court on Thursday ordered seventeen banks and financial institutions, which had lent money to Fortis Healthcare Limited (FHL) promoters, Malvinder Singh and Shivinder Singh, to give details of shares of FHL standing in the name of Fortis Healthcare Holding Private Limited (FHHPL) which were sold by them starting from January, 2017 despite an order by the Supreme Court directing status quo as regards shareholding of FHHPL in FHL (Daiichi Sankyo Company Limited v. Oscar Investments Limited).

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