SC refuses to allow banks to sell Fortis shares pledged by Singh brothers - News Summed Up

SC refuses to allow banks to sell Fortis shares pledged by Singh brothers


Ltd pledged by brothers Malvinder Singh and Shivinder Singh. On 31 August, the apex court refused to permit the Singh brothers, former Ranbaxy Laboratories Ltd promoters, to sell their stake in Fortis Healthcare Ltd. It also refused permission to banks with whom the Singh brothers had pledged Fortis shares to do the same. RHC Holdings has an 80.67% stake in Fortis Healthcare Holdings while Oscar Investment holds the remaining 19.33%. Fortis Healthcare Holdings in turn has a 52.5% stake in Fortis Healthcare, which runs a chain of hospitals.


Source: Mint October 12, 2017 07:30 UTC


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