Shivinder Mohan Singh (L) and Malvinder Mohan Singh have jointly tendered their resignation to the board of Fortis Healthcare, which will discuss it in the meeting on 13 February. File photo: HTNew Delhi: Malvinder Mohan Singh, executive chairman and Shivinder Mohan Singh, non-executive vice-chairman of Fortis healthcare resigned from their posts on Thursday. According to people aware of matter, the Singh brothers could have found a buyer for Fortis healthcare which would infuse money so that they could pay off the lenders. The tribunal had directed the Singh brothers to pay about Rs2,563 crore in damages, plus interest of 4.44% per year from 7 November 2008 to the date of the award. Significantly, the Singh brothers were also recently accused of “diversion, siphoning and digression of assets” by a New York-based investor in a lawsuit filed in the high court of Delhi, Bloomberg News had reported.

Source: Mint February 08, 2018 17:13 UTC