Date: September 27, 2026

Legal Proceedings Update

Supreme Court Order Details

The Hon'ble Supreme Court disposed of a Special Leave Petition (SLP) filed by Fortis Healthcare Limited challenging the order dated August 31, 2026 passed by the Hon'ble Delhi High Court in the matter of Daiichi Sankyo Company, Limited vs. Malvinder Mohan Singh & Ors.

  • The Supreme Court order dated September 25, 2026 allows the forensic audit to proceed
  • The Court expressly clarified that various paragraphs in the Delhi High Court Judgment, including specific paragraphs identified by the Court, containing observations challenged by the Company are "tentative and only for the purpose of making out a case for forensic audit"
  • The Supreme Court stated: "It goes without saying that the forensic audit shall be conducted independently, without being influenced by the abovementioned observations"
  • The various paragraphs of the Judgment shall not influence the conduct or outcome of the forensic audit
  • The forensic audit is required to be conducted independently of all such observations

Company's Position and Background

The company emphasized several key points:

  • The Company is a complete stranger to the underlying dispute between Daiichi Sankyo and the Singh Brothers
  • The Company was never a party to the arbitration proceedings between Daiichi Sankyo and the Singh Brothers
  • The Company is neither a judgment debtor nor a garnishee in respect of Daiichi Sankyo's decree
  • As a public listed company, Fortis had no power or ability to control the transfer of shares by its erstwhile promoters
  • The Company received no monies or proceeds on account of the dissipation of the erstwhile promoters' shareholding
  • The Singh Brothers' shareholding reduced to less than 1% and they resigned from the Board of Directors by March 2018
  • Institutional shareholders appointed reputable independent directors following the Singh Brothers' departure
  • In June 2018, the independent Board undertook a competitive bidding process with guidance from reputable investment bankers and legal advisors
  • Investment by Northern TK Venture Pte. Ltd. (part of IHH Healthcare Berhad group) was through fresh issuance of equity shares in November 2018
  • The investment received all statutory and regulatory approvals including from CCI, SEBI, stock exchanges, and shareholders
  • The investment occurred several months after the Singh Brothers had ceased to have any relationship with the Company
  • The investment did not involve any transfer of shares from the Singh Brothers

Current Status and Governance

  • The Hon'ble Delhi High Court has not imposed any liability, penalty or fine on the Company
  • The Company expresses confidence that an independent forensic audit will attest to the facts presented
  • The Company remains committed to highest standards of corporate governance, transparency and regulatory compliance
  • The Company continues focused on operations and interests of all stakeholders
  • The Company highlights its successful turnaround since 2018 under new Promoter shareholder Northern TK Venture Pte. Ltd.