Systemic lapses found in inter-corporate borrowings: Fortis Healthcare4 min read . Updated: 27 Jun 2018, 12:10 PM IST
Fortis Healthcare has initiated legal action for recovery of these outstanding ICDs and other advances
New Delhi: Fortis Healthcare said on Wednesday that “systemic lapses" were found in certain inter-corporate deposits (ICDs) given by its arm Fortis Hospitals Ltd that were used by borrowers for granting or repaying loans to certain additional entities whose directors are connected to its erstwhile promoters, the Singh brothers.
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