Sebi directs Fortis firms to recover ₹403 cr from Singh brothers, 7 others
- Pending investigation, Singh brothers and the six entities have also been directed not to dispose of any of their assets
- Singh brothers, erstwhile promoters of FHL, have also been asked not to associate themselves with the affairs of FHL and FHsL in any manner
NEW DELHI : Sebi on Tuesday directed Fortis Healthcare Ltd (FHL) and Fortis Hospitals Ltd (FHsL) to continue efforts to recover more than ₹403 crore from Shivinder Mohan Singh and Malvinder Mohan Singh as well as seven other entities. The latest ruling confirms the watchdog's interim order where it had found that Singh brothers along with seven entities diverted ₹403 crore from FHL, for the ultimate benefit of parent company -- RHC Holding Pvt Ltd -- and group company Religare Finvest Ltd.
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