Amid insolvency bid, Former Fortis promoter Shivinder Singh hints at fresh start: ‘Building from scratch again’

Erstwhile billionaire and former promoter of Fortis Healthcare, Religare and Ranbaxy Laboratories, Shivinder Mohan Singh, has signalled a fresh comeback in the healthcare sector through a reflective and “open-ended invitation” shared on LinkedIn. The post—shaped more like an invitation than a formal job advert—emerges even as Singh deals with a challenging legal and financial phase, including a personal insolvency plea.

In the post, Singh writes that “the making of a great business has a prerequisite; a clear vision, unwavering purpose, systemic values and the right kind of people with a good work ethic.”

He notes that he is preparing for “another innings in healthcare” with greater experience and a “deeper resolve,” shaped by what he describes as the humbling events of the past decade.

Singh says he is looking for “one sharp, young professional” to work closely with him—someone who thinks clearly under pressure, communicates crisply, is curious, resourceful and discreet, and can balance both detail and direction.

The role, he notes, will be “intense, unstructured and deeply rewarding,” offering a ringside view of building an organisation from scratch and collaborating with leading minds in the healthcare sector.

The invitation has drawn significant engagement on LinkedIn, with netizens welcoming his return and endorsing the opportunity.

Messages include:

“Welcome back sir. All the best for the second innings… God bless you.”

“I played exactly that role more than a decade ago… those years were truly character-building. I wholeheartedly recommend this position.”

“This is truly inspiring. Looking forward to watching you build impact from scratch again.”

“It would be our privilege to work alongside you.”

Legal and financial backdrop

Singh’s announcement comes even as he has moved the National Company Law Tribunal (NCLT) seeking personal insolvency.

Earlier this week, he filed a plea under Section 94 of the Insolvency and Bankruptcy Code (IBC), asserting that his liabilities far exceed his current assets. The matter was briefly heard by a two-member bench comprising Mahendra Khandelwal and Subrata Kumar Dash and has been posted for the next hearing on 20 May.

According to filings, Singh’s financial distress stems primarily from:

A recovery claim of over ₹3,500 crore awarded to Japanese pharma major Daiichi Sankyo in arbitration.

Attachment and disposal of assets in connection with ongoing enforcement proceedings.

Financial mismanagement and liabilities linked to RHC Holding Pvt. Ltd., where he served as a corporate guarantor.

Singh has stated in his plea that most of his assets have either been seized or liquidated at significantly reduced value due to prolonged litigation and enforcement actions.