Page 3 - Fortis Healhcare

Court grants 4 day custody to Fortis ex-promoters in Religare Finvest case

A Delhi court Friday granted the police 4-day custody of former Fortis Healthcare promoters Malvinder Singh, his brother Shivinder and three others, arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL) and causing it losses of Rs 2,397 crore. Chief Metropolitan Magistrate Deepak Sherawat allowed custodial interrogation of the five people arrested by the Economic Offences Wing (EOW) of Delhi Police. Malvinder (46) was arrested on Friday morning while Shivinder (44), Sunil Godhwani (58), the former chairman and managing director of Religare Enterprises Ltd (REL), Kavi Arora (48) and Anil Saxena, who occupied important positions in REL and RFL, were arrested Thursday by the EOW for allegedly diverting the money and investing in other companies.

Delhi HC asks Ranbaxy, Fortis' garnishees to deposit Rs 6,000 crore

Garnishees include former spiritual guru of younger brother Shivinder Mohan Singh, money to be deposited within 30 days

Max Healthcare plans to spin off diagnostic laboratory, home care biz

Radiant is in the process of demerging its health care business into Max Healthcare

Fortis CEO plans to cut spending by 20% to nurse hospital back to health

Even with its bold new plans, Fortis has not yet left its checkered past completely behind

Fortis files suit to recover Rs 520 crore from Malvinder, Shivinder Singh

In October, the Sebi had directed Fortis to take necessary action to recover Rs 403 cr from Singh brothers

Fortis Healthcare turns focus on cost control and consolidation

This is a departure from Fortis' earlier plans that entailed, for example, retail expansion of its diagnostics arm SRL, especially in the southern markets

Whistle-blowers allege Singh brothers sold Fortis, Religare-funded assets

Last August, the High Court had restrained the Singhs from operating bank accounts and selling assets, including art, fixed or movable