SC jails Malvinder and Shivinder Singh for 6 months over contempt

NEW DELHI: The Supreme Court on Thursday awarded a six-month jail term to former promoters of Fortis Healthcare, Malvinder Singh and Shivinder Singh. The case relates to the sale of shares of Fortis to Malaysia-based IHH Healthcare.
A bench headed by Chief Justice Uday Umesh Lalit awarded the six months to the former promoters, who were earlier held guilty of contempt. The top court also ordered a forensic audit of the share sale in Fortis Healthcare. “Everything goes back to the executing court,” the CJI said.
The former promoters of Fortis Healthcare were facing the court battle after a Japanese firm, Daiichi Sankyo, had challenged the Fortis-IHH share deal to recover the Rs 3,600-crore arbitration award that it had won before a Singapore tribunal against the Singh brothers. The IHH-Fortis deal is stuck due to the legal fight between Daiichi and the former promoters of Fortis…

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