सुप्रीम कोर्ट ने फोर्टिस केस में फॉरेन्सिक ऑडिट को मंजूरी दी

- News

- India News

- Supreme Court allows forensic audit in Fortis case

Trending

NEW DELHI: The Supreme Court on Tuesday upheld a Delhi HC order directing forensic audit of dissipation of shares of Fortis Healthcare Ltd (FHL) and Fortis Healthcare Holdings Pvt Ltd (FHHPL) through 17 banks and financial institutions allegedly to frustrate execution of a decade-old Rs 5,300 crore foreign decree by Daiichi Sankyo against brothers Malvinder and Shivinder Singh.Brushing aside a challenge to the forensic audit order of the HC by senior advocate Shyam Divan, appearing on behalf of Yes Bank and Axis Bank, a bench of CJI Surya Kant and Justices Joymalya Bagchi and V Mohana clarified the forensic audit would not be a roving inquiry against the banks or FIIs but will focus on the transaction of shares of FHL and FHHPL.The bench also chided Daiichi for giving up its plea for forensic audit of the dissipation of shares in the two companies, which was a major window for the banks to argue that HC could not have passed the order for forensic audit when decree holder had given up that plea.Daiichi counsel Arvind Datar told the court that the foreign decree, upheld by SC, had not been implemented for a decade and the plea giving up forensic audit was made due to frustration over the long lapse of time in executing the decree in India.

Join conversation

Share your thoughts in the comments

Be respectful · TOI community guidelines

End of Article

Follow Us On Social Media

Powered by Nyaya 247 News