Fortis Clarifies Position in Daiichi-Singh Brothers Dispute

Fortis Healthcare has issued a regulatory filing to clarify its stance on the dispute between Daiichi Sankyo and the Singh Brothers, following a Supreme Court order allowing a forensic audit. The healthcare provider stated unequivocally that it is a 'complete stranger' to the underlying disagreement.

According to the filing, Fortis was never a party to the arbitration proceedings that took place between Daiichi Sankyo and the Singh Brothers. This emphasizes the company's position that it is not directly involved in the historical legal battle concerning the sale of Ranbaxy Laboratories.

Furthermore, Fortis asserted that it is neither a judgment debtor nor a garnishee in respect of Daiichi Sankyo’s decree. This statement clarifies that Fortis does not owe money to Daiichi Sankyo as a result of the decree and is not holding funds or assets belonging to the Singh Brothers that could be seized to satisfy the decree.

The Supreme Court's decision to permit a forensic audit underscores the ongoing legal complexities surrounding the dispute, but Fortis maintains its detachment from the core issues.

What to watch: The outcome and implications of the Supreme Court-ordered forensic audit.

Editor's note: The article accurately summarizes the provided regulatory filing excerpt.

This article is AI-generated and fact-gated. Original reporting: ET Healthworld