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The top court issued notice to the standing counsel of the Delhi government and posted the plea for hearing at 1 pm.
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The case relates to the diversion of funds to the tune of Rs 2,473.66 crore of Religare Finvest Ltd (RFL), a subsidiary of Religare Enterprises Ltd (REL), during FY 2014-15 till FY 2017-18, in the garb of loans through layers of entities for the ultimate benefits of entities controlled by the erstwhile promoters -- Singh brothers.
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In a case involving Fortis Healthcare, the Securities Appellate Tribunal (SAT) has ordered businessman Malvinder Mohan Singh and Malav Holdings to deposit 50% of the penalty amount levied by markets regulator Sebi within six weeks.
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The regulator has directed the two companies to 'initiate steps to recall all the loans amounting to Rs 2,315.09 crore' along with due interest within three months.
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In a BSE filing, the company informed "re designation of Sunil Godhwani as Whole Time Director and CEO of the company for the remaining period of tenure." The decision was taken at the company's AGM, which was presided over by Malvinder Mohan Singh, Non Executive Chairman, Religare Enterprises Ltd.
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Besides, the hospital chains said that in order to make healthcare affordable and accessible to all, the government should work with private third party insurance players to reduce out of pocket spending by citizens.
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"Fiscal space is limited and that is where they we need to be innovative... What we need to collectively do is to come up with a innovative framework that enables to do what can be done with limited resources," he said at the India Health Summit organised by CII.
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Facing arbitration claims here by Daiichi Sankyo, Ranbaxy's former Indian promoters are counting on 'representations and warranties' made in the share purchase agreement signed with the Indian drugmaker's current Japanese owners in 2008.
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On September 30, 2013 Mehta & Mehta Real Estate Pvt Ltd bought 40,44,000 shares of Religare Enterprises at Rs 345.
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On September 19, 2013 Malvinder Mohan Singh sold 60,41,875 shares of Religare Enterprises at Rs 352 Shivinder Mohan Singh sold 31,20,000 shares at Rs 352 on the NSE
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Ranbaxy Laboratories was started by two Indians Ranjit Singh and Gurbax Singh. Ranbaxy pleaded guilty to felony charges related to drug safety and agreed to pay $500 million in civil and criminal fines under a settlement with the US Department of Justice.
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Malvinder Singh ,the ex- promoter of Ranbaxy claims that Daiichi Sankyo's allegations are baseless. He denied that they concealed any fact or falsify any data.
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Malvinder Mohan Singh, Chairman, Fortis Healthcare, spoke about his sectors' expectations.
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Today is the first time that we are having this conclave of Invest North for the northern region states. However, the states in the south and in the west have had a higher growth.
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Entrepreneurs can leverage skill sets and intangibles like knowledge and business capability, which do not require huge capital
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Strengthening its presence in the Singapore healthcare space, Fortis Healthcare today said it will shortly be opening a SHD 70 million (nearly Rs 308 crore) super speciality cancer hospital in that country.
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Fortis Healthcare International, the Singapore-based holding company of India's billionaire Singh brothers, said on Wednesday it will buy a 65% stake in Vietnam's Hoan My Medical Corp for USD 64 million.
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Led by stupendous performance of services sector, Haryana has been able to post higher growth over the country's GDP growth during 2004-05 till 2009-10, a CII report said.
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Malvinder Mohan Singh sold off his family-run pharma business Ranbaxy for a whooping USD 4.8 billion. Today, he is heading Religare Financial Services and Fortis Healthcare Services.Young Turks finds out Malvinder Singh’s strategy for success and what he has planned for the future.
