The regulator also ordered Singh brothers or their companies not dispose of or alienate any of their assets or divert any funds pending completion of the investigation and till further orders.
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The order came after Daiichi Sankyo filed a contempt plea against Fortis' former promoters Malvinder Singh and Shivinder Singh (Singh brothers)
Shivinder said the gulf between our value systems is clearly too wide and the latest incident closes all options for any possible solution to work together.
Daiichi filed three fresh applications in the high court saying that the brothers did not declare the money in their affidavits and it is parked in 25 different companies
"The board of the company had approved the enabling fund raising options up to Rs 5,000 crore including but not limited to qualified institutional placement, foreign currency convertible bonds or any other method and recommended the same to shareholders for their approval," Fortis Healthcare said in a BSE filing.
In a separate filing, RHC Holding Pvt Ltd, another investment firm controlled by the Singh brothers said its board would consider buy back 800 secured redeemable non- convertible debentures of the company of Rs 10,00,000 each aggregating to Rs 80 crore allotted on March 28, 2014 on private placement basis.
Fortis Healthcare India today announced an all-cash deal to acquire Fortis Healthcare International as part of its plan to merge India and international operations. CNBC-TV18 catches up with the Singh brothers, Malvinder and Shivinder Singh, to understand the rationale behind the deal and the way forward for the merged entity.