Who Is The Ex Owner Of Fortis? Uncovering The Past Of The Healthcare Giant

The Supreme Court granted Malvinder Mohan Singh, the former promoter of Fortis, access to his bank account. This account holds pension funds he received from Daiichi Sankyo, a Japanese pharmaceutical giant.

This decision comes as a positive development for Malvinder Mohan Singh. It allows him to access funds crucial to his well-being.

Malvinder Mohan Singh was a prominent figure in the Indian healthcare industry. He and his brother, Shivinder Mohan Singh, were the driving force behind Fortis Healthcare, a leading healthcare provider in India. However, their journey took a drastic turn when they found themselves embroiled in a legal battle with Daiichi Sankyo, a Japanese pharmaceutical company.

The dispute stemmed from a 2008 deal where the Singh brothers’ company, Ranbaxy Laboratories, acquired Daiichi Sankyo’s majority stake. However, this acquisition was marred by allegations of fraud and misrepresentation, leading to a lengthy legal battle.

Daiichi Sankyo eventually won the case and was awarded a hefty compensation amount. This legal victory further complicated the Singh brothers’ situation, ultimately leading to the sale of Fortis Healthcare in 2018. The Singh brothers’ influence over Fortis Healthcare was significantly diminished. This marked a turning point in the company’s history, as new management took the reins.

While the Singh brothers’ journey with Fortis Healthcare ended, their story is a reminder of the complexities and uncertainties in the world of business. This case also highlighted the importance of transparency and ethical conduct within corporate dealings.