NEW DELHI: After accusing elder brother Malvinder on multiple grounds and dragging him and ex-Religare chief Sunil Godhwani to the National Company Law Tribunal (NCLT), Shivinder on Thursday filed an appeal to withdraw his case.
Shivinder, in the application, informed that their mother has requested that her sons engage in mediation led by family elders and settle the issues inter se.
“That out of respect for their mother, the parties have already started mediation and as per the request of the mediators to constructively progress the mediation, the petitioners wish to withdraw the captioned petition, without prejudice to their rights and contentions,” the withdrawal application said.
Shivinder had earlier this month filed a complaint before NCLT’s Delhi bench, alleging “oppression and mismanagement” of RHC Holding, Religare Enterprises and Fortis Healthcare. Shivinder alleged that collective and ongoing actions of Malvinder and Godhwani led to a systemic undermining of interests of the companies and their shareholders. He also accused Malvinder of forging his wife Aditi Singh’s signature and conducting illegal financial transactions.
Shivinder’s counsel Ranjana R Gawai said the petition is not withdrawn yet, but is in the process. Passing an interim order over Shivinder’s earlier plea, the NCLT principal bench, on September 6, had directed to maintain a status quo over the shareholdings and composition of RHC Holding Board. The NCLT has posted the matter on October 9 for next hearing.
Fingers pointed
The Fortis brothers have lost management control over Fortis and Religare. They are also accused of siphoning money from Fortis Healthcare without consent of the Board and are facing heat from Japanese drug maker Daichii Sankyo, which is trying to enforce a C3,500 crore arbitration award it got from a tribunal in Singapore.