Exploring legal means on SC’s notice in Ranbaxy case: Fortis

Fortis said in a BSE filing, the company is currently evaluating the judgement and exploring legal means to address it in an expeditious manner keeping in mind the best interest of all its stakeholder
Shivinder Singh (left) with his brother Malvinder Singh (File Photo | REUTERS)
Shivinder Singh (left) with his brother Malvinder Singh (File Photo | REUTERS)

NEW DELHI:  After the Supreme Court (SC) held former Ranbaxy promoters guilty of contempt of court for violating its order of not divesting their shares in Fortis Healthcare, Fortis said on Monday that it is exploring legal means to address it. 

Fortis said in a BSE filing, the company is currently evaluating the judgement and exploring legal means to address it in an expeditious manner keeping in mind the best interest of all its stakeholders.

“The Hon’ble Court has issued a suo moto notice of contempt to Fortis for violating the court order dated December 14, 2018,” it said.

The SC on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its earlier order, asking them not to divest their shares in Fortis Healthcare.

It has sought an enquiry into whether the subscription by IHH to the shares of the firm was undertaken after the status quo order.

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