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​Japanese drugmaker Daiichi alerts India’s regulators vs potential Fortis stake sale

( December 28, 2017, 09:01 GMT | Insight) -- Japanese drugmaker Daiichi Sankyo has notified India’s regulators and bourses that any potential stake sale in Fortis Healthcare by its promoters, Malvinder and Shivinder Singh, would violate a Supreme Court order requiring the Singh brothers to maintain the status of their shareholding in the hospital chain, The Economic Times reports.Japanese drugmaker Daiichi Sankyo has notified India’s regulators and bourses that any potential stake sale in Fortis Healthcare by its promoters, Malvinder and Shivinder Singh, would violate a Supreme Court order requiring the Singh brothers to maintain the status of their shareholding in the hospital chain, The Economic Times reports. Daiichi's counsel said the move was prompted by reports of alleged discussions between the Singh brothers and potential buyer Abu Dhabi-based VPS Healthcare. The drugmaker has been locked in litigation against the Singhs over the enforcement of a Singapore court order that awarded Daiichi 3,500 crore ($526 million) in damages relating to its purchase of Ranbaxy Laboratories from the Singhs in 2008....

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