Health Business

Fortis promoters to reply to Daiichi Sankyo’s contempt application

Daiichi Sankyo Co. Ltd on Tuesday moved a contempt application against Fortis Healthcare Holdings Pvt. Ltd (FHH), in the Delhi high court.

The court directed FHH to file its response on the matter by 10 August.

FHH has been selling its unencumbered assets without applying to the court as directed in previous court orders, Daiichi said.

Fortis promoters

The Japanese drug maker had moved the court earlier in June with a contempt plea against former Ranbaxy Laboratories Ltd promoters Malvinder and Shivinder Singh, alleging that the proposed stake sale by them in Fortis Healthcare Ltd was in contravention of earlier orders.

According to Mukul Rohatgi,counsel for Daiichi,  an order previously passed in the matter by Delhi high court required that before unencumbered assets of RHC Holdings Pvt. Ltd (RHC) and Oscar Investments Ltd (Oscar), which are wholly owned by FHH, were disposed of, an application should have been filed in court by FHH but no such application was filed.

The case will be heard next on 11 July.

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