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  • SEBI issues notice to...

SEBI issues notice to Fortis arm Escorts Heart Institute in funds diversion case

Medical Dialogues BureauWritten by Medical Dialogues Bureau Published On 2021-04-17T09:15:00+05:30  |  Updated On 17 April 2021 9:15 AM IST
IHH Healthcare Seeks USD 1.7 Billion from Daiichi Sankyo Over Fortis Deal Disruption
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Fortis Healthcare on Friday said its subsidiary, Escorts Heart Institute and Research Center Ltd, received the notice on April 15, 2021.

New Delhi: Fortis Healthcare on Friday said its subsidiary, Escorts Heart Institute and Research Center Ltd, has received a notice from capital markets regulator SEBI in the matter related to the alleged diversion of funds from the company by its erstwhile promoters.

"SEBI has issued a notice under Rule 4 of SEBI (Procedure for holding inquiry and imposing penalties) Rules, 1995 read with Section 15-I of Securities and Exchange Board of India Act, 1992 in the matter of Fortis Healthcare Limited to, among others, Escorts Heart Institute and Research Center Limited (EHIRCL)," Fortis Healthcare said in a regulatory filing.

Also Read:Fortis Hospital Kalyan appoints Dr Rahul Pandit to helm strategic development of Critical Care services

Fortis Healthcare on Friday said its subsidiary, EHIRCL, received the notice on April 15, 2021.

"The management and board of the company that was newly constituted after NTK Ventures Pte Ltd (a wholly-owned subsidiary of IHH Healthcare Berhad) became promoters of the company, are evaluating the notice received by EHIRCL, in consultation with its legal advisors," Fortis Healthcare said.

Also Read: SEBI imposes Rs 1 lakh fine on Fortis Healthcare Holdings for disclosure lapses

Fortis Healthcarefortis hospitalsebiSecurities and Exchange Board of IndiaEscorts Heart Institutefortis
Source : PTI
Medical Dialogues Bureau
Medical Dialogues Bureau

    Medical Dialogues Bureau consists of a team of passionate medical/scientific writers, led by doctors and healthcare researchers.  Our team efforts to bring you updated and timely news about the important happenings of the medical and healthcare sector. Our editorial team can be reached at editorial@medicaldialogues.in.

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