The fresh order comes after Fortis Healthcare and Fortis Hospitals made representation to Sebi. The Sebi, through an order passed in October this year, had asked Fortis Healthcare to recover the amount. Since the loan of outstanding amount had been made solely by Fortis Hospitals, on its own account, upon recovery of the outstanding amount by Fortis Hospitals, there would not be any consequent requirement upon Fortis Hospitals to pay the same to Fortis Healthcare. Fortis Hospitals is a 100% wholly owned subsidiary of Fortis Healthcare. The regulator has barred Singh brothers from associating themselves with the affairs of Fortis Healthcare and Fortis Hospitals in any manner whatsoever, till further directions.

Source: Mint December 21, 2018 17:00 UTC