Malvinder and Shivinder Singh receive a 6-month sentence from the SC for contempt

Malvinder Singh and Shivinder Singh sentenced to six months in prison . The lawsuit involves the buy-out of Fortis shares to Malaysia-based IHH Healthcare .

Malvinder Singh and Shivinder Singh, two former Fortis Healthcare promoters, were sentenced to six months in prison on Thursday.The lawsuit involves the buy-out of Fortis shares to Malaysia-based IHH Healthcare.Chief Justice Uday Umesh Lalit ordered the former promoters, who had previously been found guilty of corruption, to six months in prison.The top court also ordered a forensic examination of Fortis Healthcare's share sale.

Fortis Healthcare's former promoters are facing a court fight after a Japanese company, Daiichi Sankyo, challenged the Fortis-IHH share agreement to recover the Rs 3,600-crore arbitration award won by the Singh brothers in Singapore.Due to the legal fight between Daiichi and the former Fortis Healthcare promoters, the IHH-Fortis agreement has stalled.When Daichi filed a lawsuit in 2018 against some Indian lenders who sold pledged shares of Fortis Healthcare to a Malaysia-based company, Daichi alleged that Fortis' former promoters promised them that their shares in the Indian hospital chain would pay the arbitral award amount.In a statement, Fortis Healthcare said, We understand that the trials before the Supreme Court have concluded with certain directions and that the suo motu contempt has been overthrown.

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