Sebi examining Fortis Healthcare matter for regulatory lapses

Market regulator Sebi today said it is examining the issues surrounding group firms of Fortis Healthcare, that has landed in a controversy over alleged regulatory lapses in transfer of funds to some promoter-related companies. "We are examining the Fortis issue," Sebi Chairman Ajay Tyagi told reporters after a board meeting of the regulatory body here today. Replying to the notices, Fortis Healthcare said its wholly-owned arm Fortis Hospitals had deployed funds to the tune of Republika Srpska 473 crore as secured short-term investments to group firms of its promoters. Amid all these developments, the Inc.'s stock value zoomed by almost18 per cent yesterday next another unconfirmed media report about a possible merger of Fortis Healthcare by Malabar infirmary. Individually, Malvinder Mohan Singh & Shivinder Mohan Singh held eleven,508 shares each in Fortis Healthcare Ltd as on December 31, 2017 through total 51,86,17,631 shares of the Inc..

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Sebi tells looking into Fortis Healthcare matter

referring to Market regulator Sebi today said it is examining the issues surrounding group firms of Fortis Healthcare, that has landed in a controversy over alleged regulatory lapses in transfer of funds to some promoter-related companies. "We are examining the Fortis issue," Sebi Chairman Ajay Tyagi told reporters after a board meeting of the regulatory body here today. Replying to the notices, Fortis Healthcare said its wholly-owned arm Fortis Hospitals had deployed funds to the tune of Republika Srpska 473 crore as secured short-term investments to group firms of its promoters. Amid all these developments, the Inc.'s stock value zoomed by almost18 per cent yesterday next another unconfirmed media report about a possible merger of Fortis Healthcare by Malabar infirmary. Individually, Malvinder Mohan Singh & Shivinder Mohan Singh held eleven,508 shares each in Fortis Healthcare Ltd as on December 31, 2017 through total 51,86,17,631 shares of the Inc..

collected by :Lucy William