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Singh brothers, Mr. Malvinder Mohan Singh, Executive Chairman and Dr. Shivinder Mohan Singh, Non-Executive Vice Chairman have resigned from their directorships of the Fortis Healthcare.
The board, in its meeting to be held on February 13,2018, will discuss in detail the matter of resignation. Singh brothers in a letter to board of directors stated, “In light of the recent High Court judgement, upholding the plea of Daiichi Sankyo to enforce the arbitration award, we believe this (resignation) is in the interest of propriety and good governance. It is intended to free the organisation from any encumbrances whatsoever that may be linked to the promoters.”
Furthermore, they also said that, the board members were requested to have a look into all inter-group transactions and distance the promoter group from Fortis in a manner, that helps in achieving the continuity of operations of organisation and deliver its mission of saving lives.
