From The Economic Times · Teena Thacker · · 1m 10s
Supreme Court backs Delhi HC orders in Daiichi-Fortis dispute
Supreme Court clears path for forensic audit in Daiichi-Fortis asset tracing.
In brief
Supreme Court clears path for forensic audit in Daiichi-Fortis asset tracing. Supreme Court upholds Delhi High Court's orders allowing Daiichi Sankyo to trace assets linked to its 2016 arbitral award against former Fortis promoters. Originally reported by The Economic Times.
Supreme Court upholds Delhi HC orders
The Supreme Court has declined to interfere with Delhi High Court’s directions for a forensic audit in the Daiichi Sankyo-Fortis dispute.
Forensic audit aims to trace assets
The audit focuses on transactions linked to Daiichi Sankyo’s 2016 arbitral award against former Fortis promoters.
Key legal challenge
Fortis Healthcare challenged Delhi High Court’s orders through a Special Leave Petition before a bench led by Chief Justice Surya Kant.
Justice Bagchi’s warning
Justice Bagchi stated public shareholders do not defend against forensic audits and warned: 'You may not be a judgment debtor, but you are an enabler of the judgment debtors.'
“You may not be a judgment debtor, but you are an enabler of the judgment debtors.”
Arbitral award background
Daiichi Sankyo’s 2016 award against Singh brothers over Ranbaxy Laboratories stake remains unexecuted in India.
Next steps for enforcement
The Supreme Court’s decision allows Daiichi Sankyo to proceed with asset tracing while addressing Fortis’ links to IHH Healthcare.
The headline
Supreme Court upholds Delhi High Court's orders allowing Daiichi Sankyo to trace assets linked to its 2016 arbitral award against former Fortis promoters.
