India: Supreme Court refuses permission to Singh brothers to sell Fortis shares

India: Supreme Court refuses permission to Singh brothers to sell Fortis shares

Malvinder Singh (left) and Shivinder Mohan Singh. Photo: HT

The Supreme Court on Thursday refused to give the Singh brothers (Malvinder and Shivinder, the original promoters of Ranbaxy and Fortis) permission to sell Fortis shares. It also refused permission to banks with whom the Singhs have pledged Fortis shares to do the same.

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