Fortis Healthcare has filed a Special Leave Petition (SLP) before the Supreme Court challenging a Delhi High Court order directing a forensic audit into a series of transactions involving Fortis Healthcare, Malaysia-based IHH Healthcare Berhad, and RHT Health Trust.
The Delhi High Court's August 31, 2026 order arose from long-running enforcement proceedings initiated by Japanese pharmaceutical company Daiichi Sankyo against former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh. The proceedings relate to a 2016 Singapore arbitral award that directed the judgment debtors to pay approximately ₹2,562 crore, a figure that Daiichi claims has since increased to around ₹5,300 crore with interest.
The High Court appointed S Ramanand Aiyar & Co. as forensic auditors to examine the evolution of the Singh brothers' shareholding in Fortis, the creation and invocation of pledges, the sale of shares, transactions involving lenders, and the acquisition of control by IHH Healthcare. The audit is also expected to review transactions involving RHT Health Trust and the movement of funds connected to those transactions.
Fortis has argued before the Supreme Court that it was neither a party to the original arbitration proceedings nor a judgment debtor. The company contends that the forensic audit order effectively treats the listed company as an extension of its former promoters without first establishing any legal basis for lifting the corporate veil.
The company has further highlighted that a substantial portion of its shareholding is held by public investors and that any adverse findings based solely on the conduct of former promoters could have broader implications for corporate governance and shareholder rights.
The Supreme Court's consideration of the appeal is expected to determine the scope of judicial scrutiny over historical corporate transactions and the extent to which a listed company can be subjected to investigative proceedings arising from disputes involving former promoters.