The Delhi High Court has also asked the former promoters of Fortis Healthcare Limited, popularly known as the Singh brothers, to disclose all their transactions, including gifts, since 2016.

The Delhi High Court yesterday directed the erstwhile promoters of Fortis Healthcare (FHL), the Singh brothers, to appear in person for the next hearing of case filed by Daiichi Sankyo.

Ever since Bhavdeep Singh was roped in as CEO by the country's second-largest hospital chain, its losses rose from Rs 73.6 crore in 2015-16 to Rs 74.7 crore in 2016-17.

Malvinder and his brother Shivinder Singh had resigned as directors from FHL's board in February this year, following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo.

The development has cast a shadow over the ongoing attempt to sell Fortis as these four directors were among the five who had voted in favour of Munjals-Burmans' Rs 1,800 crore bid for the healthcare firm.

Fortis Healthcare today said its shareholders have voted in favour of removal of Brian Tempest from the Board of Directors in the company's extraordinary general meeting (EGM) held on May 22.

Fortis' largest shareholder, Yes Bank, has asked the board to consider all the bids (binding as well as non-binding) despite the board recommending the Munjal-Burman offer.

After Munjal-Burman bid was announced as the preferred bid by the Fortis Healthcare board, Sunil Kant Munjal and Anand Burman spoke to BusinessToday.In Editor Rajeev Dubey and Business Today, Senior Editor Joe C Mathew about being minority shareholders, investing in Fortis and whether it is an equal investment.

The bidding war has raised the value of each Fortis share nearly 50% from the lowest offer of Rs 126 per share to Rs 185 per share. So what makes Fortis so valuable?

Within hours of the Fortis Healthcare board announcing the Munjal-Burman bid as the preferred bid to take over India's second largest hospital chain, Sunil Kant Munjal and Anand Burman sat down with BusinessToday.In Editor Rajeev Dubey and Business Today, Senior Editor Joe C Mathew to explain what convinced them to bid for the company mired in allegations of poor corporate governance, their apprehensions and how they plan to turn around the struggling healthcare chain.

The much-wooed Fortis Healthcare (FHL) may have selected a suitor at last, but the happily-ever-after bit is still a long way off.

Right after having their bid selected for the Fortis Healthcare, Sunil Kant Munjal and Anand Burman talked to Business Today about why they chose to bid for the company and how they plan to turn it around.

The hospital business of Fortis along with a 20 per cent stake in diagnostics chain SRL will be acquired by Manipal Hospitals and private equity investment firm TPG Capital.

While the issues between the Daiichi Sankyo and the Singh brothers of the then Ranbaxy are still to be resolved, leaders from corporate India are beginning to pick up some lessons from them.

Fortis, in its second and third quarter earnings statement, said its audit and risk management committee has decided to carry out an independent investigation through an external legal firm.