Shivinder-Malvinder spat: NCLT orders status quo on RHC Holdings management Noor Arora
Shivinder Singh, former Co-promoter of Fortis Healthcare, has moved the National Company Law Tribunal against his brother Malvinder. The Tribunal has asked status quo to be maintained on management of RHC Holdings. In court today, Shivinder's counsel asked the court to disallow any sale of shares in RHC Holdings by his brother Malvinder. Shivinder's counsel has petitioned that there the debt-equity ratio has not been maintained in the company because of which Fortis has been sold out. A source close to the development said that in the petition, Shivinder Singh has questioned taking loans more than what the companies could pay up. The court has let both parties inspect the books of RHC holidings by their respective chartered accountants and company secretaries. The next hearing will be in October 9.
ARTICLE SOURCE: BS