IHH Healthcare Berhad said the Delhi High Court has ordered the appointment of a forensic auditor to examine the dissipation of the shareholding previously held by Fortis Healthcare Ltd’s former promoters, the subsequent change in control of Fortis and the roles played by relevant stakeholders.
The Malaysian healthcare group stressed that the court’s order, dated Aug 31, 2026, did not impose any liability, penalty or fine on either IHH or Fortis.
In a Bursa Malaysia filing on Tuesday, IHH said the order arose from execution proceedings initiated by Daiichi Sankyo against former Fortis promoters Malvinder Mohan Singh and Shivinder Mohan Singh, collectively known as the Singh Brothers, and persons and entities related to them.
The proceedings have been the subject of a long-running legal process in India, including a Supreme Court of India judgment in September 2022.
According to IHH, the Delhi High Court has now directed the appointment of a forensic auditor whose mandate will primarily involve a factual enquiry into the dissipation of the Singh Brothers’ shareholding in Fortis, the subsequent change in control of the Indian healthcare company and the role of relevant stakeholders in those developments.
The court order also contains directions to examine the transaction involving IHH’s acquisition of a controlling stake in Fortis through Northern TK Venture Pte Ltd (NTK).
IHH highlighted that neither the company, NTK nor PPL are parties to the execution proceedings.
“The Hon’ble Court has not imposed any liability, penalty or fine on IHH or Fortis,” the company said.
IHH added that it is reviewing the Delhi High Court order in detail in consultation with its legal counsel and will evaluate the appropriate course of action in accordance with applicable law.
The group said it will make further announcements should there be any material developments.
IHH’s involvement with Fortis dates back to 2018, when it emerged as the successful bidder for a controlling interest in the Indian healthcare group. The transaction subsequently became entangled in legal proceedings connected to the Singh Brothers and Daiichi Sankyo.
The latest court order marks another development in the protracted proceedings surrounding Fortis’ former promoters and the eventual change in control of the company, although IHH emphasised that the Aug 31 order itself does not impose any financial or legal liability on the Malaysian healthcare group or Fortis.
