Supreme Court allows Fortis forensic audit to proceed
In short
The Supreme Court allowed a forensic audit of Fortis Healthcare to go ahead, the summaries say. It also said the Delhi High Court’s remarks were only for deciding the audit issue.
Fortis says no liability, penalty or fine has been imposed, and it says it had no role in the share transfer by its former promoters. The final outcome is still not known.
What the reporting says
The Supreme Court allowed a forensic audit of Fortis Healthcare to proceed and said the Delhi High Court’s observations were only for deciding the audit issue, according to the syndicated summaries. Fortis said no liability, penalty or fine has been imposed and reiterated it had no role in the transfer of shares by its erstwhile promoters. The immediate market focus is on the audit, while the final legal outcome remains unknown.
Why it matters
The Supreme Court’s decision lets the forensic audit of Fortis Healthcare continue, while limiting the Delhi High Court’s observations to the audit question. Fortis has said no liability, penalty or fine has been imposed and denied involvement in the share transfer by its erstwhile promoters. The reporting does not say when the audit will finish or whether any enforcement action will follow.