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The National Company Law Tribunal's Principal Bench in Delhi has allowed dismissal of the case filed by former co-promoter of Fortis Healthcare, Shivinder Singh against his brother Malvinder Singh and Sunil Godhwani who headed RHC Holding.

However, this is just a withdrawal of the application and not the allegations. Lawyers explained that the Shivinder can move the same tribunal once again on the same issue. The lawyer for Religare argued that their interest should be protected and there should be a provision for filing a case on the same allegations in the tribunal. Religare’s counsel argued in court that this right should remain with them as they are an aggrieved party.

 

In a statement on why he withdrew his application, Shivinder said, “I did so because my primary goal remains to address and resolve the group’s issues through constructive and transparent engagement with Daiichi Sankyo and our other creditors.” The statement adds that even though the application has between withdrawn Shivinder’s decision to disassociate from his brother for business purposes stands.

Fortis Healthcare co-founder Shivinder Singh on Thursday had decided to withdraw the case he had filed against his brother Malvinder Singh at the National Company Law Tribunal (NCLT) and agreed to try to solve the dispute with mediation from family elders.

Their mother, Nimmi Singh, bedridden since suffering a stroke last year, played peacemaker between the brothers. Sources said she had stopped eating for the past few days and had constantly been making calls and sending emails to the two brothers.

She may have avoided a legal tangle for her family at least for now, but sources close to Shivinder claimed he was not very hopeful of the negotiations yielding results. If talks failed, another court case might be in the offing.

This time, apart from the two brothers, their uncles (at least a couple of them) are supposed to get involved in the talks. Shivinder has communicated a deadline that he has in mind for the process. If things do not move towards a mutually agreed-to resolution, the younger brother is likely to take legal action again.

Nimmi Singh is at the Radha Soami Satsang Beas ashram in Amritsar; the brothers are in Delhi. Her cousin, Gurinder Dhillon, is the current guru of the ashram. The family would decide when and where to meet and discuss.

Last modified on Friday, 14 September 2018

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