Management Committee to oversee ops of Fortis

According to a BSE filing, the company’s Board of Directors “accepted the resignations of Malvinder Mohan Singh, Executive Chairman and Dr Shivinder Mohan Singh Non-Executive Vice Chairman with effect from February 8, 2018.” 

The BSE filing said, “The board, as an interim measure, has constituted a management committee to oversee the functioning of the company from a strategic and operational guidance perspective and vested with the management committee all the responsibilities and authorities of executive chairman and non-executive vice chairman.”

On February 9, the promoters of Fortis Healthcare had resigned from the company’s board days after the Delhi High Court upheld an international arbitral award of Rs 3,500 crore to Daiichi Sankyo against the former promoters of Ranbaxy Laboratories.