Singh brothers defrauded Fortis, must pay back â¹403 cr: SEBI
Markets regulator SEBI has determined that former Fortis Healthcare promoters Malvinder Singh and Shivinder Singh defrauded the company of â¹403 crore and ordered that they return it. SEBI gave the founder brothers and their related corporate entities three months to repay the money they diverted from Fortis, along with interest. The regulator also barred the entities from selling any assets.