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Fortis to face a MCA Probe over its Alleged Mismanagement
May 28, 2018
As the ministry has received complaints regarding mismanagement of Fortis, it has to face a MCA probe amidst its already prevalent takeover battle for the company. Three of the total four promoter-nominated directors Sabina Vaisoha, Tejinder Singh Shergill and Harpal Singh have quit Fortis a day before the Extraordinary General Meeting or the EGM meeting was scheduled to be held. One of the top executives of the firm was quoted as saying that this stepping down of three directors mean that they didn’t have the confidence to face the shareholder’s vote. The EGM was called to overhaul the board.
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