Justice UU Lalit bench to pronounce on Wednesday an order on what details banks will have to furnish vis-a-vis their role in transfer of Fortis Healthcare shares to IHH Healthcare Berhad.
#SupremeCourt
#Daiichi
Former @fortis_hospital Healthcare promoters, Malvinder Singh and Shivinder Singh blamed banks for bringing down their shareholding in Fortis Healthcare from above 70% to less than 1%
Hearing commences.

Senior Counsel Rakesh Dwivedi making submissions.

An undertaking said FHH PL will continue to be single largest shareholder

They said they're selling it to minority shareholders. The idea was not to sell shares at all, says Dwivedi.
Between Jan and March unencumbered shares were down by 3.5 Cr. 3.5 Cr unencumbered shares were sold and 2 cr encumbered shares were sold.

Banks should answer that this isn't a case where banks were not trying to secure their loan on account of fall in share value: Dwivedi.
There is material on record to show that either banks have sold shares or permitted Malvinder Singh to sell shares in the market

Purpose of selling is to scuttle or decouple FHHPL from FHL: Dwivedi

#Daiichi #Fortis #MalvinderSingh
None of the banks told this court that control of FHHPL will be completely knocked out

The banks were aware about assurances and court proceedings: Dwivedi submits.

#fortis #daiichi #malvindersingh
Despite assurances, Singh brothers told banks you can do whatever you want, you can sell and do whatever you feel like: Dwivedi
Malvinder say he has nothing to do with Shivinder; Shivinder says he has nothing to do with Malvinder ;They both say we have nothing to with banks

Banks say they have nothing to do with Singh Brothers: Dwivedi.

#MalvinderSingh #SupremeCourt #Daiichi
Bench asks Dwivedi if he has moved Delhi High Court seeking contempt action for violation of orders passed by Delhi High Court.

Dwivedi replies in the negative.
We want details on the money that went out, the manner in which it went out, the details of bank accounts: SC
What we propose to do is we would like to have details of all encumbrances but that will be from the perspective of orders passed by Supreme Court: Bench.
We also want information on Rs. 4,600 cr which went out of FHL: Supreme Court.
Senior Counsel Shyam Divan for Axis Bank says there should be some clarity on what exactly is the case against and why all this is being reopened again.

#Fortis #malvinder
Sr Adv. Arvind Datar says all these banks are not innocent. How do they give loans to sister concern? A loan given to a company will not go to sister concern and then vanish.

The prestige of the country is at stake as regards enforcement of arbitral award by foreign tribunal.
Supreme Court reserves order. Will be pronounced tomorrow.

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More from @barandbench

17 Feb
A Delhi Court will today give its verdict in the defamation case filed by MJ Akbar against #Metoo whistleblower, Priya Ramani.

Order will be pronounced by Judge Ravindra Kumar Pandey in the physical presence of parties at 2pm.

@mjakbar

#MJAkbar #PriyaRamani Image
Priya Ramani alleged that in December 1993, #MJAkbar sexually harassed her when she was called to The Oberoi, Mumbai for a job interview.

#PriyaRamani @mjakbar
During the two years of this trial, #PriyaRamani pleaded:

Truth,
Good Faith,
Public Interest,
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as her defense

#MeToo @IndiaMeToo #MJAkbar @mjakbar
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17 Feb
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#SupremeCourt
Senior Advocate Srivastava: If there is a division problem it does not justify the restriction on redemption. Shares the below note with the bench. Image
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17 Feb
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#FarmersProtest
#NikitaJacob
#ToolkitCase Image
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#FarmerProtests
#NikitaJacob

barandbench.com/news/litigatio…
Bench has assembled. The matter will be taken up shortly.

#FarmersProtest
#NikitaJacob
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17 Feb
#SupremeCourt to shortly hear petitions challenging the Uttar Pradesh ordinance, Madhya Pradesh, Himachal Pradesh, and Uttarakhand laws prohibiting religious #conversion for marriage

@cjpindia #SupremeCourt @myogiadityanath @jairamthakurbjp @tsrawatbjp Image
Petitioners argue that the laws are being misused to harass individuals indulging in interfaith marriages.
#SupremeCourt
#ordinance
Senior Adv CU Singh: Respondents has circulated a letter for adjournment. We are seeking to amend the plea to include challenge to Himachal and Madhya Pradesh laws. They have brought in conversion prohibition laws
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17 Feb
Supreme Court to continue hearing petition filed by @Facebook India chief Ajit Mohan challenging the summons issued to him by Delhi Assembly's Committee in relation to #DelhiRiots2020. Arguments are likely to conclude today
#SupremeCourt @secondatticus Image
Solicitor-General Tushar Mehta: Adjudication here is of a constitutional question on whether Delhi Assembly will have legislative competence to summon someone for a probe in a subject which is under a different list.
SG Mehta: Essentially the question boils to whether the Delhi assembly examining the social media company can be done at all.

Justice Kaul:Salve argued he can choose to appear somewhere and he can choose not to appear somewhere. It was his business decision to appear before you
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16 Feb
[BREAKING] Supreme Court registers suo motu Criminal Contempt case against Rajdeep Sardesai for tweets criticising court, months after AG KK Venugopal denied consent

report by @DebayonRoy

#SupremeCourt #ContemptofCourt

@sardesairajdeep
barandbench.com/news/litigatio…
The case was registered by the Supreme Court despite the fact that Attorney General KK Venugopal had earlier refused to grant consent to the initiation of contempt proceedings against Rajdeep Sardesai

@sardesairajdeep #RajdeepSardesai
#SupremeCourt
Read 4 tweets

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