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Ahead of EGM, Fortis faces ministry probe
The Ministry of Corporate Affairs (MCA) will start investigation into alleged mismanagement at Fortis Healthcare in the midst of the takeover battle for the company, but it is not considering packing off the board and filling it with its nominees.
Meanwhile, three promoter-nominated directors — Harpal Singh, Tejinder Singh Shergill and Sabina Vaisoha — quit the company’s board a day ahead of the extraordinary general meeting (EGM) on May 22. Only Brian Tempest, also promoter-nominated, remains on the board. Read more
T Rowe Price seeks govt role in UTI MF board issues
The tussle between principal
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