Fortis Healthcare director quits

Fortis Healthcare, which is under the scanner of the Serious Fraud Investigation Office, said one of its independent directors, Joji Gill, stepped down due to ‘personal reasons’.

“Ms Joji Sekhon Gill has tendered her resignation from the directorship of the company with effect from March 7 due to personal reasons, primarily attributed to her occupation in job-related responsibilities,” company secretary Rahul Ranjan said in a statement.

“Due to my job related responsibilities, I am unable to give suitable time to perform my duties as a board member and as committee member going forward,” Joji Gill wrote in her resignation email.

A month ago, two other members of the board — Malvinder and Shivinder Singh — stepped down “in the interest of propriety and good governance.”

The resignation led to a 24% jump in share price of the hospital operator.

There have been media reports alleging large-scale diversion of funds from the company. It is alleged that the company transferred funds from its own accounts to an entity controlled by the promoters without board approval.

Recently, the Delhi High Court also ordered the Singh brothers to pay Rs 3,500 crore to Japanese drug maker Daiichi Sankyo over disclosure-related concerns.