The Delhi High Court's order, issued in the wake of a 2016 arbitration award, called for a forensic audit of Fortis's transactions with IHH Healthcare and RHT Health Trust.
The award, worth ₹2,562 crore, was granted to Japan’s Daiichi Sankyo for alleged fraudulent misrepresentations by the Singh brothers in the sale of Ranbaxy Labs, a claim that the amount has now risen to ₹5,300 crore.
Fortis, a publicly listed company, insists it was never a party to the arbitration and that the audit order unfairly targets its 250,000 shareholders, the firm warned in a statement.
In its petition, Fortis argues that a listed firm cannot be held liable for the personal debts of its former directors under company law, a principle that could protect other companies from similar orders.
The Supreme Court will consider the petition in November, a decision that could reshape how corporate entities are treated in enforcement of foreign arbitral awards and safeguard shareholder interests.