A fortress around Fortis Healthcare shares: Lessons for the lending community

Since August 31, 2017, alarm bells have been ringing in banks and non-banking financial companies that provide margin financing and share-backed financing to various promoter groups. The interim order of the Supreme Court restricting the holding companies of Malvinder and Shivinder Singh from selling the shares of Fortis Healthcare and preventing certain banks from enforcing their pledge on these shares has left the lending community dumbfounded.

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