Ex-Fortis Promoter Shivinder Mohan Singh Files for Personal Insolvency Before NCLT

Shivinder Mohan Singh, former promoter of Fortis Healthcare and Religare Enterprises, has filed for personal insolvency before NCLT Delhi, under Section 94 of the IBC, which permits individuals unable to repay debts to seek a structured resolution.

In his plea, Singh stated that his liabilities now far exceed his assets, many of which have been attached or devalued due to ongoing litigation, including the ₹3,500 crore arbitral award granted by a Singapore Tribunal in favor of Daiichi Sankyo, which found the SM Singh brothers liable for fraudulent misrepresentation in the 2008 Ranbaxy Deal.

The matter is scheduled for further hearing on May 20.