India's Supreme Court rejects DCB Bank and UBS appeals against Fortis audit

what happened

India's Supreme Court on Friday rejected appeals from DCB Bank and UBS Management Services India, which had challenged a Delhi High Court order. That order requires a forensic audit of dealings tied to hospital operator Fortis Healthcare (FHL), part of an arbitration dispute involving Daiichi Sankyo. The report was published by TradingView.

The bench, led by Chief Justice Surya Kant, said the August 31 audit covers only transactions between FHL, its parent Fortis Healthcare Holding Pvt Ltd and former promoters Malvinder and Shivinder Singh. The court added that this scope is not a "fishing and roving enquiry" into the banks' own affairs.

why it matters

For investors, the ruling mainly confirms the legal basis for reviewing Fortis group dealings and limits how far that review reaches, so the banks that filed appeals are not subject to a broad inquiry. The report gives no financial figures, so this is a legal development rather than an earnings event for the company.

market impact

Fortis Healthcare and counterparty banks: legal risk from the audit is narrowed, with no direct pressure on reported earnings

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