Supreme Court dismisses appeals by DCB Bank and UBS against Fortis audit

New Delhi: The Supreme Court on Friday dismissed appeals by DCB Bank and UBS Management Services India challenging a Delhi High Court order directing forensic audit of transactions linked to hospital chain Fortis Healthcare (FHL), in connection with Daiichi Sankyo's arbitration case.

A bench led by Chief Justice Surya Kant reiterated that the audit ordered by the High Court on August 31 was confined to the transactions among FHL, its holding company Fortis Healthcare Holding Pvt Ltd and former promoters Malvinder Singh and Shivinder Singh. It clarified that it does not mean a "fishing and roving enquiry" into the affairs of the banks.