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2021 Supreme(SC) 93

UDAY UMESH LALIT, INDIRA BANERJEE, K.M.JOSEPH
Daiichi Sankyo Company Limited – Appellant
Versus
Oscar Investments Limited – Respondent


Advocates appeared:
For the Parties: Mr. Mukul Rohatgi, Sr. Adv. Mr. Rakesh Dwivedi, Sr. Adv. Mr. Jaideep Gupta, Sr. Adv. Mr. Krishnan Venugopal, Sr. Adv. Mr. Amit Kumar Mishra, Adv. Mr. Eklavya Dwivedi, Adv. Mr. Mohit Singh, Adv. Ms. Samridhi Hota, Adv. Ms. Kanika Singhal, Adv. Mr. Shivam Pandey, Adv. Mr. Turab Ali Kazmi, Adv. Ms. Saloni Agarwal, Adv. Mr. Rohan Jaitley, Adv. Mr. Aditya Shankar, Adv. Mr. Jaiveer Shergil, Adv. Mr. Kunal Chatterji, AOR Mr. Keshav Dhingra Sehgal, Adv. Mr. Shivendra Singh, Adv. Ms. Maitrayee Banerjee, Adv. Mr. Pravar Veer Misra, Adv. Mr. Arvind P. Datar, Sr. Adv. Mr. Amit Kumar Mishra, Adv. Mr. Eklavya Dwivedi, Adv. Mr. Mohit Singh, Adv. Ms. Samridhi Hota, Adv. Ms. Kanika Singhal, Adv. Mr. Shivam Pandey, Adv. Mr. Turab Ali Kazmi, Adv. Ms. Saloni Agarwal, Adv. Mr. Rahul Unnikrishnan, Adv. Mr. Jaiveer Shergill, Adv. Mr. Kunal Chatterji, AOR Mr. Kailash Vasdev, Sr. Adv. Mr. Anuradha Dutt, Adv. Ms. Suman Yadav, Adv. Mr. Tushar Jarwal, Adv. Mr. Aditya Sarin, Adv. Mr. Shobhit Ahuja, Adv. Ms. B. Vijayalakshimi Menon, AOR Mr. Harish N. Salve, Sr. Adv. Mr. Rajiv Nayar, Sr. Adv. Mr. H.S. Chandhoke, Adv. Mr. Sanjeev Kumar, Adv. Mr. Saleem Ansari, Adv. Mr. Vaibhav Kakkar, Adv. Mr. Abhishek Kisku, Adv. Mr. Anshul Sehgal, Adv. Mr. Sahil Arora, Adv. Mr. Rohit Dahiya, Adv. Mr. Faisal Sherwani , AOR Mr. Harish N. Salve, Sr. Adv. Mr. Gaurav Pachnanda, Sr. Adv. Ms. Ruby Singh Ahuja, Adv. Mr. Vishal Gehrana, Adv. Ms. Kritika Sachdeva, Adv. Mr. Anmol Jassal, Adv. Ms. Namrata Sinha, Adv. Ms. Avni Sharma, Adv. M/s. Karanjawala & Co., AOR Ms. Meenakshi Arora, Sr. Adv. Mr. Vivek Jain, AOR Mr. Zulfiquar Menon, Adv. Mr. Nirvikar Singh, Adv. Mr. Abhishek Singh, Adv. Mr. Manish Shekhari, Adv. Mr. Nitin Sharma, Adv. Mr. Ganesh Khemka, Adv. Mr. Shyam Divan, Sr. Adv. Mr. Anuj Berry, Adv. Mr. Abhik Chakraborty, Adv. Mr. Vinayak Chawla, Adv. Mr. Shradul S. Shroff, AOR Mr. Shyam Divan, Sr. Adv. Mr. Mahesh Agarwal, Adv. Mr. Ankur Saigal, Adv. Mr. Himanshu Satija, Adv. Mr. E. C. Agrawala, AOR Mr. C.U. Singh, Sr. Adv. Mr. Sandeep Devashish Das, AOR Ms. Aishwarya Singh, Adv. Mr. Pratap Venugopal, Adv. Ms. Surekha Raman, Adv. Ms. Viddusshi Shandilya, Adv. Mr. Akhil Abraham Roy, Adv. Mr. Vijay Valsan, Adv. M/s. K J John & Co, AOR Mr. Jayant Mehta, Adv. Ms. Roopali Singh, Adv. Ms. Sayobani Basu, Adv. Ms. Durga Manda, Adv. Mr. Anant Misra, Adv. Mr. Pranay Chitale, Adv. Mr. Mayank Pandey, AOR Mr. Sameer Parekh, Adv. Mr. Sumit Goel, Adv. Ms. Sonal Gupta, Adv. Mr. Manu Bajaj, Adv. Ms. Nitika Pandey, Adv. M/s. Parekh & Co., AOR Mr. Sandeep Joshi, Adv. Mr. Anang Shandilya, Adv. Mr. Amit Gupta, Adv. Mr. Sanjay Kumar Visen, AOR Mr. Atul Sharma, Adv. Ms. Renuka Iyer, Adv. Mr. Abhishek Agarwal, AOR Mr. Ateev Mathur, Adv. Mr. Gagan Gupta, AOR Mr. Aman Raj Gandhi, AOR Ms. Sanjana Arora, Adv. Mr. Rohan Thawani, Adv. Mr. Hardeep Singh Anand, AOR M/s. Khaitan & Co., AOR

ORDER :

1. While issuing notice on 11.08.2017 in Special Leave Petition (Civil)No. 20417 of 2017, this Court directed that status quo as on the day with regard to the shareholding of Fortis Healthcare Holding Private Limited (‘FHHPL’, for short) in Fortis Healthcare Limited (‘FHL’, for short) be maintained. By next order dated 31.08.2017, it was clarified that the earlier order dated 11.08.2017 was intended to be in respect of ‘both the encumbered and unencumbered shares of Fortis Healthcare Limited held by Fortis Healthcare Holding Private Limited’.

2. Soon thereafter, various banks/financial institutions filed applications seeking modification/clarification submitting inter alia that certain shares of FHL held by FHHPL were already pledged with said banks/financial institutions and that it be directed that the orders dated 11.08.2017 and 31.08.2017 would not apply to such encumbered shares. For example, I.A. No. 89755 of 2017 (Volume No. 16) was filed by Axis Bank Limited stating in para 2 of the application that 1,83,75,000 shares were pledged with it since 2014. Similarly,


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