SC refuses to lift block on Fortis' takeover by Malaysia's IHH

The Supreme Court on Friday refused to lift the block on completion of the takeover of Fortis Healthcare by Malaysia's IHH Healthcare. The court held Fortis founders Malvinder Singh and Shivinder Singh guilty of contempt of court and said it could start similar proceedings against the Indian hospital chain. IHH is already Fortis' largest shareholder with a 31% stake.