- (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, LA. 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, LA. No. 90247 of 2017 (Volume No. 18) was filed by Yes Bank Limited.
(3.) By order dated 15.02.2018, the earlier orders dated 11.08.2017 and 31.08.2017 were clarified by this Court to mean that the status quo granted would not apply to shares of FHL held by FHHPL which had been encumbered before the interim orders dated 11.08.2017 and 31.08.2017 were passed.;