NEW DELHI: Eminent cardiologist Dr Ashok Seth acquired shares in 2013 from a Singapore-based company that manufactures stents, documents released as part of the Paradise Papers have revealed.
The chairman of Fortis Escorts Heart Institute (FEHI) held the shares for three years, by his own admission, and made a profit of Rs 54 lakh when he sold them in 2016. He prescribed the stents made by the company, Biosensors International Group Ltd, (BIGL) -a potential conflict-of-interest situation. When TOI contacted Dr Seth, at present in Frankfurt, he denied any wrongdoing. "I used only seven stents made by Biosensors International during the time I held its shares".
Dr K K Aggarwal, the president of the Indian Medical Association, supported the cardiologist. "I do not see any illegality in any doctor buying shares of a company he or she deals with. It would be questionable only if the shares were given for free or at a throwaway price," he said.
The chairman of Fortis Escorts Heart Institute (FEHI) held the shares for three years, by his own admission, and made a profit of Rs 54 lakh when he sold them in 2016. He prescribed the stents made by the company, Biosensors International Group Ltd, (BIGL) -a potential conflict-of-interest situation. When TOI contacted Dr Seth, at present in Frankfurt, he denied any wrongdoing. "I used only seven stents made by Biosensors International during the time I held its shares".
Dr K K Aggarwal, the president of the Indian Medical Association, supported the cardiologist. "I do not see any illegality in any doctor buying shares of a company he or she deals with. It would be questionable only if the shares were given for free or at a throwaway price," he said.
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