As per a release issued by UpHealth Inc, the amount of USD 110.2 million in damages was apportioned based on the shareholders percentage of each of the Indian directors and shareholders of Glocal Healthcare Systems
AMN
Former Sebi chief M Damodaran has reportedly been asked to pay up to nearly Rs 206 crore ($24.84 million) as damages by the International Court of Arbitration (ICA) in the US in a dispute involving NYSE-listed UpHealth and Glocal Healthcare Systems.
As per a release issued by UpHealth Inc, the amount of USD 110.2 million in damages was apportioned based on the shareholders percentage of each of the Indian directors and shareholders of Glocal Healthcare Systems.
According to it, 34.38 per cent is to be paid by Dr Syed Sabahat Azim, 34.38 per cent by Richa Sana Azim, 4.69 per cent by Gautam Chowdhury, 22.54 per cent by Damodaran, and 4.02 per cent by Kimberlite Social India Private Limited.