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Banner 2 बुधवार, अप्रैल 24, 2019 | समय 22:15 Hrs(IST) Sonali Sonali Sonali Singh Bisht

Ranbaxy brothers warned of jail-custody by SC

By HindusthanSamachar | Publish Date: Apr 5 2019 6:16PM
Ranbaxy brothers warned of jail-custody by SC
New Delhi, Apr. 05(HS): During hearing of the petition filed by Japanese firm Daiichi Sankyo for recovering its dues of Rs. 3500 crore, the former promoters of Ranbaxy were warned of jail custody by Supreme Court for not following its order to pay the dues. Last month, Malvinder and Shivinder Mohan Singh have been asked by SC to pay the dues to this Japanese firm awarded by Singapore Tribunal. Daiichi said that the intention of Singh brothers is to stretch the issue to move into insolvency proceedings. During previous court hearings, Chief Justice Ranjan Gogoi reiterated to pay the dues without any excuses to this firm. It is to be noted that this Japanese firm bought Ranbaxy in 2008 but it registered a case against Singh brothers for concealing information, with respect to which US Food and Drug Administration and Department of Justice inquiry was going on, in Singapore Arbitration Tribunal. Following this, there was order from high court in favor of Tribunal Award for Daiichi and both brothers resigned as directors from Fortis Healthcare before one year in February 2018. Presently, these brothers are estranged alleging mismanagement and oppression. Hindusthan Samachar/Bharati/Pramod \
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