Singh brothers embezzled public money to settle personal liabilities: EOW
The report further said that the charge sheet was filed last week in a funds-misappropriation case filed by RFL.
The Supreme Court on Friday held Singh brothers—Malvinder Singh and his brother Shivinder Singh have been held guilty by the Supreme Court of contempt of court in a case filed by Japanese firm Daiichi Sankyo.
Singh brothers were also asked not to divest their shares in Fortis Healthcare Limited. The court said, “Issue of an open offer to be decided when hearing the contempt case of Fortis.”
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The Japanese drugmaker Saiichi had approached the apex court to launch contempt proceedings against the former Ranbaxy promoters for non-payment of Rs 3500 crore arbitral award.
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Earlier in April, the top court had expressed its dissatisfaction over replies of the Singh brothers on payment to the Japanese firm. “You may be owning half of the world but there is no concrete plan as to how the arbitral amount would be realised. You said that somebody owed you Rs 6,000 crore. But this is neither here nor there,” the court had said in April hearing.
The Singh brothers have not paid up the Singaporean arbitration award of Rs 2,562 crore to the Japanese drug maker. In March, country’s apex court had asked Malvinder Singh and Shivinder Singh about how they were planning to comply with the Singaporean arbitration award.
Supreme Court had also threatened the duo-brothers to send them to jail if found that they have violated its order.
(With input from agencies)
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