Delhi HC summons SpiceJet CEO, COO after failure to pay lessors
The bench "specifically denied" the request of the counsel for judgment debtor, SpiceJet, for the appearance of the two senior officers before the court through video conferencing.
The promoters of Fortis Healthcare — Malvinder Mohan Singh and Shivinder Mohan Singh — resigned from the company’s board on Thursday.
According to a late night BSE filing by the Fortis company on Thursday, the promoters executive chairman Malvinder Singh and non-executive vice chairman Shivinder Singh resigned.
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On 31 January, the Delhi High Court upheld an international arbitral award of Rs 3,500 crore passed in favour of Japanese pharma firm Daiichi Sankyo against the former promoters of Ranbaxy Laboratories.
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It was alleged that the former promoters of India’s Ranbaxy Laboratories had concealed information about proceedings against them by American food and drug department.
Malvinder Mohan Singh and Shivinder Mohan Singh were the founders of the pharmaceutical company Ranbaxy, they later sold the company to the Japanese pharma firm for $2.4 billion in 2008. Shivinder Mohan Singh founded Fortis Healthcare with his elder brother Malvinder in late 1990s.
A tribunal in Singapore had passed the verdict in favour of Daiichi holding that the former Ranbaxy promoters and brothers, Malvinder Singh and Shivinder Singh, had concealed information that the Indian company was facing probe by the US Food and Drug Administration and the Department of Justice, while selling its shares.
(with agency inputs)
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