The Supreme Court on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its own order requesting them to not divest their shares in Fortis Healthcare Limited.


The Supreme Court on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its own order requesting them to not divest their shares in Fortis Healthcare Limited.









The Supreme Court had previously asked the Singh brothers to offer it a strategy regarding how they'd honor the arbitral award of Rs 3,500 crore awarded by a Singapore tribunal against them and in favour of Western drug maker Daiichi Sankyo.





A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held that the prior Ranbaxy promoters guilty of contempt of court and stated that they had broken its earlier arrangement in which the selling of the controlling stakes in Fortis Group into Malayasian company IHH Healthcare was placed on hold.





The apex court stated they would hear that the Singhs about the quantum of sentence afterwards.





The Japanese company had registered contempt petition against the prior Ranbaxy promoters alleging that implementation of the arbitral award was in danger since the Singh brothers disposed of the controlling stakes in Fortis Group into the Malaysian company.


The Supreme Court on Friday held former Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court for violating its own order requesting them to not divest their shares in Fortis Healthcare Limited. The Supreme Court on Friday held former Ranbaxy promoters Malvinder
Singh and Shivinder Singh guilty of contempt of court for violating its
own order requesting them to not divest their shares in Fortis
Healthcare Limited. Reviewed by Techno Sick on November 15, 2019 Rating: 5
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