SC asks ex-Ranbaxy promoters to apprise how they’ll comply with Rs 3500 cr arbitral award
Team Udayavani, Mar 14, 2019, 6:24 AM IST
New Delhi: The Supreme Court Thursday asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to apprise it how they propose to comply with the Rs 3500 crore arbitral award passed against them by a Singapore tribunal.
A bench headed by Chief Justice Ranjan Gogoi asked the Singh brothers, who were present in the court, to consult their financial and legal advisors and give a concrete plan on how they will comply with the tribunal’s order.
“It is not about individual honour but it doesn’t look good for the country’s honour. You were the flag bearers of the pharmacare industry and it doesn’t look good that you are appearing in court,” the bench also comprising Justices Deepak Gupta and Sanjiv Khanna said.
The bench asked the Singh brothers to appear before it on March 28 and submit the plan, saying “hopefully it will be the last time you are appearing in the court”.
The apex court was hearing the plea of Japanese firm Daiichi Sankyo which is seeking to recover Rs 3,500 crore, awarded to it by a Singapore tribunal in its case against Malvinder and Shivinder Singh.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Nifty, Sensex rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%
IndiGo, Air India plan to purchase up to 170 wide-body planes in little over a year
Kotak Mahindra Bank shares tank 13%; mcap erodes by Rs 37,721 crore post RBI action
Four-day market rally makes investors richer by Rs 8.48 lakh crore
Kotak Bank barred from onboarding customers online, issuing fresh credit cards
MUST WATCH
Latest Additions
SC verdict on EVM tight slap to Congress-led opposition: PM Modi in Bihar rallies
Banjarumale hamlet in Belthangady records 100 per cent voting
Board exams twice a year from 2025: MoE asks CBSE to work out logistics, no plan for semesters
There is a lot left in the tank: Du Plessis on RCB snaping six-game losing streak
Lok Sabha 2024: Tribal hamlet of Banjarumale in Belthangady records 100% voter turnout