SC holds former Ranbaxy promoters guilty of contempt of court


Team Udayavani, Nov 15, 2019, 11:50 AM IST

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

The apex court had earlier asked the Singh brothers to give it a plan as to how they would honour the arbitral award of Rs 3,500 crore granted by a Singapore tribunal against them and in favour of Japanese drug manufacturer Daiichi Sankyo.

A bench comprising Chief Justice Ranjan Gogoi and Justice Deepak Gupta held the former Ranbaxy promoters guilty of contempt of court and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to Malayasian firm IHH Healthcare was put on hold.

The apex court said that they would hear the Singhs on the quantum of sentence later.

The Japanese firm had filed a contempt petition against the former Ranbaxy promoters alleging that execution of their arbitral award had been in jeopardy as the Singh brothers disposed of their controlling stakes in Fortis Group to the Malaysian firm.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Gujarat: Rs 25.80-crore fake notes from ‘Reverse Bank of India’ seized in Surat

Withdrawal date not over, don’t know if there will be Cong prez poll on Oct 17: Jairam Ramesh

Periyapatna: Accident victim declared brain dead, 12 organs to be donated

Mangaluru: Customs officials at MIA seize gold worth Rs. 86,09,730 from Sep 25 to 30

Bharat Jodo Yatra: A new Rahul Gandhi & Congress have emerged, says Jairam Ramesh

Pakistan arrests 16 Indian fishermen

Putin signs treaties annexing Ukrainian regions


Related Articles More

Luxury hotel The Ocean Pearl, Ujire opens its doors for patrons

Vertex Workspace receives “Best Innovative Enterprise Award-2022”

RBI hikes benchmark lending rate by 50 basis points to rein in inflation

Markets fall in early trade

Reliance Jio Chairman Akash Ambani, OnlyFans’ CEO Amrapali Gan among TIME100 Next list of rising stars

MUST WATCH

Special story on elephant mahindra |Mysore Dasara

Day5 navaratri

Chief minister condemns Siddaramaiah’s ban on RSS statement

How to make dairy farm shed

Dasara Special : Family celebrating Gombe pooja since 50 years


Latest Additions

Gujarat: Rs 25.80-crore fake notes from ‘Reverse Bank of India’ seized in Surat

Mundra port drug haul case: Accused held from Delhi remanded in NIA custody till Oct 7

Withdrawal date not over, don’t know if there will be Cong prez poll on Oct 17: Jairam Ramesh

Periyapatna: Accident victim declared brain dead, 12 organs to be donated

Mangaluru: Customs officials at MIA seize gold worth Rs. 86,09,730 from Sep 25 to 30

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.