NEW DELHI : The ex-promoters of Ranbaxy, Malvinder Singh and his brother Shivinder Singh, has twin troubles in the offing.
The Supreme court has found the pair guilty in a case filed by Japanese firm Daiichi Ssankyo. Fortis Healthcare, promoted by Malvinder too, has been found guilty on the same count.
The Japanese dug-maker accused Malvinder and Shivinder for disposing their assets in violation of a court order putting on hold, the acquisition of controlling stake in Fortis by Malaysian group IHH Healthcare.
The Singh brothers can get away from contempt by depositing Rs 1,175 crore.
Meanwhile trouble is also brewing on the home ground, as the Enforcement Directorate on Thursday, arrested the duo in a money-laundering case related to alleged misappropriation of Religare Fininvest(RFL) Ltd. Mlavinder is former CMD of RFL.
