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Delhi HC refuses to issue notice to Singh brothers on plea filed by Daiichi

HC said it can't allow Daiichi to 'hold a gun to Fortis head'

BS Web Team  |  New Delhi 

Shivinder Singh and Malvinder Singh
Shivinder Singh and Malvinder Singh

Delhi High Court today refused to issue notice to former Ranbaxy promoters Malvinder and Shivinder Singh on contempt plea filed by  Japanese drugmaker Sankyo.

HC said it can't allow to "hold a gun to head" for every deal the brothers enter into.

has moved court to stop the Singhs from selling their controlling stake in Healthcare Ltd to Malaysia-based healthcare group IHH, claiming that such a move violates orders passed by the court in an ongoing case to enforce a Rs 2,500-crore award granted to last year. 

It may be recalled that a Singapore tribunal ordered the Singhs to pay Rs 2,562 crore for concealing information regarding alleged wrongdoing at Ranbaxy while selling the company for $4.8 billion in 2008. 

First Published: Wed, June 21 2017. 23:31 IST