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Senior advocate Harish Salve, appearing on behalf of Malvinder and Shivinder Singh told the Delhi High Court on Wednesday that Daiichi Sankyo had full knowledge of all affairs of Ranbaxy Laboratories while purchasing stake in the company in 2008. Highlighting an extensive series of e-mails between several members of Daiichi's top brass during the time of the negotiations, Salve told the court that the Japanese pharmaceutical major's claims of misrepresentation of critical information about the internal issues of Ranbaxy was merely a farce to now extract unjustified reparations from the Singh brothers. "Even after having the knowledge of the situation, Daiichi bought the company nonetheless. Now they (Daiichi) make tall claims of misrepresentation. These (Daiichi's senior management) are hardened negotiators, not simpletons being mislead in any manner," said Salve in court.In support of this stance, the lawyer for the former Ranbaxy promoters also showed the court that Daiichi chose ..
Daiichi Sankyo approached the Delhi High Court on Monday to protest against the 80 percent stake sale of Religare Health Insurance by former Ranbaxy promoter's Malvinder and Shivinder Singh. The objection to the April 9 sale of Religare's insurance business with private equity fund True North Managers marks Daiichi's latest attempt at securing the assets of the Singh brothers for the realisation of a Rs 2,562 crore Singapore arbitration award in favour of the Japanese pharmaceutical major. Senor advocate C A Sundaram began Monday's proceedings by claiming that the former Ranbaxy promoters had, by conducting the Rs 1,300 stake sale, brazenly violated the court's earlier orders which had directed them to apply to court before transferring any of their unencumbered assets on March 6. Highlighting the history of the case, Sundaram mentioned that Daiichi had from the very beginning, questioned of the activities of the Singh brothers and their ability to pay for the arbitral award. "Time ...