Delhi HC dismisses Malvinder Singh's plea on access to pension fund account

Malvinder had moved HC claiming access to pension funds as it was outside purview of attachment

Aashish Aryan New Delhi
Malvinder Singh

Malvinder Singh

The Delhi High Court on Friday dismissed a plea moved by former Fortis promoter Malvinder Mohan Singh seeking permission to operate the accounts in which he received pension from Daiichi Sankyo and Sun Pharmaceuticals Limited. A detailed copy of the judgement is awaited.
Malvinder had moved the Delhi High Court in October last year claiming that he should be allowed access to the pension funds as it is outside the purview of attachment. The pension, Malvinder had said in his plea, was being received even after Daiichi assumed control of Ranbaxy.
As a part of a 2008 deal, Singh had been receiving nearly Rs 45 lakh as pension every quarter, first from Daiichi and later from Sun Pharma. Singh and his younger brother Shivinder Mohan Singh had sold their stake in Ranbaxy Pharmaceuticals Limited to Daiichi Sankyo in 2008. Sun Pharma had later in 2014 acquired Ranbaxy from Daiichi Sankyo in a share-swap deal.

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First Published: Mar 29 2019 | 6:24 PM IST

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