Business Standard

HC allows Daiichi plea seeking Rs 35.6-bn arbitral award against Singh Bros

The arbitral award is also under challenge by Singh brothers in Singapore Court of Appeals.

Shivinder Singh, Malvinder Singh
Premium

Shivinder Singh (left), Malvinder Singh

BS Web Team New Delhi
Delhi High Court today allowed Japanese pharmaceutical major Daiichi's plea against former Ranbaxy promoters Malvinder and Shivinder Singh and enforced Rs 35.62-billion arbitral award.

The arbitral award is also under challenge by Singh brothers in Singapore Court of Appeals.

Daiichi had approached the High Court last year to seek the enforcement of a Rs 25.62-billion Singapore arbitral award delivered in April 2016.

Daiichi had additionally claimed Rs 10 billion in interest and lawyers’ fees incurred in connection with the proceedings.

“Today’s judgment by the Hon’ble Delhi High Court has given partial success to some of the sellers of shares

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 31 2018 | 3:53 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com