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In a setback, Singh brothers lose appeal in Rs 3,500-crore arbitral award

The brothers are currently in judicial custody following Supreme Court order in November last year that held them guilty of violating earlier court orders

Shivinder Mohan Singh, Malvinder Mohan Singh, Ranbaxy, Fortis, Religare

Former Ranbxy Laboratories promoters Shivinder Mohan Singh (top left) and Malvinder Singh chairman (front centre). Photo: Dalip Kumar

Sudipto Dey New Delhi
In a setback to the Singh brothers, Malvinder Mohan Singh and Shivinder Mohan Singh, Singapore Court of Appeal has dismissed the appeals filed by them against the judgment of the HC of Singapore, which had refused to set aside the arbitral award in favour of Daiichi Sankyo Company.
The brothers are in judicial custody following the Supreme Court order last year that held them guilty of violating earlier court orders that forbade them to sell their stake in Fortis Healthcare.
The brothers were given time till March 2020 for a plan to honour the Rs 3,500-crore arbitration order against them.

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First Published: May 29 2020 | 12:50 AM IST

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