Malvinder, Shivinder settlement talk with RFL runs into trouble

Japanese drug major Daiichi Sankyo has been fighting a prolonged legal battle with the Singh brothers

The settlement talks between former Fortis Healthcare promoters — brothers Malvinder Mohan Singh and Shivinder Mohan Singh — and Religare Finvest Limited (RFL) were put on hold on Wednesday after Daiichi Sankyo approached the Delhi High Court.

Asking to stop the talks, Daiichi Sankyo, which is pursuing the execution of the Rs 3,500-crore arbitral award, in its plea said the Singh brothers should first settle their claims before offering settlement to any other parties.

In its verbal observation, the Delhi High court on Wednesday morning said the settlement talks between Singh brothers and RFL cannot proceed without seeking permission from it first.