Will send you to jail if found guilty: SC to Ranbaxy promoters

A file photo of former Ranbaxy promoters Malvinder Singh and Shivinder Singh. PTI

Japanese drug maker Daiichi Sankyo filed a petition at the Supreme Court seeking to recover ₹3,500 crore from Ranbaxy promoters. The SC on April 5 warned former promoters of the company Malvinder Singh and Shivinder Singh, said they would go to jail if found guilty.

Daiichi is seeking to recover the ₹3,500 crore awarded to it by the Singapore tribunal, according to a NDTV report. In March, the court had asked the brothers to inform it of how they plan to comply with the order passed by the Singapore tribunal. One of the brothers told the court that his assets could be sold and that he is yet to receive dues of Rs 6,300 crore. Sun Pharmaceuticals eventually purchased Ranbaxy from Daiichi Sankyo for $3.2 billion.

In February 2018, the Singh brothers resigned from the board of Fortis Healthcare after the Delhi High Court order upheld the ₹3,500 crore arbitral award in favour of Daiichi Sankyo.