- Monday, March 10, 2025
By: Shubham Ghosh
The Supreme Court of India on Thursday (22) sent to jail former Ranbaxy promoters Malvinder Singh and his brother Shivinder Singh.
The Singh brothers had sold Ranbaxy to Japanese pharma giant Daiichi Sankyo in 2008 and earned a windfall amount of Rs 9,576 crore (£1.04 billion).
But a few years later, the brothers ran into trouble when Daiichi alleged that they concealed information and dragged them to an international court.
The Singh brothers were accused of hiding information of regulatory problems that Ranbaxy had in the US where it faced a probe by the US Food and Drug Administration and the justice department.
The brothers eventually lost the case and were ordered by a Singapore tribunal to pay around Rs 4,000 crore (£438.1 million).
The case later reached Indian courts, with the Supreme Court threatening to jail the duo if they didn’t pay the tribunal award.
