Smart Content App Hand picked content everyday

Image Credit: shortpedia

SC warns ex-Ranbaxy promoters to clear dues of Daiichi or face imprisonment

The SC on Friday has warned the previous promoters of Ranbaxy, Malvinder and Shivinder Singh to clear the dues or face imprisonment. The Singh brothers were supposed to pay the arbitral award amount of Rs 3,500 crore to Japanese firm Daiichi Sankyo, but they didn't. The amount was awarded to Daiichi by a Singapore tribunal in its lawsuit against Malvinder and Shivinder. They promised shares of Fortis to Daiichi earlier.