Singh brothers sentenced to 6 months in jail sentence in the Fortis-Daiichi-Sankyo Sankyo case

The former Ranbaxy promoters Malvinder Singh and Shivinder Singh are accused of hiding information about the Ranbaxy in the course of its sale of an entire share to Daiichi Sankyo,

The Supreme Court (SC) has announced a prison period of six years for Malvinder Singh as well as Shivinder Singh 

Daiichi Fortis case. The stay of open offer of the IIH open-offer has been ordered to remain in effect.

The apex court has requested to the Delhi High Court to grant remands to the case. Additionally, a an audit of the forensics was ordered in the Fortis-IIH transaction.

In the case that is before the court, the former ranbaxy promotors Malvinder Singh and Shivinder Singh are accused of obfuscating details about wrongdoings within the Ranbaxy company in 2008

when they transferred a large stake in Ranbaxy to the Japanese firm Daiichi Sankyo in the year 2008. 

The Singapore tribunal had in the year 2016 given Daiichi an amount of $3500 in damages.

In 2018 Daiichi Sankyo filed a complaint with the Supreme Court alleging that the Singh Brothers had diverted funds through several fake companies 

In a separate instance in another case, the Singh brothers borrowed $2315 million to Religare Enterprises and Religare Finvest.

In a separate instance in another case, the Singh brothers borrowed $2315 million to Religare Enterprises and Religare Finvest.

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