Now you are back from sanyas, pay Daiichi, Indian supreme court tells Shivinder

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BROTHERS: Malvinder Singh and Shivinder Singh – PHOTO/ FORTIS ANNUAL REPORT
By MoneyLife | INDIA |

The Supreme Court on Thursday told Fortis’s Shivinder Singh that since he has come back from ‘sanyas’, he should focus on paying along with his brother Malvinder Singh Rs 3,500 crore awarded to Japanese drug maker Daiichi Sankyo by a Singapore-based arbitration tribunal.

“Now you have come (back) to world, then pay”, said Chief Justice Ranjan Gogoi who along with Justice Deepak Gupta and Justice Sanjiv Khanna told both the brothers to inform the court how they are going to secure the arbitration tribunal award.

Initially senior counsel Fali Nariman appearing for Daiichi told the court that Malvinder Singh has said that he was anxious to pay his dues and Shivender Singh has said, “I have become a ‘sadhu’ and taken ‘sanyas’ and I don’t want to do anything now.”

However, when senior counsel P.S. Patwalia told the court that he has come back to world, CJI Gogoi said, “Now you have come to the world, then pay.”

Patwalia appeared for Shivinder Singh

Both Malvinder Singh and Shivinder Singh were asked to give plan for securing the Singapore-based arbitration tribunal’s award asking them to pay it Rs 3,500 crore in a dispute relating to Japanese drug maker Daiichi Sankyo’s acquisition of their family pharma company Ranbaxy.

Read the full story, ‘Now you are back from sanyas, pay Daiichi, SC tells Shivinder’, 15 March 2019, here.

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