Fortis Bosses Malvinder and Shivinder Mohan Singh Fined Rs 2,600 Cr For Shady Ranbaxy Deal

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Malvinder and Shivinder Mohan Singh -
Malvinder and Shivinder Mohan Singh -"brother, looks like we’re in trouble".
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Azadi Ka Amrit Mahoutsav

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Kolkata|
Malvinder and Shivinder Mohan Singh sold their family business to Japanese Daiichi Sankyo in 2008 for $2.4 billion and must have felt smug in ‘concealing’ facts. Now that the jig is up they have to shell out 2,600 Crore INR as a fine.
Ordered by Singapore court on the basis of an arbitration case filed by Daiichi Sankyo in 2013, they now will be richer by that sum having led astray due to “suppressing and misrepresenting” information that the cheating Indians presented about their controlling stakes in Ranbaxy.
Malvinder, Shivinder Mohan Singh 1
The malpractice came to light when Daiichi Sankyo later resold Ranbaxy to Mumbai-based Sun Pharma and discrepancies surfaced against the slew of sanctions imposed by the US drug regulator on Ranbaxy over concerns about manufacturing processes at its plants.
Singh brothers subsequently invested their ill-gotten gains to form Fortis hospitals and later also floated Religare Enterprises.
Of course the penalty will be challenged, but will it save the Indian’s reputation for dubious dealings and will one seek cure from dishonest enterprise?

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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