The former promoters of pharmaceutical company Ranbaxy, Malvinder Mohan Singh and his brother Shivinder Mohan Singh were on Friday told by the Supreme Court that they could be jailed if they failed to pay dues to Japanese firm Daiichi Sankyo.
“We will go into the issue – why you violated our orders. We will send you to jail. We have given you a chance but you are unable to pay,” the court said.
The Supreme court was hearing a petition by Japanese firm Daiichi Sankyo which is seeking to recover Rs. 3,500 crore awarded to it by a Singapore tribunal in its case against Malvinder Singh and Shivinder Singh.
A bench headed by Chief Justice Ranjan Gogoi said, “You may be owning half of the world but there is no concrete plan as to how the arbitral amount would be realised. You said that somebody owed you Rs. 6,000 crore. But this is neither here nor there.”
The court had last month asked the two brothers to inform it on how they plan to comply with the order passed against them by the Singapore tribunal.
The top court has fixed April 11 as the next date of hearing on the contempt petition against ex-Ranbaxy promoters.