Former Ranbaxy promoters Malvinder, Shivinder Singh guilty of contempt: Supreme Court

The Supreme Court on Friday held Ex-Ranbaxy promoters Malvinder Singh and his brother Shivinder Singh guilty of contempt of court in a case filed by Japanese firm Daiichi Sankyo.

According to the sources, the Apex Court said the former promoters violated its order asking them not to divest their shares in Fortis Healthcare Limited.

A bench comprising Chief Justice of India (CJI) Ranjan Gogoi and Justice Deepak Gupta held the Singh brothers guilty and said that they had violated its earlier order by which the sale of their controlling stakes in Fortis Group to the Malayasian firm IHH Healthcare was put on hold.

The Japanese firm has sought enforcement of a Rs 3,500-crore arbitration award granted to it by Singapore tribunal in its case against Malvinder Singh and Shivinder Singh.

The top court said it would hear the Singh brothers on the quantum of sentence later.