The Supreme Court on Friday held ex-Ranbaxy promoters Malvinder Singh and Shivinder Singh guilty of contempt of court in a case filed by Japanese firm Daiichi Sankyo.
The apex court had earlier expressed its dissatisfaction over replies of the former Ranbaxy promoters on payment of Rs 3,500 crore arbitral award amount to the Japanese firm. “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 bench had said in April hearing.
Malvinder and Shivinder Singh have not paid up the Singaporean arbitration award of Rs 2,562 crore to Daiichi Sankyo.
It had threatened to send them to jail if found that they have violated the apex court’s order.
Click here for Latest News updates and viral videos on our AI-powered smart news
For viral videos and Latest trends subscribe to NewsMobile YouTube Channel and Follow us on Instagram