SC asks former Ranbaxy promoters to apprise how they'll comply with Rs 3500 crore arbitral award

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Mar 14, 2019

1:33PM

SC asks former Ranbaxy promoters to apprise how they'll comply with Rs 3500 crore arbitral award

FILE PIC: PTI

The Supreme Court has asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to apprise it how they propose to comply with the 3,500 crore rupee arbitral award passed against them by a Singapore tribunal.

A bench, headed by Chief Justice Ranjan Gogoi, asked the Singh brothers to consult their financial and legal advisors and give a concrete plan on how they will comply with the tribunal's order.

The bench said it was not about individual honour, it didn't look good for the country's honour. The court asked them to appear before it on 28th of this month and submit the plan.

The apex court was hearing the plea of Japanese firm Daiichi Sankyo which is seeking to recover 3,500 crore rupees, awarded to it by a Singapore tribunal in its case against Malvinder and Shivinder Singh.