Submit a Plan on Rs 3,500 Cr Arbitral Award: SC to Singh Brothers
The bench asked the Singh brothers to appear before it on 28 March and submit the plan.
advertisement
The Supreme Court on Thursday, 14 March, asked former Ranbaxy promoters Malvinder Singh and Shivinder Singh to apprise it how they propose to comply with the Rs 3,500 crore arbitral award passed against them by a Singapore tribunal.
A bench headed by Chief Justice Ranjan Googi asked the Singh brothers, who were present in the court, to consult their financial and legal advisors and give a concrete plan on how they will comply with the tribunal's order.
"It is not about individual honour but it doesn't look good for the country's honour. You were the flag bearers of the pharmacare industry and it doesn't look good that you are appearing in court," the bench also comprising Justices Deepak Gupta and Sanjiv Khanna said.
The apex court was hearing the plea of 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 and Shivinder Singh.
(At The Quint, we question everything. Play an active role in shaping our journalism by becoming a member today.)