Ranbaxy case: SC holds Malvinder, Shivinder Singh guilty of contempt

The apex court said that they would hear the Singhs on the quantum of sentence later.

Ex-Ranbaxy promoter Malvinder Singh arrested by ED in money laundering case

ED also arrested former CMD of Religare Enterprises Ltd Sunil Godhwani.

The Singh brothers had moved a bail plea which will be heard later along with that of Arora tomorrow.

Chief Metropolitan Magistrate allowed custodial interrogation of five people arrested by Economic Offences Wing of Delhi Police.

The raids were conducted after the ED registered a case under the Prevention of Money Laundering Act (PMLA) against them.

The NCLAT had in January this year issued notices to RHC Holding and other parties and directed them to file their replies.

The company has the full support of its shareholders to bring to justice erstwhile promoters and management, company statement said.

Top court bench led by CJI Ranjan Gogoi said it will hear the contempt petition against former Ranbaxy owners on April 11.

The company had then sold its stake in Ranbaxy to Sun Pharmaceuticals for Rs 22,679 crore in 2015.

Sebi coordinated Fortis’s ex-promoters and several promoter cos to pay secured inter-corporate loans that had gone out of Fortis.