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  Business   Companies  05 Apr 2019  ‘Pay your dues or go to jail’: SC to Ranbaxy promoters

‘Pay your dues or go to jail’: SC to Ranbaxy promoters

THE ASIAN AGE
Published : Apr 5, 2019, 11:40 am IST
Updated : Apr 5, 2019, 12:01 pm IST

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

Ex-Ranbaxy promoters Malvinder Singh and Shivinder Singh. (Photo: ANI)
 Ex-Ranbaxy promoters Malvinder Singh and Shivinder Singh. (Photo: ANI)

New Delhi: The Supreme Court on Friday warned Ranbaxy promoters Malvinder and Shivinder Singh that if they failed to pay the dues to the Japanese firm they could go to jail.

The top court bench led by Chief Justice of India Ranjan Gogoi said it will hear the contempt petition against former Ranbaxy owners on April 11.

 

“We will go ahead with contempt proceedings and send ex-Ranbaxy promoters to jail if there is order violation,” said Gogoi.

The court was dissatisfied over replies of ex-Ranbaxy promoters on payment of Rs 4,000 crore arbitral award amounts to Japanese firm Daiichi Sankyo.

The top court was hearing a petition by Daiichi Sankyo which is looking for to recoup Rs 4,000 crore granted to it by a Singapore tribunal in its case against Singh brothers.

Tags: ranbaxy, malvinder singh, shivinder singh, supreme court
Location: India, Delhi, New Delhi