"Malvinder Mohan Singh and Shivinder Mohan Singh have stepped down from the board of directors with effect from February 14, 2018," Religare Enterprises said in a regulatory filing informing about the changes in composition of the board of directors of the company without giving any reasons.
Also, Francis Daniel Lee, non-executive non-independent director has resigned with effect from February 13, 2018, it said.
Shivinder held the position as the non-executive vice chairman of the company and Malvinder as the non-executive non-independent director on the board, as per the company website.
The resignation is intended to free the organisation from any encumbrances that may be linked to the promoters, Fortis Healthcare had said.
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Earlier, a tribunal in Singapore had passed the verdict in favour of Daiichi holding that the former Ranbaxy promoters and brothers, Malvinder and Shivinder, had concealed information that the Indian company was facing probe by the US Food and Drug Administration and the Department of Justice, while selling its shares.
Total income of the company stood at Rs 7.96 crore for the quarter, slightly up from Rs 7.64 crore in the same period a year ago.
Stock of the company closed 4.97 per cent up at Rs 54.95 a unit on the BSE.
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