Daiichi moves contempt plea against Singh brothers in Supreme Court

Daiichi plea argues Singh brothers, Indiabulls created share encumbrances in violation of apex court order.

The former promoters of Fortis group are in for more trouble in the following weeks after the Japanese drugmaker Daiichi-Sankyo moved a contempt plea against the Singh brothers and Indiabulls in the Supreme Court (SC) alleging that the two created encumbrances on 1.2 million shares of Fortis Healthcare held by Fortis Healthcare Holding despite the court’s orders against it. The court will hear Daiichi-Sankyo’s plea on December 13.

The apex court had on February 15 allowed banks and financial institutions to sell shares of Fortis Healthcare pledged with them on or before August 31 by the Singh brothers. The court