Pay up or go to jail: Delhi HC summons Singh brothers in Daiichi case

The Singh brothers tendered their resignation as directors of Fortis Healthcare in February this year and currently hold negligible shareholding in the company

Delhi High Court has asked brothers Malvinder and Shivinder Singh to personally appear in the court on August 10 to explain the reasons for discrepancies in their statements over holdings in Fortis Healthcare. This would be the first time the Singh brothers have been summoned to court in this matter.

This summons was in response to a plea filed by Daiichi Sankyo against the Fortis-IHH Healthcare deal. In course of the arguments, the judge observed that “things are getting out of hand”. In a strong message to the brothers, the judge noted that the Singhs will have to cough up