Hearing a case filed by Japanese firm Daiichi Sankyo, the Supreme Court on Monday asked former Fortis promoters Malvinder and Shivinder Singh to submit a plan to refund Rs 1,175 crore each by February 24.

Malvinder, through his lawyer senior advocate Dushyant Dave, told court he needed more time to pay the amount to which the bench asked him to issue notices to all those who owe money to RHC group.

The bench, headed by Justice Deepak Gupta, also granted two sessions of four hours each for Malvinder and Shivinder Singh to visit their lawyer’s office for meetings. The Singh brothers are lodged in Tihar jail under judicial custody.

The bench also said they don’t want to punish people if there is a scope for recovery and that every opportunity should be provided for recovery.

In the last hearing, the apex Court had held Malvinder and Shivinder Singh guilty of contempt of court for violating its order to not divert their stakes in Fortis Healthcare.

https://www.businesstoday.in/current/corporate/daiichi-case-supreme-court-singh-brothers-asked-to-submit-plan-by-24-february/story/395360.html

0 CommentsClose Comments

Leave a comment