Malvinder, Shivinder Singh move Supreme Court to challenge High Court ruling in favour of Daiichi Sankyo

Former RanbaxyBSE 5.63 % promoters Malvinder and Shivinder Singh have approached the Supreme Court seeking permission to appeal a high court judgement allowing Daiichi Sankyo to recover about Rs 3,500 crore from them as part of an international arbitration award.

The Singhs and a company controlled by them have sought the apex court’s permission to appeal the judgement, said people familiar with the development. The court may take up the matter on Friday, one person said on condition of anonymity.

“We confirm that respondents have filed a SLP (special leave petition) at the Supreme Court of India,” said a spokesperson for RHC Holding Pvt Ltd, the holding company of the brothers and one of the parties that approached the apex court. The spokesperson declined to comment further.

The Singh brothers resigned from the board of Fortis Healthcare Ltd last week after the Delhi High Court’s verdict on Daiichi’s petition to enforce the arbitration award it won at a Singapore tribunal in 2016. Fortis has further delayed the announcement of its second-quarter results, that was expected on Tuesday.

In one petition filed in the Supreme Court last week, the Singhs sought to appeal the Delhi HC’s judgement. ET has seen a copy of this petition.

As carried in ET

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