Supreme Court threatens Singh brothers will be jailed plea against Ranbaxy

New Delhi: Miffed at replies of former Ranbaxy promoters Malvinder and Shivinder Singh to its directive to submit a plan for paying Rs 4,000 crore to Daiichi Sankyo, as awarded by a Singapore tribunal, the Supreme Court Friday threatened to send them to jail if found that they have violated the apex court’s order. A bench headed by Chief Justice Ranjan Gogoi said it will now hear on April 11 the contempt petition by the Japanese firm against the Singh brothers for non-payment of the arbitral award.

“What we propose to do is that we will hear the contempt petition alleging violation of this court’s order. If we find that there is violation of orders, we will send them to jail,” said the bench, also comprising Justices Deepak Gupta and Sanjiv Khanna. It also asked the duo to be present before the top court on the next date of hearing.

On March 14, the Supreme Court had asked the former Ranbaxy promoters to submit a concrete plan for paying Rs 4,000 crore to Daiichi Sankyo as directed by a Singapore tribunal and had asked them to consult their accountants as also financial and legal advisors and apprise it by today.  The bench considered the submissions of senior lawyers Kapil Sibal and P S Patwalaia, representing Malvinder and Shivinder respectively, on their plans to give money for honouring the arbitral award.

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