New Delhi: A Supreme Court bench led by Chief Justice of India (CJI) Ranjan Gogoi said on Friday it will hear the contempt petition against former Ranbaxy owners Malvinder and Shivinder Singh on April 11. The apex court said it will send them to jail for disobeying orders against paying dues to Japanese firm Daiichi Sankyo.
“We will go into the issue – why you violated our orders. We will send you to jail. We have given you a chance but you are unable to pay,” the court said to both the ex-owners of the pharma company.
On an earlier occasion, the court had restrained both the brothers and 12 others from selling or transferring their shares or any movable or immovable property as disclosed by them before the high court.
The case dates back to April 2016 when a Singapore tribunal had passed the award in Daiichi’s favour holding stating the brothers had concealed information that their company was facing a probe by the US Food and Drug Administration and the Department of Justice while selling its shares.
Last year, the Delhi High Court had directed former Ranbaxy Laboratories Limited promoter Malvinder Singh to deposit with it 3.5 million Singapore dollars which he had obtained by selling his shares in a company in violation of court’s direction.
On August 10, 2018, the high court had restrained the Singh brothers from operating their bank accounts in India or abroad and selling any property. It had also directed the brothers and their firms RHC Holding Pvt. Ltd. and Oscar Investments Limited to disclose the bank account details.
The court had also recorded oath statements of the brothers in which they were asked various questions ranging from a number of bank accounts in India and abroad, their balances, properties, as well as assets.