Malvinder Mohan Singh News

Malvinder Mohan Singh, who was arrested on Thursday, had earlier today moved the court seeking quashing of the case registered against him. The EOW has also arrested his brother Shivinder, Sunil Godhwani, who is a former MD of Religare, Kavi Arora and Sunil Saxena in a separate case.

Singh brothers were booked in March on charges of cheating, criminal conspiracy and breach of trust related to Religare Enterprises and its subsidiary Religare Finvest Limited (RFL).

The court was hearing a petition filed by Daiichi Sankyo, which is seeking to recover Rs 3,500 crore awarded to it in an arbitration by a Singapore tribunal against the Ranbaxy brothers.

Fortis Healthcare has also asked the Securities and Exchange Board of India (Sebi) for a personal hearing on the matter.

The firm has landed in a controversy over alleged regulatory lapses in the transfer of funds to some promoter-linked companies.

Singh brothers have resigned as directors from the company's board following the Delhi High Court order upholding the Rs 3,500 crore arbitral award in favour of Daiichi Sankyo.

The Singh brothers have jointly tendered their resignation to the Board of Fortis Healthcare, which will discuss it in the meeting on February 13.

As their financial services venture Religare Enterprises continues an asset sell-off exercise, promoter brothers Malvinder and Shivinder Mohan Singh have made a surprise return to the company's board after a gap of over six years.

In a major setback to Malvinder Mohan Singh and Shivinder Mohan Singh, the erstwhile promoters of Ranbaxy Laboratories, the Singapore Court of Arbitration slapped a fine of about Rs 2,600 crore ($400 million) for supressing facts while selling the company to Japanese pharmaceutical company Daiichi Sankyo in 2008