The Supreme Court on Monday asked brothers Malvinder and Shivinder Singh to provide a timeline for depositing Rs 1,175 crore each in the Daiichi Sankyo case.
The apex court also asked Daiichi and Fortis Healthcare, once owned by Singh brothers, to reply to Securities and Exchange Board of India (Sebi) plea on allowing Malaysian operator IHH Healthcare Bhd to take over the hospital chain. The court will now hear the case on 16 March.
Daiichi Sankyo has been locked in a legal battle since a Singapore tribunal, in April 2016, passed an arbitration award against the Singh brothers, holding that they concealed information that their company Ranbaxy Laboratories was facing probe by the US Food and Drug Administration and the Department of Justice while selling it in 2008 to the Japanese firm.
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On 31 January 2018, the Delhi high court had upheld the enforceability of the award–now amounting to Rs 3,500 crore, passed by the Singapore tribunal.