Daiichi Sankyo - Latest News Update, Information, Photos & Videos on Daiichi Sankyo at Lokmat Times

The Enforcement Directorate (ED) on Thursday raided the residential premises of former Ranbaxy CEO Malvinder Mohan Singh and his brother Shivinder Singh in connection with a money laundering case.The raids were conducted after the ED registered a case under the Prevention of Money Laundering Act (PMLA) against them.In February last year, the two brothers, who were also the promoters of Fortis Healthcare, had tendered their resignation from the company's Board of Directors.In a letter, the Singh brothers attributed their decision to a Delhi High Court judgment, upholding the plea of Japanese pharmaceutical company Daiichi Sankyo, which was slated to collect Rs 3,500 crore as award money from the duo."In light of the recent High Court judgment, upholding the plea of Daiichi Sankyo to enforce the arbitration award, we believe this is in the interest of propriety and good governance. It is intended to free the orgsation from any encumbrance whatsoever that may be linked to the promoters. The Board will then be better enabled and empowered to guide the future direction of the orgsation without in any way being hampered by the impact of the Daiichi Sankyo judgment and our association at the Board," the letter read.( With inputs from ANI )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Lok Sabha Election 2024

Heatwave In India

Mumbai Water Cut

Maharashtra Lok Sabha Election

IPL 2024

Salman Khan

Daiichi SankyoFOLLOW

Daiichi sankyo, Latest News

Business :Ranbaxy's ex-promoters Singhs held guilty of contempt by SC

The Supreme Court on Friday held former Ranbaxy promoters, Malvinder and Shivinder Singh, guilty of contempt for violating the order directing the duo to not divest their shares in Fortis Healthcare Ltd. ...

National :ED raids residential premises of ex-Ranbaxy CEO, brother

The Enforcement Directorate (ED) on Thursday raided the residential premises of former Ranbaxy CEO Malvinder Mohan Singh and his brother Shivinder Singh in connection with a money laundering case. ...