Malvinder News 

Corporate legal cases kept Delhi HC busy in 2018

In the year gone by, the pharma sector also witnessed an ugly legal fight between the former promoters of healthcare major Ranbaxy -- Malvinder and Shivinder Singh -- and Japanese company Daiichi..
Zee News - Published

SEBI directs FHL, Fortis Hospitals to recover Rs 403 cr from Malvinder, Shivinder with due interest

The Securities and Exchange Board of India (SEBI) has directed Fortis Healthcare (FHL) and Fortis Hospitals (FHsL) to recover Rs 403 crore along with due interest from Malvinder Mohan Singh, Shivinder..
Sify - Published

Shivinder: No scope for settlement with Malvinder

In the latest twist to their fight, Malvinder, in a video circulated on social media had claimed he was hit by Shivinder during a board meeting. The bust-up reportedly happened as Shivinder was..
IndiaTimes - Published

Former Fortis promoters Malvinder and Shivinder Singh accuse each other of physical assault

Former Fortis and Ranbaxy promoters Malvinder Singh and Shivinder Mohan reportedly came to blows in the latest turn to their ongoing feud.
Firstpost - Published

'Malvinder & I can't work together,' says Shivinder

The incident reportedly happened on Wednesday as Shivinder was trying to disrupt the board meeting of a group company, Prius Real Estate, which he claimed has lent around Rs 2,000 crore to companies..
IndiaTimes - Published

Singh brothers' fued: Shivinder says latest fight closes all options to work with Malvinder

The incident reportedly happened on Wednesday as Shivinder was trying to disrupt the board meeting of a group company, Prius Real Estate, which he claimed has lent around Rs 2,000 crore to companies..
IndiaTimes - Published

Shivinder attacked me, says brother Malvinder

IndiaTimes - Published

Brother attacked me: Malvinder; no, he hit me, claims Shivinder

IndiaTimes - Published

NCLT dismisses HDFC plea for initiating insolvency proceedings against RHC Holding

The National Company Law Tribunal (NCLT) on Thursday dismissed the plea of HDFC Ltd to initiate insolvency proceedings against RHC Holding, a non-banking financial company promoted by Singh brothers --..
Firstpost - Published

For Singh brothers, truce is temporary, split only way out

NCLT allows Shivinder to withdraw petition against his brother Malvinder. Final decision to be taken by family members in their presence. - Published

NCLT allows Shivinder to withdraw plea against elder brother Malvinder

A two-member bench of NCLT headed by its Chairman Justice M M Kumar Friday allowed Shivinder to withdraw his plea.
Zee News - Published Also reported by •DNAIndiaTimes

Shivinder Singh withdraws petition against brother Malvinder: All you need to know about the Singh brothers fracas

NCLT granted Shivinder Mohan Singh's request to withdraw the petition of oppression and mismanagement he had filed against his brother Malvinder
Firstpost - Published

Shivinder Mohan Singh withdraws petition against brother Malvinder; market reacts favourably with Religare Enterprises trading up 6%

Shivinder had filed a lawsuit last week against older brother Malvinder and former chief of financial services firm Religare Enterprises Sunil Godhwani
Firstpost - Published

Fortis Healthcare: Shivinder Mohan Singh to withdraw NCLT petition against brother Malvinder after mother intervenes

Shivinder Singh had filed a lawsuit in the NCLT against brother Malvinder saying alleging "oppression and mismanagement" at their joint businesses.
Firstpost - Published

Shivinder moves NCLT to withdraw case against Malvinder - Published Also reported by •SifyDNA

Shivinder to withdraw petition in NCLT against Malvinder on mother’s advice

Shivinder had earlier this month filed an application before the Delhi bench of the National Company Law Tribunal (NCLT) alleging that collective and ongoing actions of Malvinder and Godhwani led to a..
IndiaTimes - Published

Malvinder Singh pushed Religare Enterprises into debt trap, alleges brother Shivinder

In 2016, Malvinder used his postion and "caused the companies to extend loan in the form of ICD of Fortis Healthcare Ltd and use it for the RHC Holding Company
DNA - Published

SFIO may expand Singh brothers' probe to Ranbaxy sale

Ministry of Corporate Affairs (MCA) is looking for a deeper investigation of all associated firms related to brothers Malvinder and Shivinder Singh – Ranbaxy, Religare and Fortis Healthcare. "This is..
DNA - Published

Malvinder Singh asked to deposit 3.5 mn Singapore dollars, 'disobeyed orders' says Delhi HC

The court's order came after it was informed by the counsel for Malvinder, who was present in the court, that his 45 lakh equity shares in Religare Healthcare Pvt Ltd were sold in Singapore in April.
Firstpost - Published

NCLT issues notices to Malvinder Singh, Sunil Godhwani; directs status quo over RHC Holdings

A two-member bench headed by NCLT President Justice M M Kumar issued notices to Malvinder Singh, Sunil Godhwani and others after Shivinder Singh's petition over alleged "oppression and..
Firstpost - Published

Fortis Healthcare case: Shivinder Singh says elder brother Malvinder forged wife's signature, led firm into debt trap

Shivinder Singh, the younger of the Singh siblings, who were synonymous with each other for decades, sued Malvinder for "oppression and mismanagement" of their companies.
Firstpost - Published

Singh brothers' Ligare Aviation may wind down

Ligare Aviation, the charter airline business of former Ranbaxy promoters Malvinder and Shivinder Singh, is close to winding down its business after it ran into "unimaginable losses". The airline..
DNA - Published

Fortis spat: Shivinder Singh says filing lawsuit against Malvinder, Sunil Godhwani was 'long overdue'; full text of letter

The spat between the Singh brothers -- Malvinder, Shivinder, who are also co-promoters of the beleagured Fortis Health Care has come out in the open
Firstpost - Published

Fortis Healthcare: Shivinder Singh sues brother Malvinder alleging oppression, mismanagement of business; moves NCLT

Last month, the brothers who are co-promoters of the Group had put the blame on former Religare Enterprises Chairman and Managing Director Sunil Godhwani for the group's troubles.
Firstpost - Published

Fortis Healthcare's Shivinder Singh sues brother, breaks business ties

(Reuters) - Fortis Healthcare Ltd co-founder Shivinder Singh said on Tuesday he had filed a lawsuit against older brother Malvinder Singh, alleging "oppression and mismanagement" at their..
Firstpost - Published Also reported by •Zee NewsReuters India

Another sibling war ensues! Shivinder sues brother Malvinder

"My family reputation kept me a silent spectator, as I mutely watched the organisation I founded come to a point where it was publicly auctioned; where my family and myself have been stripped of our.. - Published

Ex-Ranbaxy promoter drags elder brother to court

Former Ranbaxy Laboratories promoter and founder of Fortis Healthcare, Shivinder Singh, has dragged his elder brother Malvinder and Religare Enterprises’ former CEO and MD Sunil Godhwani to court for..
IndiaTimes - Published

Family business ‘mismanaged’, cries Shivinder, takes brother to court

Former Ranbaxy Laboratories promoter and founder of Fortis Healthcare, Shivinder Singh, has dragged his elder brother Malvinder and Religare Enterprises’ former CEO and MD Sunil Godhwani to court for..
IndiaTimes - Published

Shivinder Singh moves NCLT against elder brother Malvinder Singh

Former Fortis Healthcare promoter Shivinder Singh said Tuesday he has moved the National Company Law Tribunal (NCLT) against elder brother Malvinder and ex-Religare chief Sunil Godhwani, while..
DNA - Published

Fortis probe finds systemic lapses, moves to recover Rs 500 crore from Singh brothers

Fortis Healthcare today said it has initiated legal action to recover about Rs 500 crore of funds allegedly taken out of the company by its founders Malvinder and Shivinder Singh after an external..
DNA - Published

Daiichi-Ranbaxy row: Delhi HC allows sale of Singh brothers' firms

The order came after the CA submitted a report on May 8 giving the list of shares of the Singh brothers -- Malvinder and Shivinder, their family members and firms including RHC Holding Pvt Ltd and..
DNA - Published

TPG to buy out YES Bank, Axis Bank in Fortis Healthcare

TPG Capital-Manipal Hospital Enterprises (MHE) is working towards buying out Fortis Healthcare’s stakes with YES Bank, Axis Bank, Edelweiss Capital and others even as Fortis stock plummeted 13.37%..
DNA - Published

Value of Fortis-Manipal merged entity to be Rs 15K crore: Fortis CEO

The value of the entity resulting from the merger of Fortis Healthcare and Manipal Hospital Enterprises will be Rs 15,000 crore, a top Fortis official said today. The merger is expected to be..
DNA - Published

Fortis board approves demerger of its hospital business

Fortis Healthcare Ltd (FHL) on Tuesday said its board has approved demerger of its hospitals business, which will be acquired by Manipal Hospitals and TPG Capital, along with the sale of 20 per cent..
DNA - Published

YES Bank sells 2.17% stake in Fortis Healthcare

Private sector lender YES Bank has sold 2.17% stake in Fortis Healthcare, out of over 17% stake it acquired last month. In a regulatory filing, YES Bank said it had sold 1.12 crore shares..
Deccan Herald - Published Also reported by •DNA

DNA MONEY EXCLUSIVE: Manipal Health set to buy Fortis for Rs 6,500 crore

TPG Capital-backed Manipal Health Enterprises (MHE) is close to take over Fortis Healthcare Ltd. Sources told DNA Money that the deal, expected to be in the range of Rs 6,500 crore, is likely to be..
DNA - Published

Attach claim-free assets of Singh brothers' holding cos: HC

The Delhi high court on Monday ordered attachment of all unencumbered assets of two holding companies of former promoters of Ranbaxy Laboratories Malvinder Singh and Shivinder Singh. An unencumbered..
IndiaTimes - Published

Could Fortis be a repeat of Satyam?

Malvinder and Shivinder Singh promoted Fortis Healthcare could be facing "Satyam Computers like" situation, a proxy voting advisory firm has warned investors even as the Singh brothers have issued a..
DNA - Published

Promoters of Fortis set for an SFIO call-up

The Serious Fraud Investigation Office (SFIO) will soon summon Fortis promoters Malvinder Singh and Shivinder Singh in connection with alleged financial irregularities at Fortis Healthcare and Religare..
DNA - Published

Ex-Ranbaxy CEO restrained from selling properties in bank loan default case

A bench headed by presiding officer GVK Raju passed the interim direction on an application by Yes Bank seeking recovery of Rs 569.64 crore loan given to Oscar Investment Ltd. for which Malvinder M..
IndiaTimes - Published

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