Japan firm wins â¹3,500cr appeal against ex-Ranbaxy promoters
The Delhi High Court has allowed Japanese drugmaker Daiichi Sankyo to enforce a foreign arbitration award to recover about â¹3,500 crore from former Ranbaxy promoters Malvinder and Shivinder Singh. Daiichi had purchased a majority stake in Ranbaxy from the brothers for $4.6 billion in 2008. However, it alleged that they concealed information regarding wrongdoing at Ranbaxy when selling the firm.