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1-min read

Since You Aren't a Sadhu Anymore, Start Thinking About Money, SC Tells Former Fortis Promoter

Shivinder and his elder brother Malvinder Singh had been called upon by a bench headed by Chief Justice of India Ranjan Gogoi in connection with a contempt plea moved by Daiichi Sankyo.

Utkarsh Anand | CNN-News18

Updated:March 14, 2019, 11:23 AM IST
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Since You Aren't a Sadhu Anymore, Start Thinking About Money, SC Tells Former Fortis Promoter
File photo of Malvinder Singh and Shivinder Singh. (Courtesy: Reuters)
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New Delhi: The Supreme Court on Thursday told former promoter of Fortis Shivinder Singh that since he is no more a sadhu, he should start thinking about the money.

Shivinder and his elder brother Malvinder Singh had been called upon by a bench headed by Chief Justice of India Ranjan Gogoi in connection with a contempt plea moved by Daiichi Sankyo.

Daiichi has come to the court for securing Rs 4,000 crore of foreign arbitration award in the their favour and had got the stake sale of Fortis Hospital to IHH Healthcare Berhad, Malaysia stopped by way of an interim order of the apex court.

When the sparring brothers showed up on Thursday, senior lawyer Fali S Nariman, representing Daiichi, pointed out that while Malvinder claims is trying to pay off all debts, Shivinder says he has become a sadhu.

Interacting with Shivinder, CJI Gogoi said: "You are telling us that you have nothing to do with business anymore and that your brother is looking after it since you have renounced the world. If you have a debt to pay, your renouncing the world wouldn't matter to us." At this, Shivinder's lawyer PS Patwalia submitted: "Mr Shivinder has come back to the world in December 2017."

"Oh! That's good. Now that your lawyer says you've come back to the world, start thinking about money," retorted the CJI.

The court, then referring to the foreign tribunal award in the favour of Daiichi, told Singh brothers: "It is not just about Rs 4000 Crore or individual honour It is a question of honour for the country. It doesn't do good for the country. You were once the flag- bearers of this country. Pay your debts and come out of this."

It asked Malvinder and Shivinder to sit with their accountants and figure out a way to pay off their debts and honour their commitments. "We believe this was your first time in the court. Let your next appearance be your last. Come back with a plan," CJI told Singh brothers, adjourning the case to March 28.

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