NEW DELHI: The
Supreme Court on Friday said it is dissatisfied with the replies of former
Ranbaxy
promoters, Singh brothers (Malvinder and Shivinder), on payment of arbitral award amount to Japanese drug maker Daiichi Sankyo.
The top court stated that it will go ahead with contempt proceedings and send ex-Ranbaxy promoters to jail if violation of its orders is established.
"You may be owning half of the world but there is no concrete plan as to how the arbitral amount would be realised. You said that somebody owed you Rs 6,000 crore. But this is neither here nor there," a SC bench said.
The next hearing on contempt petition against Singh brothers has been fixed on April 11.
Earlier in March, the court had asked Singh brothers to submit a concrete plan for paying Rs 3,500 crore to Daiichi Sankyo as directed by a Singapore tribunal.
Calling them "flag bearers" of the Pharmacare industry of the country, a top court bench said that it does not look good that they are in the court.
The Japanese firm's contempt plea against the Singh brothers seeks a recovery from them.
Daiichi had bought Ranbaxy in 2008. Later, it had moved the Singapore arbitration tribunal accusing that the Singh brothers had concealed information that Ranbaxy was facing probe by the US Food and Drug Administration and the Department of Justice, while selling its shares.
(With PTI inputs)
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