Singh brothers face rejection towards their appeal

The Singh brothers Malvinder Singh and Shivinder Singh have run out of legal options in India to avoid paying a Rs 35 billion award to Daiichi Sankyo after the Supreme Court dismissed their appeal against a lower court verdict.

The apert court bench stated that “Heard the counsels for the petitioners and perused the relevant material. We are not inclined to interfere. Special Leave Petitions are accordingly dismissed. Consequently, all applications are also disposed of.”

On 31 January, the Delhi high court had allowed Daiichi Sankyo to enforce a foreign arbitral award ordering the Singh brothers and 13 others to pay about Rs3,500 crore to the Japanese drug maker. The Singh brothers approached the Supreme Court challenging this order.

The Singhs have appealed the arbitration award in Singapore. Harish Salve, representing the Singhs , and Gopal Subramanium , the counsel for Daiichi in India , are expected to argue the matter in Singapore in April , according to a person aware of the development.

“We are disappointed by the decision. The court decided not to go into the merits of the majority arbitration award.We maintain that there was no misrepresentation in the Ranbaxy deal to Daiichi Sankyo and these are false accusations against us made four years after Daiichi bought Ranbaxy,” the Singh brothers said in an official statement.