Malvinder Singh, one of the former promoters of Fortis Healthcare, Ranbaxy and Religare Enterprises, on Thursday accused his brother Shivinder Singh, also an ex-promoter, of physical assault.
“Shivinder Mohan Singh assaulted me, he physically hit me,” Malvinder Singh said in a video. “He hurt me. He injured me. He broke the button. He bruised me...kept threatening me and refused to budge until the team here [at the hotel] came together and separated him from me.” The businessman claimed the incident took place a little after 6 pm on Hanuman Road, New Delhi, on December 5.
The feud between the brothers began after they lost control of Fortis Healthcare and Religare Enterprises Ltd. In October, the Securities and Exchange Board of India ordered the Singhs and eight firms related to them to pay Rs 403 crore to Fortis after an inquiry found they had fraudulently diverted funds from Fortis and misrepresented financial statements.
Malvinder Singh told Mint that he had to visit Ram Manohar Lohia hospital to get treated for his injuries. “There are internal injuries,” he said. “My hand has been plastered. I didn’t file a complaint because my mother intervened, and I have closed the chapter.”
Shivinder Singh dismissed his brother’s allegations, calling them “false and fabricated”.
The brothers were heirs to the Ranbaxy Laboratories business. They owe around Rs 3,500 crore to Daiichi Sankyo after a court found them guilty of luring the Japanese drug maker to purchase Ranbaxy by withholding information. Sun Pharmaceuticals eventually purchased Ranbaxy from Daiichi Sankyo for $3.2 billion.
In September, Shivinder Singh moved the National Company Law Tribunal against Malvinder Singh, accusing him of oppression and mismanagement. Shivinder Singh also sought action against Sunil Godhwani, a former Religare Enterprises chairperson. He claimed that his brother and Godhwani ran the family business into the ground while he was on a hiatus in 2015.