Ranbaxy Brothers Arrested, Downward Spiral Intensifies
Ranbaxy Brothers Arrested, Downward Spiral Intensifies
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With the Singh brothers of Ranbaxy being arrested over allegations of financial fraud, Scrip looks at the history of issues at the company and how things appear headed even further downhill with Daiichi Sankyo also separately pursuing enforcement of damages against the brothers.
Author: Informa Pharma Intelligence
Publisher: Scrip
- Description
Brothers, Shivinder Singh and Malvinder Singh who once owned the leading Indian Drug firm, Ranbaxy Laboratories Ltd., were arrested by the Economic Offences Wing of the Delhi Police following complaints of misappropriation of finances estimate at more than INR23bn ($338m). The actions took place at Religare Finvest Ltd, the financial arm of Religare Enterprises which the brothers founded. Scrip looks at the long history of accusations and charges against the brothers, the crippling effect on the company’s brand, and details about the most recent charges of misappropriation of funds.
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