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India's Supreme Court blocks Singh brothers from selling Fortis Healthcare stake

( August 14, 2017, 04:26 GMT | Insight) -- India's Supreme Court has directed Malvinder and Shivinder Singh to maintain their stake in Fortis Healthcare, backing a petition filed by Japanese drugmaker Daiichi Sankyo against a Delhi High Court order that would have enabled the Singhs to proceed with such corporate transactions, the Financial Express reports.India's Supreme Court has directed Malvinder and Shivinder Singh to maintain their stake in Fortis Healthcare, backing a petition filed by Japanese drugmaker Daiichi Sankyo against a Delhi High Court order that would have enabled the Singhs to proceed with such corporate transactions, the Financial Express reports. Daiichi had stated in its petition that the Singhs were attempting to thwart enforcement of a 35 billion rupee ($544.9 million) arbitration award granted to Daiichi by a Singapore tribunal to compensate for the Singhs' allegedly withholding key information when they sold pharmaceutical Ranbaxy to Daiichi in 2008.    ...

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