Singh brothers' feud: Shivinder says latest fight closes all options to work with Malvinder

NEW DELHI: As the feuding former Fortis and Ranbaxy promoters - the Singh brothers - reportedly came to blows, more youthful brother Shivinder Singh on Friday stated the newest incident closes all options for any possible way to work along with his elder sibling, Malvinder Singh.

In the newest twist to their battle, Malvinder Singh in a video circulated on social media had claimed that he was hit by means of Shivinder.

The incident reportedly took place on Wednesday as Shivinder was seeking to disrupt the board meeting of a bunch corporate, Prius Real Estate, which he claimed has lent round Rs 2,000 crore to companies owned by means of Gurinder Singh Dhillon and his family.

Brother attacked me: Malvinder; no, he hit me, claims Shivinder

Malvinder, former chairman and MD of Fortis Healthcare, alleged that his more youthful brother, Shivinder Mohan Singh, assaulted him on Wednesday. Shivinder denied the allegation and stated that it was Malvinder who hit him. Malvinder instructed TOI that Shivinder was seeking to disrupt a board meeting of a bunch corporate which he claimed has lent round Rs 2,000 cr.

The more youthful brother, in a remark denied the declare mentioning, "This is false and a shameless attempt to cast doubt on my integrity."

Shivinder additional stated, "It has been clear to me for some time that Malvinder and I cannot work together. The gulf between our value systems is clearly too wide. This latest incident closes all options for any possible solution to work together."

Putting out his aspect of the incident, Shivinder stated December five, he visited "our office for a scheduled extraordinary general meeting (EGM). On arriving, I was concerned to find out that one of the directors had left the ongoing board meeting due to unnecessary intimidating tactics being adopted by the (only) other board member, Malvinder's relative".

Shivinder additional stated, "it appeared that Malvinder was trying to coerce some employees to video record statements under duress. Concerned for the well-being of the employees I entered the room to understand what was going on."

"Angered on seeing him there", he added, "Malvinder attempted to forcibly restrain me and pinned me to the wall choking me. I tried to push him away in self-defense."

Shivinder stated he even made a made a police grievance, which was later withdrawn following intervention of the family to keep problems personal.

Earlier, appearing off a bruise on his forearm, Malvinder stated, "He (Shivinder) injured me here. He broke this button and he gave me a bruise here, he bruised me here. He kept threatening me and refused to budge until the team here separated him from me."

When contacted, Malvinder declined to remark.

The courting between the Singh brothers, erstwhile promoters of Fortis Healthcare and Ranbaxy, went bitter after allegations of fund diversion from the healthcare chain emerged.

It reportedly aggravated additional over payment of arbitration award to Daiichi Sankyo. Shivinder had introduced to pay his percentage of the Rs 3,500 crore award to the Japanese drug maker in a dispute related to the acquisition of Ranbaxy Laboratories.

Earlier in September this yr, Shivinder had filed a petition before the National Company Law Tribunal (NCLT) alleging that collective and ongoing movements of Malvinder and ex-Religare chief Sunil Godhwani resulted in a systemic undermining of the interests of the corporations and their shareholders.

He had also alleged that his elder brother Malvinder forged his wife's signature, perpetrated unlawful financial transactions and led the corporate into an unsustainable debt entice.

Later, on September 14, the petition was withdrawn by means of Shivinder from NCLT on his mother's recommendation.
Singh brothers' feud: Shivinder says latest fight closes all options to work with Malvinder Singh brothers' feud: Shivinder says latest fight closes all options to work with Malvinder Reviewed by Kailash on December 07, 2018 Rating: 5
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