The Chief Justice of India sitting with Justice Indira Banarjee and Justice KM Joseph sentenced Malvinder Singh and Shivinder Singh former promoters of Ranbaxy to undergo six months and also a fine of Rs. 5000 (Five Thousand) to be paid within 4 weeks for flouting its order.

What is the Case?

The Singh Brothers had sold Ranbaxy to the Japanese Pharma Company Daiichi Sankyo in 2008 and they earned Rs. 9,576 Crore out of this transaction.

A few years after this deal, Daichii accused both the brothers of concealing information and dragged them to an international court of the regulatory problems Ranbaxy was facing in the United States. The Singh brothers lost the case and they were ordered to [pay a fine of Rs. $500 million (about 4000 crores) by the Singapore Tribunal. Later the case reached Indian Courts. The Supreme Court threatened the brothers to send to jail if the award of the tribunal is not paid.

The Bench of the Supreme Court also ordered and directed the High  Court to consider the appointment of Forensic auditors to analyze the transactions entered into by the notice bank and financial institutions and to look into if such transactions were genuine. 

The Court also directed the amount to be deposited in the registry, The shares lying with the banks and financial institutions and all the properties offered by them in their attempt to partially purge themselves of the contempt shall be made available to the executing court and shall abide by such order as the executing court deem appropriate to pass.