ThePrint Exclusive: While brothers face trial in separate case, Delhi Police’s Economic Offences Wing has booked Shivinder’s wife, Aditi, after a complaint by Japna, Malvinder's wife.
The fight for Fortis, allegedly defrauded by founders Malvinder & Shivinder Singh, has seen 4 takeover bids, 2 scrapped deals, and most of the board being replaced.
Amid govt's crackdown on defaulting borrowers, former Ranbaxy and Fortis promoters Malvinder & Shivinder Singh have been arrested for routing money to a spiritual leader and a fraud case.
Billionaire Malvinder Singh claims that his brother Shivinder acquired 6 companies to write off debts of their spiritual guru, who allegedly threatened him.
The founders had taken at least 5 billion rupees of Fortis Healthcare’s cash without board approval. The market regulator, and India’s Serious Fraud Investigation Office, are looking into the company and auditors have refused to certify financial results.
Indians tend to fuss more about the damage done to the Indian psyche by Thomas B Macaulay’s infamous Minute of 1835, but he was preceded in this unholy endeavour by James Mill.
A govt official said that although ATF prices for domestic market had been expected to rise 100 per cent in April, increase was moderated to 25 per cent to cushion burden on domestic passengers.
It’s easy to understand why the government can’t speak the hard truth. When this war ends, as all wars do, India’s interests will lie with both the winner and the loser.
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