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Singh brothers row: Malvinder claims Shivinder physically assaulted him

Fadu News 2018-12-07 11:23:58

The Singh brothers—Malvinder Singh (left) and Shivinder Singh—have run to the ground a generations-old business that was once worth billions. Photo: HT

New Delhi: The split between the Singh brothers widened Friday after Malvinder Singh, the former chairman and managing director of Fortis Healthcare Ltd, alleged that his younger brother Shivinder Singh has assaulted him. Shivinder Singh, on his part, denied the charge and called them “false” and “fabricated”.

“Shivinder Mohan Singh assaulted me, he physically hit me. He hurt me. He injured me. He broke the button. He bruised me...kept threatening me and refused to budge until the team here came together and separated him from me,” said Malvinder Singh in a video, showing his bruises. In the video, Malvinder Singh said that the incident occurred on 5 December a little after 6.00pm at 55, Hanuman Road, in New Delhi.

Mint has seen a copy of the said video.

Malvinder Singh told Mint that Shivinder Singh disrupted the board meeting of group company Prius Real Estate, which he claimed seeks about ₹2,000 crore from the Dhillon family.

“Approximately ₹3,000 crore have become due for payment from Prius to the RHC Group. Then, the Dhillon family owes Prius Real Estate some ₹2,000 crore, which has become due. The meeting was held to recover the money from the Dhillon family which would have flown to RHC and eventually Daiichi Sankyo and other lenders,” Malvinder Singh claimed in the video. He further said that Shivinder Singh got physical and disrupted the meeting despite not being a shareholder or an employee of the group.

Malvinder Singh said that he had to go to Ram Manohar Lohia (RML) Hospital for treating injuries. “There are internal injuries. My hand has been plastered. I didn’t file a complaint because my mother intervened, and I have closed the chapter.”

The feud between the Singh brothers has been brewing ever since they lost control over Fortis Healthcare Ltd and Religare Enterprises Ltd.

In September, Shivinder Singh formally disassociated himself from Malvinder Singh and blamed both Malvinder Singh and Sunil Godhwani, former CMD of Religare Enterprises, for the group’s troubles, which he said has taken “toll” on him and his family. He filed an action under Section 241 of The Companies Act in court for “oppression” and “mismanagement” of RHC Holding, Religare and Fortis against Malvinder Singh and Godhwani saying that their collective actions undermined group’s interests.

“The collective actions of Malvinder and Godhwani led to a systematic undermining of the interests of the companies,” Shivinder Singh had said in a statement then, claiming that the decisions taken at Fortis and Religare were taken without his consent and after he had left the business to Malvinder Singh.

In 2015, Shivinder Singh briefly took a hiatus from the family business. He had left for Radha Soami Satsang Beas, a spiritual organization, in December of that year.

Shivinder Singh is the former vice chairman of Fortis Healthcare Ltd.

According to Shivinder Singh, his elder brother had used his position to extract money from Fortis and Religare while keeping him in the dark. “I have done my best to be a stoic problem solver, but I have no other recourse to clear my reputation and restore my credibility that has been soiled by association with Malvinder and Godhwani,” Shivinder Singh had said in the September statement.

Heirs to a generations-old business house that was worth billions, the Singh brothers have in the last few months seen a dramatic fall in their fortunes—much of it getting seized by lenders. The Singh brothers owe $500 billion to Daiichi Sankyo over fraud allegations related to the 2008 sale of drugmaker Ranbaxy Laboratories. The irregularities in Fortis Healthcare is being probed by the Serious Fraud Investigations Office (SFIO).