The differences between the two brothers have been widening since they lost control over family firms Religare Enterprises and Fortis Healthcare.
The differences between Singh brothers, former promoters of healthcare major Fortis Healthcare Limited, reached a new level after elder brother Malvinder Singh alleged that his younger brother Shivinder Singh assaulted him, according to several media reports. The incident happened at their Hanuman Road office, New Delhi, on Thursday evening.
“Today is December 5, 2018. A little after 6 pm. 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 half a minute video, while showing his bruises.
Shivinder Singh, however, refuted the allegation, calling it ‘fake’ and a ‘lie’.
Malvinder Mohan Singh and Shinvder Mohan Singh have been not on talking terms for months now. The differences between the two brothers have been widening since they lost control over family firms Religare Enterprises and Fortis Healthcare.
They, however, come to office and staff has been reporting to both of them as they hold an equal stakeholding in the group holding firm RHC Holding. Oscar Investments, which is at Hanuman road in New Delhi, is one of the investment firms jointly owned by brothers.
In September this year, Shivinder Singh formally parted ways from his elder brother Malvinder Singh. He also blamed Malvinder Singh and Sunil Godhwani, former CMD of Religare Enterprises, for the group’s troubles, while accusing the elder brother of using his position to extract money from Religare and Fortis.
The two brothers now owe $500 billion to Japan’s Daiichi Sankyo over fraud allegations in relation to the 2008 sale of drugmaker Ranbaxy Labs. The Serious Fraud Investigations Office (SFIO) is probing the irregularities in Fortis Healthcare.