The number of brothers rescuing their brothers in business has been on the rise in the last few months. Especially in India this number is increasing day by day.
The best example of this is the Ambani brothers. Mukesh Ambani blocked his brother’s imprisonment by giving him a loan of Rs 550 crore owed by his brother Anil Ambani.
Similarly lakshmi mittal, the iron man of the world, paid Rs 2,200 crore in lieu of her brother Promot and rescued her brother from all legal issues.
Affection
On the one hand, like Vishu’s movie, the unity between brother and sister is growing. But in the same India the two brothers who were now big businessmen are both beating each other up. That is why even in the courts they are divided and fighting.
Did not say the case
The owners of this reputation are the founders of ranbaxy, Shivender Singh and Malwinder Singh. In 2008, Ranbaxy sold its stake to Daiichi Sankyo, a Japanese company. Not to mention the fact that there is a lawsuit pending in the American Food and Drug Administration against Ranbaxy when it sells like that.
Give 4000 crore
So the Japanese company has filed a lawsuit alleging that Ranbaxy sold the shares without disclosing the details of the case to deceive themselves. The case was heard by the Singapore Arbitration Tribunal. Thereafter, the Supreme Court of India is currently hearing the case and ordered the Japanese company to pay Rs 4,000 crore in damages by March 14, 2019.
Letter of reply
Last Friday, April 05, 2019, the Supreme Court had condemned both the brothers. The Supreme Court has warned that response letters from Ranbaxy are unsatisfactory and that further Ranbaxy founders will be sent to jail if they disobey the Supreme Court or violate Supreme Court guidelines.
Ranbaxy fined $ 40 million in US Drug sales abuse …
Mumbai: Ranbaxy, a pioneer in pharmaceutical production in India, has agreed to pay $ 39.75 million in damages in a lawsuit against the US government over its alleged involvement in the Texas Medicaid program, which provides medical care to the poor.
Case
The U.S. government has filed a lawsuit against Texas for allegedly misappropriating drugs for the Medicaid program. The US government has nailed Ranbaxy, which thought it could deceive the Siddhas in the US as it does in India.
Payment
Ranbaxy has agreed to pay the money in installments by August 2015.
Abuse
The court also ruled that the company had to pay for the drugs or medicines provided by Medicaid in case of abuse. The company also said the ruling in the case would not affect the company’s business in the United States in any way.
Sun Pharma
The company is currently wholly owned by Sun Pharma. With this, the company owns 60 per cent of the pharmaceutical products exported from India to the rest of the world.
Drug safety
Also last year, the US government fined Ronboxy $ 500 million in civil and criminal charges under the Protection Act for its poor drug quality in the United States. Drug exports were also banned for a few months.
All items imported into the United States, such as clothing, food, and technology, are of high quality, while Ranbaxy’s drugs are banned. But to date there has been no ban or opposition to the company in India. Will there be any more Sidhu work of this company .. The life of an Indian is going away, money is important to us … People need to think ..
Shares
Shares of Ranbaxy fell about 1.52 percent in response to the lawsuit.
