The former promoters of Ranbaxy Laboratories Ltd —Malvinder Mohan Singh and Shivinder Mohan Singh—have been asked by an arbitration court in Singapore to pay damages to the tune of Rs.2,562.78 crore, for concealing facts from Japan’s Daiichi Sankyo Co. Ltd when they sold their 34.82% stake in Ranbaxy to the latter for $2.4 billion in 2008.
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