Malvinder & Shivinder Singh

About Malvinder & Shivinder Singh

Birth Place: Delhi, India, India

Malvinder & Shivinder Singh Net Worth

Malvinder & Shivinder Singh was born in Delhi, India, India. Brothers Malvinder & Shivinder Singh faced a setback when a Singapore arbitration court imposed a $390 million fine on them for allegedly suppressing and misrepresenting facts when they sold their pharma firm, Ranbaxy Laboratories, to Japan's Daiichi Sankyo 8 years ago. The Singhs denied any wrongdoing and are contesting the ruling in both Singapore and India. Their hospital chain, Fortis Healthcare, which Malvinder runs as executive chairman, is demerging its diagnostics business. The brothers rejoined the board of financial firm Religare Enterprises in a nonexecutive capacity in July after a 6-year gap. Shivinder had retired from business last year to work for a spiritual organization.
Malvinder & Shivinder Singh is a member of Health care

💰 Net worth: $1.01 Billion (Updated at 22 June 2018)

2009 $2.6 Billion
2010 $3.2 Billion
2011 $4.1 Billion
2012 $3.5 Billion
2013 $2.6 Billion
2014 $2.1 Billion
2015 $2.3 Billion
2018 $1.1 Billion

Some Malvinder & Shivinder Singh images

Biography/Timeline

1999

Malvinder Mohan Singh is one of the son of Dr. Parvinder Singh and the grandson of Bhai Mohan Singh, the founder of Ranbaxy. He and his brother Shivinder Singh, who in 1999 upon the death of their Father inherited their family's 33.5% stake in Ranbaxy, are among the twenty richest Indians.

2008

Malvinder Singh's tenure as CEO of Ranbaxy starting in 2006 is controversial. Corporate culture of fraud continued unchecked under his tenure. In November 2006, Malvinder Singh led a delegation to FDA headquarters to try to reverse the decision to accept new drug applications from Ranbaxy. This attempt failed as FDA asked Ranbaxy to turn over audits done by its outside consultant, Parexel, which the company was claiming were confidential. The meeting ended in a standoff. Soon thereafter Mr. Singh decided to cash in. On 11 June 2008, Singh stunned the Indian Business world by announcing that he and his brother were selling their 34% stake in Ranbaxy to the Japanese drugmaker Daiichi Sankyo for $2 billion.