Coming down strongly on Malvinder Singh and Shivinder Singh in the ongoing case between Fortis Group and Japan’s Daiichi Sankyo, the Delhi High Court instructed the brothers to give details of all their bank accounts and transactions since April 2016. It also asked them not to carry out any transactions, including sale of properties.

Pharma major Daiichi Sankyo has filed an interlocutory application in the High Court to recover money to the tune of ₹3,500 crore with interest, and has asked for a stay on the ongoing Fortis Healthcare Ltd's deal with Malaysian-based IHH group, which will infuse ₹4,000 crore in the former.

During their first appearance before the Court, Shivinder and his elder brother Malvinder maintained a sombre expression throughout the hearing. The two were questioned for about 45 minutes by Justice Rajiv Shakdher. The questions ranged from the bank accounts they held (in India and abroad), the assets sold by them after April 2016, and properties currently in their possession.

Shivinder said he had one bank account in Singapore and four accounts in India, but had no idea about the credit balance in the accounts. He said, “I do not have properties in India or abroad. We had a joint property at Rajesh Pilot Marg, New Delhi, which we sold at ₹185 crore, which was charged to Indiabulls. Money from the sale went straight to the bank.”

Malvinder said he owns an apartment in Singapore, which had been bought on a 40-year loan from DBS Bank, on which he was until lately paying EMIs. Now that he has no money to pay the EMIs, he was looking to sell the apartment, he added. Justice Shakdher restrained him from selling the apartment without the Court's permission. The Court also said it has to be informed if a purchaser is found.

Malvinder also revealed that he had gifted sculpture and paintings worth ₹7.59 crore to his daughter; to that, the Court asked if the gift had been registered and if there were any documents to prove this.