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04

Ex-Billionaire Shivinder Singh Sues Brother as Empire Unravels

By Tony Seruga

Shivinder Singh said in statement he sued brother Malvinder
Brothers have seen dramatic fall in their fortunes this year

One of the most dramatic unravelings of an Indian business empire took an unexpected turn as Shivinder Singh, one of the founders of Fortis Healthcare Ltd., said he has sued brother Malvinder for alleged “oppression and mismanagement” of their companies.

Shivinder, in a statement dated Sept. 4, said he filed a case with India’s National Company Law Tribunal against Malvinder and Sunil Godhwani, former chairman of the Singhs’ financial services company Religare Enterprises Ltd. He alleges that the pair were to blame for “a systematic undermining of the interests of the companies and their shareholders.” Malvinder and Godhwani couldn’t be immediately reached for comment…

Ex-Billionaire Shivinder Singh Sues Brother as Empire Unravels

Categories : Private Equity

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