MUMBAI: Tycoon brothers Shivinder and Malvinder Singh appeared in court on Friday accused of siphoning off hundreds of millions of dollars in the latest episode of a crumbling business dynasty.
The former owners of the Ranbaxy generic drugs giant, who are said to have lost a fortune worth billions over the past decade, are in court over $337 million diverted from the Religare financial group which they built up.
The brothers, also wrangling with each other over the lost money, were detained separately late Thursday and charged along with three other top executives from the group. The court gave police four days to question the brothers, who have launched a counter action calling for the investigation to be declared invalid.
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