Malvinder & Shivinder Singh was born in Delhi, India, India. Malvinder & Shivinder Singh is #1893 in List Billionaires People In The World. 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.
He is a former chairman and CEO of Ranbaxy Laboratories, an Indian pharmaceutical company that he sold to Japanese drugmaker Daiichi Sankyo, who resigned in 2009 after Ranbaxy posted losses and after Daiichi Sankyo decided to get more actively involved in the newly acquired Indian unit
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
In November 2006, Malvinder Singh led a delegation to FDA headquarters to try to reverse the decision to accept new drug applications from Ranbaxy
He and his brother Shivinder Singh, who in 1999 upon the death of their father inherited their family's 33