Ex-Ranbaxy Promoters' Settlement Talks Inconclusive, No Proposal Given

The Singh brothers on Friday sought interim bail from the court saying they wanted to settle the case with the complainant.

Ex-Ranbaxy Promoters' Settlement Talks Inconclusive, No Proposal Given

The court then posted for October 25 hearing arguments on bail plea by Singh brothers.

New Delhi:

The settlement talks between former Fortis Healthcare promoters Malvinder Singh and his brother Shivinder and scam-hit Religare Finvest Ltd remained inconclusive as no proposal was given, a Delhi court was informed Wednesday.

Chief Metropolitan Magistrate Deepak Sherawat was told by RFL's counsel that no proposal was given by Singh brothers and therefore settlement talks remained inconclusive.

The counsel for jailed Singh brothers, arrested for allegedly misappropriating funds of RFL, told the court that it was not possible to come up with a proposal as the accused need to sit together and discuss the issue.

The court then posted for October 25 hearing arguments on bail plea by Singh brothers.

The Singh brothers on Friday sought interim bail from the court saying they wanted to settle the case with the complainant.

The court had on Thursday sent Singh brothers and other accused -- Sunil Godhwani, Kavi Arora and Anil Saxena -- to judicial custody till October 31. 

More News