- They founded Fortis Healthcare in late 1990s
- Malvinder Mohan Singh and Shivinder Mohan Singh also founded Ranbaxy
- Delhi High Court has asked them to pay Rs. 3,500 cr to a Japanese firm
"...we believe this is in the interest of propriety and good governance. It is intended to free the organization from any encumbrances whatsoever that may be linked to the Promoters," the brothers wrote in their joint resignation letter to the board of directors.
Their resignation from the Fortis board happens days after the Delhi High Court upheld an international arbitration case award of Rs 3,500 crore to Japanese company Daiichi Sankyo against them.The brothers said they are resigning to ensure the company is insulated from this ongoing legal fight.
(With inputs from IANS)