ED raids residences of former Ranbaxy CEO Malvinder Singh and Shivinder Singh

Enforcement Directorate (ED) is reportedly conducting raids at properties of former Ranbaxy CEO Malvinder Singh and his brother Shivinder Singh. The raids were in connection to a money-laundering case.

Singh brothers have had their fair share of controversies, from the infamous Daiichi Sankyo case where they were ordered to pay Rs 4,000 crores arbitration award to Vimta Labs scandal.

Singh brothers sold their stake in Ranbaxy to Daiichi Sankyo in 2008 and since then started other ventures that crossed billion-dollar valuations, namely Fortis Hospitals and Religare Enterprises. But these other ventures were also hit with controversies and the brothers soon turned against each other, to the point of physical altercations.

Malvinder had alleged during last December in an online video that Shivinder had hit him and also showed his injuries. A few months earlier, Shivinder alleged that Malvinder forged the signature of his wife Aditi in some documents. The brothers made up after intervention of their mother but controversies never stopped following them.