Former promoters of Ranbaxy, on Thursday, rebutted the current Japanese owner’s allegations of hiding information on U.S. probe into drug adulteration, saying they did not misrepresent any facts or falsify any data.
Malvinder Mohan Singh, the former promoter of Ranbaxy, said he was shocked at allegations made by Daiichi Sankyo and asserted the Indian promoters never concealed any fact at the time of selling 34.82 per cent stake to the Japanese firm for about Rs.10,000 crore.
“We strongly deny that the Singh family falsified any data. There was no concealment of facts,” Mr. Singh, who is also the Executive Chairman of Fortis Healthcare, told PTI here.
Daiichi had yesterday threatened to sue Singhs for allegedly concealing and misrepresenting critical information about U.S. investigation into sale of adulterated drugs. — PTI