New Delhi: The Supreme Court on Friday stated that it will send Malvinder Mohan Singh and his brother Shivinder Mohan Singh, ex-Ranbaxy promoters, to jail, for not complying with an order to pay dues to the Japanese firm Daiichi Sankyo.

The court said that it will look into the issue as to why the orders were violated while hearing a petition filed by Daiichi Sankyo which seeks to recover Rs 3,500 crore awarded to it in an arbitration by a Singapore tribunal against the Ranbaxy brothers.

A bench headed by Chief Justice Ranjan Gogoi told the defence counsel, "You may be owning half of the world but there is no concrete plan as to how the arbitral amount would be realized. You said that somebody owed you Rs 6,000 crore. But this is neither here nor there.”

The next date of hearing has been fixed as April 11.

One of the Ranbaxy counsels mentioned that they have assets and their values have been submitted to the court. They also have immovables with two operating businesses and an IT company.

Shivinder Singh said that the total value of their assets after liquidation amounts to around Rs 900 crore and if granted an opportunity by the court, he could grow these assets up to Rs 2,000 crore.

He pleaded that the groups situation had changed over last few years and sought more time to comply with the foreign arbitration.

Daiichi had bought Ranbaxy in 2008 and later moved the Singapore arbitration tribunal and alleged that they had been misled by the brothers who concealed information that Ranbaxy was facing a probe by the US Food and Drug Administration and the Department of Justice. (IANS)