Shivinder Mohan Singh’s Bankruptcy Plea: A Billionaire’s Fall from Grace

Former Fortis Healthcare promoter Shivinder Mohan Singh has filed for personal insolvency before the National Company Law Tribunal (NCLT), citing liabilities that far exceed his assets. His plea, submitted under Section 94 of the Insolvency and Bankruptcy Code (IBC), comes amid ongoing litigation and financial mismanagement within RHC Holding Pvt. Ltd., where he was a corporate guarantor.

Singh’s financial troubles stem from a ₹3,500 crore arbitration award won by Japanese drugmaker Daiichi Sankyo in a Singapore tribunal against him and his brother Malvinder Singh. The brothers had sold their stake in Ranbaxy to Daiichi in 2008, but the deal later became embroiled in controversy, with allegations of fraudulent misrepresentation and concealment of regulatory investigations. Indian courts upheld the arbitration ruling, leading to asset seizures and forced sales.

Once a prominent figure in India’s healthcare industry, Singh’s downfall highlights the risks of corporate mismanagement and legal entanglements. His insolvency plea, now awaiting further hearings, could mark the final chapter in a saga of financial decline and legal battles.