, ET Bureau|
Feb 26, 2018, 02.35 PM IST
The Delhi High Court has decided to attach all unencumbered assets disclosed by two companies controlled by Malvinder and Shivinder Singh so that Japanese drug maker Daiichi Sankyo can recover a Rs3,500-crore international arbitration award from them.
The court's latest order asks that a warrant be issued to attach the unpledged assets of RHC Holding Pvt Ltd and Oscar Investments Ltd. It also said that the companies cannot use some bank accounts they had disclosed as part of their assets, except for paying salaries and making statutory payments.
The court has also passed a 'Garnishee Order' so that any debts owed to the two companies could be directed towards paying the award.
Other individual respondents in this case, including the Singhs, also have to furnish an up-to-date list of their assets that are not pledged by the next hearing on March 23.
The court's status quo order preventing the brothers and 12 other respondents from dealing with assets disclosed during earlier proceedings continues until this date as well.
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