Malvinder Singh and Shivinder Singh were once India’s richest billionaires, they rose to international prominence in 2008 after agreeing to sell Ranbaxy, their family’s drug company, to Japan’s Daiichi Sankyo for $4.7bn. It was the biggest foreign takeover of an Indian company at the time.
The brothers shot back to the public consciousness last month when stories appeared highlighting how links to Radha Soami Satsang Beas had seen them lose £$2billon worth of assets.
Well last week, Shivinder Singh stunned the Indian business world when he filed a case accusing his brother and former business partner Sunil Godhwani of “oppression and mismanagement”.
The case has now being dropped and it seems that Radha Soami Satsang Beas has asked the feuding brothers to come and mediate with him to help them settle their differences.
Shivinder Singh told the Financial Times on Friday that he was dropping his case to undergo mediation, led by family elders. A petition to withdraw the lawsuit, widely reported by Indian media, said: “Out of respect for their mother, the parties have already started mediation.”