One reform that Malvinder couldn't do was that of the company's board of directors. For long, doctors and scientists have been inadequately represented on the Ranbaxy board. The new owner will have to address this problem.
Ranbaxy chief Malvinder Singh and Max Healthcare chairman Analjit Singh on Monday said they have reached a settlement on the will of Ranbaxy founder Bhai Mohan Singh and decided to withdraw all cases against each other.
Over-expansion, bad management, and multiple allegations irreparably taint Malvinder and Shivinder Singh
'Nothing in this world is permanent. So also in business.' 'And more so in family businesses where family issues often influence business decisions,' point out S Subramanian and Nupur Pavan Bang.
Malvinder, who has made his family richer by Rs 10,000 crore (Rs 100 billion), was brought up in relative austerity. While his cousins zipped around the town in fancy cars, he would travel to college in Delhi Transport Corporation (DTC) buses.
Ranbaxy did its maiden public issue in 1973.
The babas' vote banks and the politicians' greed for en bloc votes, is the curse of Punjab and Haryana.
