Sources say the firm had to act to calm Japanese investors, restive at the flow of bad news.
"Our intention has always been to provide value-for-money services," Shivinder Mohan Singh, MD, Fortis Healthcare.
The prime accused in the murder of a Punjab non resident Indian has been arrested while two other co-accused gave themselves up, police said in Hoshiarpur Thursday.
With Samajwadi Party cosying up to the Congress, its leaders have been invited for the fourth UPA anniversary celebrations scheduled here on May 22. In a clear message that it was warming up to the Congress, SP supremo Mulayam Singh Yadav had recently lashed out at BSP leader Mayawati for being 'ungrateful' to the United Progressive Allaince government by criticising it. He added that Congress 'charity' had only helped her become the Chief Minister of Uttar Pradesh again.
Several BJP leaders in the past have raised a demand for changing the name of the country from "India" to "Bharat".
A Delhi court on Friday convicted 17 Uttarakhand Police personnel, seven of them for murder and others for various offences including criminal conspiracy and kidnapping in a fake encounter case in which an MBA student was shot dead in Uttarakhand in 2009.
Commenting on the closure of the deal, Ranbaxy CEO Malvinder Mohan Singh said, "The deal has been closed successfully. This puts us well on the path to creating a hybrid business model that will unlock the strengths of both companies to bring unprecedented value to all stakeholders." In June, Japanese firm Daiichi Sankyo had entered into an agreement to buy out the promoters' stake of 34.8 per cent and subsequently made open offer for a 20 per cent stake at Rs 737 per share.
The bitter dispute in the Ranbaxy promoter family took an ugly turn on Wednesday with one section approaching the police against the other, alleging 'illegal construction' at the palatial family house in the heart of the city.
Kripashankar Singh, Mumbai Pradesh Congress Chief, has resigned from the post in the wake of party's poor showing in the civic elections last week.
The push for FDI in retail by foreign interests smacks of the East India Company syndrome and Indians have the right to protest any attempt by a class of corporate cronies to rule India by proxy, says A Faizur Rahman.
Religare, promoted by billionaire brothers Malvinder and Shivinder Mohan Singh, was in talks with Piramal for six to eight months to buy nearly 80 per cent in Indiareit for around Rs 300 crore (Rs 3 billion).
A Delhi court on Thursday sent four Uttarakhand policemen, allegedly involved in the July 2009 killing of a 22-year-old MBA student in a staged shootout near Dehradun, to judicial custody till May 9.
Addressing a function to mark 'Janjatiya Gaurav Diwas' in Jashpur district, Bhagwat appealed to tribals to stay strong against those who try to dupe them by taking advantage of their innocence.
Reader Rajnish Mohan sent us this picture from Delhi.
The Delhi police on Tuesday arrested two persons including NewsClick founder Prabir Purkayastha in connection with a probe in the portal's foreign funding, officials said.
Beleaguered Mumbai Congress leader Kripashankar Singh, facing charges of amassing illegal wealth, on Saturday said he had done nothing wrong and will fight "as per law."
A senior official of the district administration said about eight lakh lamps were lit on the 84 ghats located on the western bank of the river.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries:
'I would rather focus on the good rather than what didn't happen.'
Another issue on the party's agenda is the expansion of the ruling NDA, which has seen steady depletion in the recent years with traditional BJP allies like the Janata Dal-United and Akali Dal leaving the grouping.
A day after she was stopped from flying abroad, the Enforcement Directorate (ED) summoned actor Jacqueline Fernandez to appear before it for questioning in a money laundering investigation against alleged conman Sukesh Chandrashekhar and others, officials said on Monday.
Malvinder "forged the signatures" of Aditi Singh, Shivinder's wife, in the documents of RHC Holdings Pvt Ltd, which along with Oscar Investments Ltd jointly owned financial services firm Religare Enterprises Ltd and hospital chain Fortis Healthcare Ltd, it said.
Angered by the charges that it was behind the 'cash for votes' scam, Samajwadi Party on Wednesday said it will be moving a breach of privilege against the three Bharatiya Janata Party MPs who made the charge. SP leader Mohan Singh told reporters that he has informed Speaker Somnath Chatterjee that his party would be giving a privilege notice against the BJP MPs for tarnishing the image of Parliament.
Fortis Healthcare Chairman Malvinder Mohan Singh on Wednesday said it planned to launch an IPO for its diagnostics business unit, Super Religare Laboratories (SRL), in 2011. SRL had acquired the diagnostics business of Piramal Healthcare for Rs 600 crore in the first quarter of this financial year.
The public prosecutor said the court found seven of the 38 accused guilty under Section 302 of the IPC.
The charge sheet also claimed Fernandez consciously chose to overlook Chandrashekhar's criminal past and continued to indulge in financial transactions with him and both were working in collusion.
Since Malvinder Mohan Singh announced last week that he would sell leading Indian generic drug maker Ranbaxy to Daiichi Sankyo of Japan, incredulous friends have deluged him with messages.
These include former drugs controller M Venkateshwarlu, Ranbaxy CMD Malvinder Mohan Singh, Ranjit Shahani, India chief of Swiss pharma major Novartis AG, Ramaprasad Reddy, chairman Aurobindo Pharma and Rajesh Jain, joint managing director, Panacea Biotec.
Malvinder Singh, President (Pharmaceuticals) and Executive Director, Ranbaxy, says the company aims to touch $5 billion in revenues by 2012, with growth coming from American and European markets.
At many places, where the voters had entered booths before 6 pm and were standing in queues, they were allowed to cast their votes.
Ranbaxy earned $114 million from its US operations in 2006. It launched 10 new products during the year. The company said that the revenues from the sale of the newly acquired brands would be reflected from the next quarter.
Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday joined senior Rashtriya Swayamsevak Sangh leaders for lunch at the home of Deputy Chief Minister Keshav Prasad Maurya, as the ruling party geared up for the assembly polls just months away.
The changing of names was part of the delimitation exercise, under which the number of wards went up to 80 in Gorakhpur, with several of these named after iconic personalities and freedom fighters.
Hazare, 81, had started his indefinite fast on January 30 over appointment of anti-corruption watchdogs.
His visit comes close on the heels of the party holding a series of review meetings in Lucknow, which had fuelled speculation of a ministerial reshuffle in the state.
The silver lining for India's presidency is likely to be the support by almost all G20 countries to its proposal to include the African Union as a permanent member of the bloc that has emerged as perhaps the most influential multilateral forum after the United Nations.
He has already spearheaded eight significant acquisitions within and outside the country
Pharmaceuticals major Ranbaxy Laboratories plans to leverage the cost advantage of Chinese raw materials by making China its major active pharmaceutical ingredient sourcing hub.
Promoter of Ranbaxy Laboratories, Malvinder Mohan Singh, not only sold a strategic stake in his company to Japanese pharma major Daiichi Sankyoand, he even managed to get a good increment for himself. According to the company's extraordinary general meeting notice, Singh will now earn a salary and allowances of Rs 25 crore per annum as against Rs 19.58 crore earlier.
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