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Ex-Ranbaxy promoters fined $400mn for hiding info from Daiichi

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Ex-Ranbaxy promoters fined $400mn for hiding info from Daiichi

Malvinder and Shivinder Singh had sold their stake in Ranbaxy Laboratories to Daiichi way back in 2008, following which Daiichi-led Ranbaxy was forced to pay the US Department of Justice a sum of USD 500 million over non-compliance with US Food and Drug Administration’s testing norms.