Shivinder said the gulf between our value systems is clearly too wide and the latest incident closes all options for any possible solution to work together.
Shivinder Singh, who was accused by elder brother Malvinder Singh of physical assault, on December 7 called the allegations a "false and shameless attempt to malign his integrity."
Shivinder claimed Malvinder and his relative who were on the board of their investment company, have been intimidating another director at the EGM and tried to even coerce some employees to video record statements under duress.
Shivinder said he had to intervene, being concerned about the well being of employees, which led to the scuffle.
“On 5th December 2018, I visited our office for a scheduled EGM. On arriving, I was concerned to find out that one of the directors had left the ongoing board meeting due to unnecessary intimidating tactics being adopted by the (only) other board member, Malvinder’s relative,” Shivinder said.
“Following the incident, it appeared that Malvinder was trying to coerce some employees to video record statements under duress. Concerned for the well-being of the employees I entered the room to understand what was going on. Angered seeing me there, Malvinder attempted to forcibly restrain me and pinned me to the wall choking me. I tried to push him away in self-defence,” Shivinder said.
Shivinder said he made a police complaint, but on the intervention of the family and hoping to keep issues private, agreed to withdraw the complaint.
“If I was the aggressor, I wonder why he did not make a police complaint instead of public gimmickry and that too one day later, displaying a fake cast for an injury he never had,” Shivinder said.
Shivinder said the "gulf between our value systems is clearly too wide and the latest incident closes all options for any possible solution to work together."
The feud between Singh brothers turned ugly with Malvinder alleging a physical assault on him by his younger brother Shivinder Singh on December 6.
“Today is December 5, 2018. A little after 6 pm Shivinder Mohan Singh assaulted me at 55, Hanuman road. He physically hit me. He hurt me. He injured me here. He broke this button and he gave me bruise here. He kept threatening me. And, he refused to budge until the team here came and separated him from me,” said Malvinder Singh in a WhatsApp video circulated on social media. Singh was displaying a bruise on his right forehand.
It's still unclear if Malvinder filed a police complaint. Malvinder's spokesperson couldn't be reached for a comment.
The feud was said to have taken place at the registered office of Oscar Investments, one of the investment firms jointly owned by brothers.
The feud between the brothers surfaced in September, when Shivinder filed a case against Malvinder and former top executive Sunil Godhwani in the NCLT, alleging 'oppression and mismanagement' of RHC Holding, Religare Enterprises and Fortis Healthcare.
Shivinder went on to make serious allegations against his brother including misappropriation of funds, forgery and pushing the group into a debt trap.
However, within days Shivinder withdrew his petition from the NCLT citing respect for their mother.
Shivinder said he intends to use the “mediation process” to resolve differences amicably but his decision to disassociate from his brother stands.
Shivinder further added in case the mediation falls through, he intended to reassess and start a fresh action against his brother.
The brothers have lost management control over Fortis and Religare.
The video surfaced ahead of a crucial hearing in the Delhi High Court, where the Japanese drug major Daiichi Sankyo is trying to enforce a Rs 3,500 crore arbitration award it got from a tribunal in Singapore.Daiichi charged Singh brothers of concealing the extent of regulatory problems at Ranbaxy. Daiichi bought Ranbaxy in 2008, which it later sold to Sun Pharma in 2015.