Business Law Presentation Ranbaxy Family Dispute
Efforts by- <ul><li>Maitri Khanna </li></ul><ul><li>Manmeet Singh </li></ul><ul><li>Pankaj Bansal </li></ul><ul><li>Vinit ...
What Is Contract? <ul><li>According to Section 2(h) of the Indian Contract Act, 1872, “A contract is an agreement enforcea...
Elements Of a Contract Offer & Acceptance Legal  Relationship Lawful Consideration Competency Consent
Elements (cont.) Legality Of  Objects Certainty Of Objects Possibility Of Performance Legal  Formalities
Expressed & Implied Contract <ul><li>An expressed contract is one which is written and every term and condition of the con...
Company Profile (Ranbaxy) <ul><li>Bhai Mohan Singh takeover Ranbaxy from Mr. Ranjit Singh and Dr. Gurbux Singh of Amritsar...
Board Of Directors- <ul><li>Mr. Tejendra Khanna </li></ul><ul><li>Dr. Brian W. Tempest </li></ul><ul><li>Mr. Malvinder Moh...
Current Position Holdings <ul><li>Mr. Analjit Singh- CEO Max Hospitals Ltd. </li></ul><ul><li>Mr.Malvinder Mohan Singh-CEO...
Facts Of The Case <ul><li>1952 - Bhai Mohan Singh takes over Ranbaxy. </li></ul><ul><li>1973 - Ranbaxy lists on Bourses </...
Facts <ul><li>1993-  Bhai Mohan Singh forced to leave Ranbaxy as he and Parvinder Singh failed to agree on the way forward...
14 crores were given to Manjit on a specific assurance that he would repay the amount after making profits from his sales....
Facts <ul><li>May 22,2006-  Analjit files a probate application to seek courts endorsment regarding authenticity of the wi...
Facts <ul><li>June 02,2006-  Process of arriving at an out-of-court settlement begun. </li></ul><ul><ul><li>Analjit and Ma...
Facts <ul><li>July 20,2006-  Analjit slaps four cases including a defamation petition against Nimmi Singh. </li></ul><ul><...
The Settlement <ul><li>Out-of-court settlement. </li></ul><ul><li>Analjit grants the Bunglow No.1 SouthEnd Lane to Nimmi S...
Student Analysis <ul><li>According to us it is a case of Offer & Acceptance. </li></ul><ul><ul><li>Initially Malvinder ad ...
<ul><li>The case may also be seen as a case of undue influence. </li></ul><ul><ul><li>Bhai Mohan Singh had bad relations w...
<ul><li>In another context the case may be looked upon as a case of Coercion. </li></ul><ul><ul><li>According to Nimmi Sin...
Thank You Faculty- Ms. Monica Suri
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Ranbaxy

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Ranbaxy

  1. 1. Business Law Presentation Ranbaxy Family Dispute
  2. 2. Efforts by- <ul><li>Maitri Khanna </li></ul><ul><li>Manmeet Singh </li></ul><ul><li>Pankaj Bansal </li></ul><ul><li>Vinit Gupta </li></ul><ul><li>Manali Rajwani </li></ul><ul><li>Janmai Jai Dhyani </li></ul><ul><li>Robin Mittal </li></ul>
  3. 3. What Is Contract? <ul><li>According to Section 2(h) of the Indian Contract Act, 1872, “A contract is an agreement enforceable by law, made between atleast two parties by which rights are aquired by one and obligations are created on the part of another.If the party , which had agreed to do something, fails to do that, then the other party has a remedy.” </li></ul>
  4. 4. Elements Of a Contract Offer & Acceptance Legal Relationship Lawful Consideration Competency Consent
  5. 5. Elements (cont.) Legality Of Objects Certainty Of Objects Possibility Of Performance Legal Formalities
  6. 6. Expressed & Implied Contract <ul><li>An expressed contract is one which is written and every term and condition of the contract is specified in the contract deed. </li></ul><ul><li>Implied contract is one which is implied by the conduct of the parties involved and may or may not be written. </li></ul>
  7. 7. Company Profile (Ranbaxy) <ul><li>Bhai Mohan Singh takeover Ranbaxy from Mr. Ranjit Singh and Dr. Gurbux Singh of Amritsar who were distributors of a Japanese pharmaceuticals company. </li></ul><ul><li>Ranbaxy Labs went public in 1973. </li></ul><ul><li>Ranbaxy ltd., India’s largest pharmaceuticals company </li></ul><ul><li>Produces a wide range of affordable generic medicines. </li></ul><ul><li>The company’s largest market is USA followed by Europe and BRIC (Brazil, Russia, India & China) </li></ul>
  8. 8. Board Of Directors- <ul><li>Mr. Tejendra Khanna </li></ul><ul><li>Dr. Brian W. Tempest </li></ul><ul><li>Mr. Malvinder Mohan Singh </li></ul><ul><li>Mr. Ramesh L. Adique </li></ul><ul><li>Mr. Vinay K. Kaul </li></ul><ul><li>Mr. Harpal Singh </li></ul><ul><li>Mr. P.S. Joshi </li></ul><ul><li>Mr. Surendra Daulat Singh </li></ul><ul><li>Mr. Vivek Bharat Ram </li></ul><ul><li>Mr.Shivinder Mohan Singh </li></ul>
  9. 9. Current Position Holdings <ul><li>Mr. Analjit Singh- CEO Max Hospitals Ltd. </li></ul><ul><li>Mr.Malvinder Mohan Singh-CEO Ranbaxy Laboratories. </li></ul><ul><li>Mr. Shivinder Mohan Singh- CEO Fortis Healthcare. </li></ul>
  10. 10. Facts Of The Case <ul><li>1952 - Bhai Mohan Singh takes over Ranbaxy. </li></ul><ul><li>1973 - Ranbaxy lists on Bourses </li></ul><ul><li>1985 - Bhai Mohan Singh turns over a license to make 6APA, a vital drug, to youngest son Analjit Singh’s Max Pharma. Max makes more money than Ranbaxy. Bhai Mohan Singh rejects Parvinder’s demand to make the same ingredient. It sparks a rift between father and eldest son. </li></ul><ul><li>1990 - Family settlement splits the Ranbaxy group 3 ways. Bhai Mohan expected to stay on as Chairman of Ranbaxy till his death. </li></ul>
  11. 11. Facts <ul><li>1993- Bhai Mohan Singh forced to leave Ranbaxy as he and Parvinder Singh failed to agree on the way forward. He also filed a petition against Parvinder. </li></ul><ul><ul><li>Later on his relations with Manjit , his middle son, also became bad. </li></ul></ul><ul><li>Aug 25,2005- Bhai Mohan Singh executed his last will in presence of Prem Sobti and Vipin Malik. </li></ul><ul><li>March 28,2006- Bhai Mohan Singh dies. </li></ul>
  12. 12. 14 crores were given to Manjit on a specific assurance that he would repay the amount after making profits from his sales. The money was never returned. Bhai Mohan singh was upset because of his son’s work and bad reputation that he brought.
  13. 13. Facts <ul><li>May 22,2006- Analjit files a probate application to seek courts endorsment regarding authenticity of the will through Delhi based law firm KR Chawla & Co. </li></ul><ul><li>May 24,2006- Malvinder and Shivinder duo and Manjit Singh issue separate notices to the biggest beneficiary of the will-Analjit Singh. </li></ul><ul><ul><li>Manjit challenged as Bhai Mohan Singh did not bequeath anything to him. Malvinder and Shivinder contested it because of the disputed Trust Shares . </li></ul></ul>
  14. 14. Facts <ul><li>June 02,2006- Process of arriving at an out-of-court settlement begun. </li></ul><ul><ul><li>Analjit and Malvinder-Shivinder had rounds of discussions to amicably resolve the issue of disputed Ranbaxy shares. </li></ul></ul><ul><ul><li>No attempt of settlement with Manjit Singh. </li></ul></ul><ul><ul><li>July 04,2006- Nimmi Singh filed a police case against Analjit alleging that his men intruded into the other side of the joint property on Aurangzeb Road. </li></ul></ul>
  15. 15. Facts <ul><li>July 20,2006- Analjit slaps four cases including a defamation petition against Nimmi Singh. </li></ul><ul><li>July 31,2006- Analjit reaches a settlement with Parvinder’s wife Nimmi and sons, Malvider ad Shivinder. </li></ul><ul><ul><li>All disputes and claims will be resolved. All 33 cases and suits in various courts to be withdrawn. </li></ul></ul><ul><ul><li>Manjit Singh is not party to the ageement. </li></ul></ul>
  16. 16. The Settlement <ul><li>Out-of-court settlement. </li></ul><ul><li>Analjit grants the Bunglow No.1 SouthEnd Lane to Nimmi Singh. </li></ul><ul><li>Bhai Mohan Singh’s shares in Ranbaxy get transferred to sons of late Dr. Parvinder Singh. The transfer to Parvinder was held up since early 90’s due to peding litigation. </li></ul><ul><li>Analjit sole legal heir to rest all properties. </li></ul>
  17. 17. Student Analysis <ul><li>According to us it is a case of Offer & Acceptance. </li></ul><ul><ul><li>Initially Malvinder ad Shivinder did not accept their grandfather’s will but after discussions when Analjit offered them their shares in property, they who contested the will, accepted it. </li></ul></ul>
  18. 18. <ul><li>The case may also be seen as a case of undue influence. </li></ul><ul><ul><li>Bhai Mohan Singh had bad relations with Parvinder since early 90’s. In his last stages he was in pain because of his relations with Parvinder’s family. His relations with Manjit also worsened. The only support he had was through Analjit (emotional support) and he made Analjit the biggest beneficiary. </li></ul></ul>
  19. 19. <ul><li>In another context the case may be looked upon as a case of Coercion. </li></ul><ul><ul><li>According to Nimmi Singh, Analjit sent his men who intruded other side of the home at Aurangzeb Road who threatened and abused Nimmi Singh. Hence, Coercion. </li></ul></ul>
  20. 20. Thank You Faculty- Ms. Monica Suri

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