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Malvinder & #ShivinderSingh inherited a large fortune of $2 billion in the form of #Ranbaxy which they promptly sold to #DaiichiSankyo the Japanese pharma giant. Not only did they give away all of it to family and associates of Gurinder Singh Dhillon aka Babaji, head of the #RadhaSoami Satsang Beas, they borrowed another billion dollars, giving away a total of Rs. 22,500 crore to them, leaving themselves close to broke. Watch Bisbo's informative video on the saga and make sure to stay till the end limerick.
Sources:
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Timeline: How two feuding Indian brothers squandered their pharma empire
By Ananya Bhattacharya QuartzIndia, February 19, 2019
Timeline: Jhini Sinha Phira, Money control Bureau
The Billionaires and The Guru: How a Family Burned Through $2 Billion by Ari Altstedter, Bloomberg August 16, 2018
Religare's Singh brothers accused by New York investor of siphoning money, Ari Altstedter, Bloomberg, January 29, 2018
Religare to sell Finvest stake to Chatterjee Group; July 12, 2019
Ranbaxy to ruins: How the Singh brothers turned from business whizkids to fraud accused, ET Online, December 20, 2018
The Baba, Singh Brothers and the Squandered Rs 225,00,00,00,000, Rajeev Dubey & Joe C Mathew, Business Today, September 9, 2018
Malvinder: For spiritual seat, Shivinder allowed Dhillon to siphon off ₹8,646 crore
Palak Shah, Hindu Business Line, February 17, 2019
'Gurinder Singh Dhillon used funds from Ranbaxy stake sale to buy real estate' Teena Thacker, Live Mint, March 6, 2019
hinessight.blog.com
After Daiichi plea, SC stays religare finvest-initiated insolvency at 23 companies, Mohit Bhalla, Economic Times, April 6, 2019
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Bisbo's Limerick:
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Don't forget to watch Bisbo's Limerick at the end of each video, that neatly sums up the topic.
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