Daiichi moved the high court seeking execution of the ₹3,500 crore a Singapore tribunal's arbitral award won by it in April 2016. Sebi, in an ad interim ex-parte order of October 17, 2018, had directed that FHL take necessary steps to recover ₹403 crore along with interest from the Singh brothers and various promoter companies within three months. The market regulator had also directed Singh brothers and others not to dispose of or alienate any of their assets or divert any funds without its prior permission, till completion of the investigation. The high court had on August 10, 2018 restrained the Singh brothers from operating their bank accounts in India or abroad and selling any property. On February 16, 2018 the Supreme Court had dismissed Singh brothers' appeal against the high court verdict upholding the international arbitral award.

Source: Mint May 14, 2019 14:26 UTC