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Business Headlines : Billionaires Special – from Ambani to Mittal to Chandra to the Singhs



Two among India’s top billionaires are locking horns for a stake in the troubled television network, Zee Entertainment, which also happens to be controlled by yet another billionaire. The battle of the big boys rages on as Mukesh Ambani and Sunil Bharti Mittal are said to be in competing bids to acquire Subhash Chandra’s Zee Entertainment. Their respective telecom carriers i.e. Ambani’s Reliance Jio and Mittal’s Bharti Airtel are in a race for content that they can display via their high speed networks in the world’s second largest mobile market. The Singh Brothers – Malvinder and Shivinder Singh – the billionaires who once had a sprawling empire that boasted mighty investments across pharmaceutical, healthcare and financial service sectors. However, they have now lost control of their empire and are at the receiving end of multiple legal cases filed against them. The Supreme Court, today, in a strictly worded statement by a three member bench headed by Chief Justice Ranjan Gogoi expressed dissatisfaction over the brothers’ reply to its March 14th direction asking them to submit a concrete plan for paying an amount of ₹ 4,000 crores to Japanese drugmaker Daiichi Sankyo for making false representations while selling Ranbaxy, or face a jail sentence.

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