Legacy under threat, will Analjit Singh’s new bet pay off?

Why read this story?

Editor's note: Over the last couple of months, Analjit Singh has seen his best-laid plans crumble.   In April, it came to light that Singh’s wife, Neelu Analjit Singh, had taken him to the National Company Law Tribunal, accusing the entrepreneur of diverting and siphoning off funds through privately held companies. This, she alleged, was done to benefit a woman with whom he was having an affair.  The allegations are sensational and shocking. Besides, it is rare for the wife of a leading entrepreneur to come out in the open and make such claims.  Singh has, over the years, built up a reputation for being a straightforward, governance-driven businessman, who seemed to have ring-fenced his business from his family. There is a deeper personal reason for that.  By 2011, the founder of the Max Group had laid down an elaborate system that he believed would prevent Ranbaxy-like events from happening on his watch. The pharmaceuticals major was built by his father Bhai Mohan Singh, who was ousted by his eldest son Parvinder Singh. Later, in 2008, Parvinder’s sons Malvinder and Shivinder sold the …