New Delhi, Jan. 4 -- Before his sons dismantled the company he had meticulously built, tarnishing the reputation of a proud business dynasty, Parvinder "Pammi" Singh was regarded as a legend in Indian business.

Unlike first-generation entrepreneurs, Parvinder inherited Ranbaxy-a modest pharma business his father, Bhai Mohan Singh, had acquired from its founders, Ranbir Singh and Gurbax Singh. A wealthy contractor who migrated to Delhi from Rawalpindi during Partition, Bhai Mohan Singh laid the company's foundations.

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By the time Parvinder returned to India in 1967 after completing his studies in the US, Ranbaxy was a medium-sized domestic pharma p...