Have Not Received Any Query From SEBI On Whistleblower Complaint: Sun Pharma’s Shanghvi
Drug major Sun Pharmaceutical Industries Ltd. said it has not received any query so far from the markets regulator regarding a whistleblower complaint about alleged irregularities in the company.
Shares of Sun Pharma had dived 7.5 percent to Rs 455 after PTI reported that Securities and Exchange Board of India may reopen an insider trading case against the firm and probe alleged lapses by some of its promoters.
As of now, the company has not received any information from SEBI with respect to reopening the insider trading issue, Sun Pharma Managing Direct Dilip Shanghvi said in a conference call with investors.
In August 2017, Sun Pharma, its managing director Shanghvi and nine other entities settled an insider trading probe after paying Rs 18 lakh towards settlement charges. Reports have stated that the regulator is likely to reopen the case on various grounds.
"We are following highest levels of corporate governance at Sun Pharma," Shanghvi said.