Wockhardt denies Carol Info rent payment allegations, link with Sebi orders

Don't want to miss the best from Business Standard?

Drug firm Wockhardt has denied allegations regarding payment of rent by Carol Info Services and its connection with certain orders passed by Sebi in relation to the company.

"In this regard, we categorically deny these allegations and state that these allegations are completely baseless and misleading," Wockhardt said in a regulatory filing late Friday.

It said the company has acted and continues to act in compliance with all applicable laws.

On Friday, the Congress' media and publicity department head, Pawan Khera said that between 2018 and 2024, Madhabi Buch - as a whole-time member and later chairperson of Securities and Exchange Board of India (Sebi) - had been receiving rental income amounting to Rs 2.16 crore from Carol Info Services, a company affiliated to Wockhardt.

Mumbai-based Wockhardt was being investigated by Sebi for various cases, including that of insider trading during 2023, he said at a press conference at the AICC headquarters in Delhi.