Sebi starts probe against Sun Pharma, to also reopen insider trading case

The Securities and Exchange Board of India (Sebi) has initiated an inquiry into the affairs of pharma major Sun Pharmaceutical Industries on the basis of a whistle-blower complaint, said regulatory sources. 

The sources said the market regulator was in receipt of a 150-page letter in which the whistle-blower accused the company of committing corporate governance and tax-related lapses, besides other securities market-related violations. 

When contacted, a Sun Pharma spokesperson said, “We have not been contacted by Sebi in this regard.” 

Sebi, according to sources, also plans to reopen an insider trading case against the company and its promoters that was