India’s largest pharmaceutical company, Dilip Shanghvi-led Sun Pharma saw its valuations tumble when a note titled “Murky Waters of Sun Pharma” by a foreign brokerage did the rounds on social media in November-end.
The note talked of inadequate disclosures by the firm related to the role of Shanghvi’s brother-in-law and an executive director of Sun Pharma, Sudhir Valia, about Sun Pharma’s past links with dubious traders Ketan Parekh and Dharmesh Doshi, about related-party transactions involving Shanghvi and his family and guarantees given to a certain real ...
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