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Not received any query so far from Sebi: Sun Pharma

Press Trust of India  |  New Delhi 

Drug Industries Monday said it has not received any query so far from the markets regulator Sebi regarding a complaint regarding alleged irregularities by the company.

Shares of dived 7.5 per cent after reports that markets regulator Sebi 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 query from Sebi with regard to complaint and not received any information from Sebi with respect to reopening insider trading issue, Founder and MD Dilip said in an investors call.

He was addressing investors following reports that a whistle-blower has approached Sebi with a document alleging various irregularities by the company, and others.

In August 2017, Sun Pharmaceutical, its and nine other entities settled an insider trading probe on payment of Rs 18 lakh towards settlement charges.

However, reports have stated that the regulator is likely to reopen the case as it has powers to reopen cases of settlement related to insider trading on various grounds.

"We are following highest levels of corporate governance at Sun Pharma," Shanghvi said.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 03 2018. 21:05 IST
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