Sebi likely to reopen insider trading case against Sun Pharma - Trouble for the company?

Alleged irregularities by the company's promoters and others in raising funds through Foreign Currency Convertible Bonds (FCCBs) may also be investigated by the market regulator.

Dec 03, 2018 02:12 IST India Infoline News Service

The Securities Exchange Board of India (Sebi) is likely to re-open an insider trading case against Sun Pharma after the market regulator received an application that claims various irregularities by the company, its promoter Dilip Shanghvi, and others.

As per media reports, the managing director of the company Dilip Shanghvi and nine other entities, in August 2017, settled an insider trading probe on payment of Rs18 lakh towards settlement charges. Further, alleged irregularities by the company's promoters and others in raising funds through Foreign Currency Convertible Bonds (FCCBs) may also be investigated by the market regulator.

Apparently, the news may have an impact on share prices of the company, which has suffered during the past week due to market rumors. Read more

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