Sun Pharma MD, 10 others settle insider trading case with Sebi - ( via NewsPoints Desk)

  • Sun Pharmaceutical, including managing director Dilip Shanghvi and chairman Israel Makov, have resolved allegations of insider trading with the Securities and Exchange Board of India (Sebi), reported Friday.

  • The settlement terms included a pentalty of Rs. 18 lakh.

  • Although details of the case were not divulged, the allegations appeared to stem from Sun Pharma's purchase of Ranbaxy from Daiichi Sankyo, as the settlement also included former Ranbaxy CEO Arun Sawhney and former Daiichi Sankyo chairman Takashi Shoda.

  • Sebi noted that the parties settled the claims "without admitting or denying the findings of fact and conclusion of law."

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