India’s Sun Pharma Tumbles On Report Of Fresh Allegations By Whistleblower | 11/13/2018 | Staff
ali11 (Posted by) Level 3
(Reuters) – Shares of India’s Sun Pharmaceutical Industries Ltd slumped over 13 percent on Friday to near six-year low, after a media report of a complaint by a whistleblower raised fresh concerns on the drugmaker’s corporate governance.

The complaint, sent to the capital market regulator Securities and Exchange Board of India (SEBI), is the second in over a month, according to the report by Moneylife magazine.

Complaint - Manufacturer - Aditya - Medisales - Ltd

The whistleblower complaint alleges that an Indian pharmaceutical manufacturer Aditya Medisales Ltd had transactions with Suraksha Realty, controlled by Sun Pharma’s co-promoter, Sudhir Valia, the report stated.

The transactions took place between 2014 and 2017, and...
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