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Sun Pharma, Officials Including Dilip Shanghvi Settle Case Of Alleged Market Norms Violation With SEBI
Sebi had received two whistleblower complaints, wherein allegations were made against Sun Pharmaceutical Industries Ltd (SPIL) and its wholly-owned subsidiary Sun Pharmaceutical Laboratories Ltd (SPLL), alleging that the firms had been diverting funds through its sole distributor in India, Aditya Medisales Ltd.
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Sun Pharmaceutical Industries Ltd and its senior officials, including Managing Director Dilip Shanghvi, on Thursday settled with regulator Sebi a case pertaining to alleged violation of listing obligation and disclosure requirements norms.
According to separate settlement orders, Sun Pharmaceutical paid over Rs 56.11 lakh towards settlement charges and Shanghvi paid Rs 62.35 lakh.