The Enforcement Directorate (ED) conducted raids at the premises of KPMG arm BSR & Associates and Deloitte Haskins & Sells LLP in connection with a money-laundering probe into the alleged financial irregularities at Infrastructure Leasing & Financial Services Ltd (IL&FS). According to reports, the raids are conducted under the prevention of money laundering act (PMLA).
Holding Deloitte Haskins & Sells LLP and CJ Goswami & Associates, the secretarial auditor of Sun Pharmaceutical Industries Ltd (Sun Pharma), responsible for not reporting related party transactions of Sun Pharma with its sole distributor and promoter entity Aditya Medisales Ltd, the registrar of companies (RoC) in Gujarat has slapped a penalty of Rs1.50 lakh each on the audit firm and secretarial auditor of the company.
BW Businessworld
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.
Stocks in the news: ITC, Bharat Forge, Sun Pharma, ACC and Motherson Sumi
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Last Updated: Feb 12, 2021, 08:09 AM IST
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Nifty futures on the Singapore Exchange traded 13.00 points, or -0.09 per cent, lower at 15,177.50.
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Nifty futures on the Singapore Exchange traded 13.00 points, or -0.09 per cent, lower at 15,177.50 in signs that Dalal Street was headed for a muted start on Friday. Here are a few stocks which may buzz the most in today s trade:
Q3 earnings: Motherson Sumi, Bharat Forge, Glenmark Pharmaceuticals, Hindustan Aeronautics, Indiabulls Housing Finance, GMR Infrastructure, Godrej Industries and Grasim are among the companies that will report their financial results for the October-December period on Friday.
Aditya Medisales case: Sebi accepts settlement pleas of Sun Pharma, promoters
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Last Updated: Feb 11, 2021, 04:13 PM IST
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Synopsis
Sebi had initiated a probe against Sun Pharma, its managing director Dilip Shanghvi and its directors on the basis of two whistleblower complaints.
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Sebi had initiated a probe against Sun Pharma, its managing director Dilip Shanghvi and its directors on the basis of two whistleblower complaints.
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MUMBAI: The Securities and Exchange Board of India (Sebi) today disposed of charges against Sun Pharmaceutical Industries, and its promoters and directors for alleged diversion of funds through its subsidiary Aditya Medisales, after all the plaintiffs in the case filed a settlement plea.