Shares of Suzlon Energy fell 3% to Rs 25 in Wednesday s trade on BSE after the Sun Pharma promoter Dilip Shanghvi and Associates decided to terminate the amended and restated shareholders agreement that was signed in February 2020.
In a separate statement, Sanghvi said that although the formal shareholder agreement has been cancelled, he and his affiliated firms will remain investors in Suzlon Energy.
With the termination of the agreement, the investor group s nominee director on Suzlon s board, Hiten Timbadia, has also resigned with effect from September 26, Suzlon added
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.