Insider trading? HC orders status quo on Sun Pharma-Ranbaxy deal

Apr 30 2014, 01:15 IST
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HC ordered a status quo after hearing a writ petition filed by a few individual investors. Thinkstock HC ordered a status quo after hearing a writ petition filed by a few individual investors. Thinkstock
SummaryHC ordered a status quo after hearing a writ petition filed by a few individual investors.

made, pushing the share price over 25%. Explaining how it has not violated insider trading rules, Sun had further said: “Silverstreet Developers LLP has two partners. Both are 100% subsidiaries of Sun Pharma. Hence, all the benefits flowing from the investment in Ranbaxy shall accrue to Sun Pharma.”

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