INSUBCONTINENT EXCLUSIVE:
On the NSE, the drugmaker's shares opened lower at Rs 416.70 apiece.The Mumbai-based drugmaker Sun Pharma's shares fell 4 per cent on
Friday, a day after the company said it has been ordered to undertake a "forensic" audit of its accounts
The firm said in a statement to financial markets late Thursday that the Securities and Exchange Board of India (SEBI) has told it to review
its financial statements for the years ending March 31, 2016, March 31, 2017 and March 31, 2018
The said forensic audit is presently ongoing
The note gave no reason for the audit
However, news agency Bloomberg news had earlier reported that the development follows a whistleblower complaints on alleged corporate
prompted the firm, controlled by billionaire Dilip Shanghvi, to tweak some of its business contracts to contain the crisis of confidence,
according to Bloomberg.The company is "committed to adhering to all applicable legal and statutory requirements", it said in the filing
"We will ensure that any material developments in this regard are promptly notified to all our stakeholders in line with Regulation 30 of
the SEBI LODR (Listing Obligations and Disclosure Requirement) Regulations," it added.On the Bombay Stock Exchange (BSE), Sun Pharma
declined as much as 4.01 per cent to an intraday low of Rs 414.60 apiece
On the National Stock Exchange (NSE), the drugmaker's shares opened lower at Rs 416.70 apiece and fell to as much as Rs 414.45 apiece,
marking a decrease of 4.01 per cent.At 12:58 pm, Sun Pharma shares traded 2.75 per cent lower at Rs 420.05 apiece on the BSE
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