A slap on the wrist from the regulator hasn’t really helped restore investors’ faith in a company dogged by multiple governance and ethical issues.
Sun Pharmaceutical Industries Ltd, its owner Dilip Shanghvi and six board members are out of the doghouse. They’ve finally managed to shake off the regulatory overhang that’s haunted them for over two years now. In the second week of February, India’s fourth most valuable pharma company settled charges of poor governance standards and non-disclosure of related party transactions, among others, with the market regulator.
The media, which had been giving the pharma company a hard time all this while, was much kinder this time around, with mere mentions of the Securities and Exchange Board of India settlement orders. A cumulative …
Jayshree is a former writer at The Morning Context. As journalist, she had nearly a decade of experience across Mint, Business Standard and Bloomberg TV India. The bulk of her career has been devoted to tracking the capital markets regulator, exchanges, regulatory policies, financial scams and corporate governance issues. One of her biggest breaking stories was her incisive coverage of the colocation scam which put the lapses at NSE in the public domain.
jayshree@mailtmc.com