Silverstreet Developers LLP, which had no holding in Ranbaxy at the end of September 2013, had bought shares of the Gurgaon-based firm aggregating 1.41 per cent stake by end of December 2013. As on March 31, 2014, its holding stood at 1.64 per cent.
In a statement, Sun Pharma said the matter related to purchase of shares of Ranbaxy Laboratories Ltd by Silverstreet Developers LLP ‘does not violate insider trading rules’. It has been reported that Sudhir V Valia, brother-in-law of Sun Pharma Managing Director Dilip Shanghvi, was one of the partners of Silverstreet Developers
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