In a statement to the BSE exchange, Sun Pharma said, “We further state that there is no material impact of the matter on the process of the merger of Ranbaxy with our company.”
Last month, the high court had ordered an interim status quo on the $4-billion deal, after a suit from some individual investors alleged insider trading in Ranbaxy’s shares by Silverstreet Developers, Sun’s wholly owned arm, before the deal was announced on April 6.
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