Sun Pharma declines 5% after SEBI orders forensic audit
SEBI has been poring over Sun Pharma's books of accounts to look into red flags raised by the whistle-blower in his complaint.
Shares of Sun Pharmaceutical Industries declined 5 percent intraday on September 4 after SEBI ordered a forensic audit against the company.
"SEBI has ordered a forensic audit to confirm the findings of its initial inquiry," a senior SEBI official told Moneycontrol on condition of anonymity.
Also Read - SEBI orders forensic audit against Sun Pharma based on whistle-blower complaint: Sources
The development was confirmed by another person privy to the proceedings.
SEBI has kept a close eye on Sun Pharma's books after a whistle-blower raised some red flags against the company in its complaint to the regulator.
At 1000 hrs, Sun Pharmaceutical Industries was quoting at Rs 424.65, down Rs 14.80, or 3.37 percent on the BSE.
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