Sun Claims It Played By Rulebook As Corporate Governance Allegations Smoulder
Sun Pharma, which has been hit by allegations of grave lapses in corporate governance practices, has given its side of the story, essentially emphasizing that it has done no wrong. The company, however, signaled that it is open to reviewing certain operational arrangements should that improve investor confidence.
You may also be interested in...
Sun Pharma and some members of its senior leadership have settled a case pertaining to related party transactions and compliance deviations raised in whistleblower complaints in India.
Early indications that a whistleblower’s allegations of certain serious irregularities by Sun Pharma may not hold water lifted its shares, though it remains unclear if the issue stands completely closed.
Sun has promised to implement certain changes to address corporate governance concerns that have riled investors, including “unwinding” a loan transaction and doing away with a controversial related party arrangement for domestic sales. But will that be enough for markets to "forget" allegations of lapses or "re-rate" the firm any time soon?