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Sun Claims It Played By Rulebook As Corporate Governance Allegations Smoulder

 
• By Anju Ghangurde

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.

Governance
SUN IS UNDER A CLOUD OVER ALLEGED CORPORATE GOVERNANCE LAPSES • Source: Shutterstock

Sun Pharmaceutical Industries Ltd., currently in the eye of a storm over allegations of serious lapses in corporate governance practices, sought to address investor misgivings, generally claiming that it has played by the rule book, but indicating that it is open to reviewing certain operational aspects that may be making investors uncomfortable.

Sun’s defense came against a backdrop of allegations of governance deviations initially flagged by the Australian brokerage Macquarie and then followed by a reported complaint to the Indian markets regulator by a whistle-blower

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