Aurobindo Pharma shares tumble after arrest of director by ED


Drugmaker says P. Sarath Chandra Reddy’s arrest not connected with his operations

Drugmaker says P. Sarath Chandra Reddy’s arrest not connected with his operations

Aurobindo Pharma shares on Thursday slumped 11.7% to ₹478.10 on the BSE following the arrest of whole-time director P. Sarath Chandra Reddy by the Enforcement Directorate.

Earlier in the day, Aurobindo Pharma in a filing with the stock exchange said Mr. Reddy, who is part of the promoter group, has been arrested by the Enforcement Directorate. The company, however, did not mention details of the case stating it is in the process of ascertaining further details and making further disclosures as appropriate.

Later, in another filing, the company said his arrest was not in any way connected with the operations of Aurobindo Pharma or its subsidiaries.



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