Sun Pharma has full faith that Gandhi conducts himself with the utmost integrity in any situation, i

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anomous

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  • Apr 11, 2019,
  • Updated Apr 11, 2019, 8:53 PM IST
(Eds: Adding Sun Pharma statement after para 14) New Delhi, Apr 11 (PTI) Sun Pharma group's senior executive Abhay Arvind Gandhi and his wife Kiran have settled with Sebi a case related to insider trading in shares of Ranbaxy Laboratories in 2014.Both have paid a total of over Rs 70 lakh as settlement charges. At the time of alleged violation, Abhay Arvind Gandhi was the CEO of Sun Pharma Laboratories Ltd (SPLL), a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd.Currently, Abhay Gandhi is CEO of Sun Pharma's North America business. Gandhi and his wife traded in Ranbaxy shares soon after Japanese major Daiichi, in 2014, agreed to sell Ranbaxy to Sun Pharma.According to separate notices sent to the two individuals, they had traded in the shares of Ranbaxy when the proposed deal was to be made public. The proposed deal was UPSI (Unpublished Price Sensitive Information) from February 14, 2014 to April 6, 2014. By trading in the shares of Ranbaxy during the UPSI period, both allegedly violated prohibition of insider trading norms, as per the notices. As Gandhi was then the chief of SPLL, he and his wife were insiders under the Sebi norms. Gandhi and Kiran traded in 454 shares and 6,770 shares, respectively, during the UPSI period. In two separate but similarly-worded orders issued on Thursday, Sebi said the two individuals sought to settle the adjudication proceedings initiated against them in 2017.Under Sebi's settlement mechanism, without admission or denial of guilt, both proposed to pay Rs 35.06 lakh each to settle the case.The settlement amounts proposed were approved by a panel of Sebi's Whole Time Members, according to the two orders.While settling the case, the regulator also said that enforcement actions could be initiated if any representation made by the two individuals is found to be untrue. "Sun Pharma is pleased that the matter of Mr Abhay Gandhi and his spouse has been brought to a closure. "Without admitting or denying the findings of fact and conclusions of law, Mr Gandhi and his spouse have proposed to settle the proceedings with Sebi," the company said in a statement. Sun Pharma has full faith that Gandhi conducts himself with the utmost integrity in any situation, it added. PTI VHP AA RAM PTI VHP RAM
 








anomous said:
  • Apr 11, 2019,
  • Updated Apr 11, 2019, 8:53 PM IST
(Eds: Adding Sun Pharma statement after para 14) New Delhi, Apr 11 (PTI) Sun Pharma group's senior executive Abhay Arvind Gandhi and his wife Kiran have settled with Sebi a case related to insider trading in shares of Ranbaxy Laboratories in 2014.Both have paid a total of over Rs 70 lakh as settlement charges. At the time of alleged violation, Abhay Arvind Gandhi was the CEO of Sun Pharma Laboratories Ltd (SPLL), a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd.Currently, Abhay Gandhi is CEO of Sun Pharma's North America business. Gandhi and his wife traded in Ranbaxy shares soon after Japanese major Daiichi, in 2014, agreed to sell Ranbaxy to Sun Pharma.According to separate notices sent to the two individuals, they had traded in the shares of Ranbaxy when the proposed deal was to be made public. The proposed deal was UPSI (Unpublished Price Sensitive Information) from February 14, 2014 to April 6, 2014. By trading in the shares of Ranbaxy during the UPSI period, both allegedly violated prohibition of insider trading norms, as per the notices. As Gandhi was then the chief of SPLL, he and his wife were insiders under the Sebi norms. Gandhi and Kiran traded in 454 shares and 6,770 shares, respectively, during the UPSI period. In two separate but similarly-worded orders issued on Thursday, Sebi said the two individuals sought to settle the adjudication proceedings initiated against them in 2017.Under Sebi's settlement mechanism, without admission or denial of guilt, both proposed to pay Rs 35.06 lakh each to settle the case.The settlement amounts proposed were approved by a panel of Sebi's Whole Time Members, according to the two orders.While settling the case, the regulator also said that enforcement actions could be initiated if any representation made by the two individuals is found to be untrue. "Sun Pharma is pleased that the matter of Mr Abhay Gandhi and his spouse has been brought to a closure. "Without admitting or denying the findings of fact and conclusions of law, Mr Gandhi and his spouse have proposed to settle the proceedings with Sebi," the company said in a statement. Sun Pharma has full faith that Gandhi conducts himself with the utmost integrity in any situation, it added. PTI VHP AA RAM PTI VHP RAM
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anomous said:
  • Apr 11, 2019,
  • Updated Apr 11, 2019, 8:53 PM IST
(Eds: Adding Sun Pharma statement after para 14) New Delhi, Apr 11 (PTI) Sun Pharma group's senior executive Abhay Arvind Gandhi and his wife Kiran have settled with Sebi a case related to insider trading in shares of Ranbaxy Laboratories in 2014.Both have paid a total of over Rs 70 lakh as settlement charges. At the time of alleged violation, Abhay Arvind Gandhi was the CEO of Sun Pharma Laboratories Ltd (SPLL), a wholly-owned subsidiary of Sun Pharmaceutical Industries Ltd.Currently, Abhay Gandhi is CEO of Sun Pharma's North America business. Gandhi and his wife traded in Ranbaxy shares soon after Japanese major Daiichi, in 2014, agreed to sell Ranbaxy to Sun Pharma.According to separate notices sent to the two individuals, they had traded in the shares of Ranbaxy when the proposed deal was to be made public. The proposed deal was UPSI (Unpublished Price Sensitive Information) from February 14, 2014 to April 6, 2014. By trading in the shares of Ranbaxy during the UPSI period, both allegedly violated prohibition of insider trading norms, as per the notices. As Gandhi was then the chief of SPLL, he and his wife were insiders under the Sebi norms. Gandhi and Kiran traded in 454 shares and 6,770 shares, respectively, during the UPSI period. In two separate but similarly-worded orders issued on Thursday, Sebi said the two individuals sought to settle the adjudication proceedings initiated against them in 2017.Under Sebi's settlement mechanism, without admission or denial of guilt, both proposed to pay Rs 35.06 lakh each to settle the case.The settlement amounts proposed were approved by a panel of Sebi's Whole Time Members, according to the two orders.While settling the case, the regulator also said that enforcement actions could be initiated if any representation made by the two individuals is found to be untrue. "Sun Pharma is pleased that the matter of Mr Abhay Gandhi and his spouse has been brought to a closure. "Without admitting or denying the findings of fact and conclusions of law, Mr Gandhi and his spouse have proposed to settle the proceedings with Sebi," the company said in a statement. Sun Pharma has full faith that Gandhi conducts himself with the utmost integrity in any situation, it added. PTI VHP AA RAM PTI VHP RAM
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The not-so-funny thing is that the first time I had a sit down meeting with AG, he told me things that had me thinking ‘this guy is sketch at best’.
Insider trading is just ONE thing, but I assure you, OIG has him sleeping, dressed, with one eye open and passport in hand.
 












anonymous said:
Old news. This is old news. Baseless character attacks.
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Baseless ?

His character resonates through the org, creating what is likely the highest employee turnover rate in all of pharma
2. Baseless ? Ummm… he and his wife make a settlement on insider trading charges -to likely avoid jail time but more importantly so as to not put Dilip in jail.
3. OIG investigation and fine …
4. Why do you think RG is still there/protected ?
Because he can absolutely sink the whole ship.
#freedomispricess
 




anonymous said:
Baseless ?

His character resonates through the org, creating what is likely the highest employee turnover rate in all of pharma
2. Baseless ? Ummm… he and his wife make a settlement on insider trading charges -to likely avoid jail time but more importantly so as to not put Dilip in jail.
3. OIG investigation and fine …
4. Why do you think RG is still there/protected ?
Because he can absolutely sink the whole ship.
#freedomispricess
Click to expand...
Turnover rate at Sun tells you a lot about the company. They can hardly keep good people or get good hires.
 












anonymous said:
Turnover rate at Sun tells you a lot about the company. They can hardly keep good people or get good hires.
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Sun's turnover is toxic, an embarrassment (if it were possible for their management to have any shame - they do not). Institutional knowledge flows out the door in a torrent and they simply do not care, as they have no value for human capital. "Human Resources" are an oxymoron at Sun.
 




anonymous said:
Sun's turnover is toxic, an embarrassment (if it were possible for their management to have any shame - they do not). Institutional knowledge flows out the door in a torrent and they simply do not care, as they have no value for human capital. "Human Resources" are an oxymoron at Sun.
Click to expand...

Given that it is THAT BAD, how do they make money or continue to survive given people can't wait to leave?
 
























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