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The Andhra Pradesh High Court on Saturday disposed off a case related to the Ranbaxy-Sun Pharma merger by vacating the status quo order.
Hearing on a plea requesting the court to direct SEBI to investigate insider trading related to the merger of Ranbaxy with Sun Pharmaceuticals was completed on Friday. The petition was filed by two investors.
While denying the charge of insider trading, counsel for Ranbaxy argued that there was no link between insider trading and the merger deal and the market regulator had already initiated a probe into it.
Earlier, the SEBI informed the court that an investigation into insider trading charges was on.
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