Legal16 May 2026, 09:51 pm
Aurobindo Pharma: Court Dismisses Writ Petition
AI Summary
The Hon'ble High Court of Telangana, Hyderabad, dismissed a writ petition filed by promoters of Aurobindo Pharma, including Mr. P. V. Ramprasad Reddy, Ms. P. Suneela Rani, Mr. Kambam Prasad Reddy, and Trident Chemphar Limited. The petition sought to set aside an Impugned Communication from SEBI directing the promoters to deposit profits of ₹6.53 crores plus interest related to alleged insider trading violations. The order was issued on May 6, 2026, and received on May 15, 2026. The promoters will decide on future actions in consultation with legal advisors. The company states the order has no impact on its financials or operations.
Key Highlights
- High Court of Telangana dismissed writ petition by Aurobindo Pharma promoters.
- Petition related to SEBI's order to deposit ₹6.53 Cr profits plus interest for alleged insider trading.
- SEBI's order stemmed from alleged violations of insider trading regulations in 1992.
- Aurobindo Pharma states the court order has no impact on the company's financials.
- Promoters will decide on future course of action after consulting legal advisors.