<p class="title">Shares of Sun Pharmaceuticals on Tuesday surged over 6 per cent after it replaced its domestic formulations distributor Aditya Medisales with its own subsidiary in the backdrop of a second whistleblower complaint filed against the company.</p>.<p class="bodytext">On BSE, the stock gained 6.12 per cent to Rs 422.75.</p>.<p class="bodytext">Similarly, on NSE, the stock rallied 6.32 per cent to its intra-day high of Rs 423.50.</p>.<p class="bodytext">The stock closed with nearly 2 per cent gains on Monday.</p>.<p class="bodytext">"Sun Pharma's distribution related to India's domestic formulations business shall be transitioned from Aditya Medisales Ltd., the current distributor, to a wholly-owned subsidiary of Sun Pharma," the company said in a regulatory filing.</p>.<p class="bodytext">Sun Pharma said this change will be made effective by first quarter of 2019-20, post receipt of all requisite regulatory approvals.</p>.<p class="bodytext">The company also announced unwinding of a transaction amounting to Rs 2,238 crore with Atlas Global Trading and initiated steps to induct S R B C & Co LLP, its statutory auditors, as auditors of subsidiaries.</p>.<p class="bodytext">Last week, Sun Pharmaceutical asked markets regulator Sebi to look into the issues of certain entities and individuals allegedly adopting unfair trade practices prejudicial to the company's shareholders.</p>.<p class="bodytext">Amid reports that a second whistleblower complaint has been filed against it and shares taking a beating on the exchanges, Sun Pharma had written to Sebi flagging concerns that certain entities were allegedly adopting unfair trade practices. </p>
<p class="title">Shares of Sun Pharmaceuticals on Tuesday surged over 6 per cent after it replaced its domestic formulations distributor Aditya Medisales with its own subsidiary in the backdrop of a second whistleblower complaint filed against the company.</p>.<p class="bodytext">On BSE, the stock gained 6.12 per cent to Rs 422.75.</p>.<p class="bodytext">Similarly, on NSE, the stock rallied 6.32 per cent to its intra-day high of Rs 423.50.</p>.<p class="bodytext">The stock closed with nearly 2 per cent gains on Monday.</p>.<p class="bodytext">"Sun Pharma's distribution related to India's domestic formulations business shall be transitioned from Aditya Medisales Ltd., the current distributor, to a wholly-owned subsidiary of Sun Pharma," the company said in a regulatory filing.</p>.<p class="bodytext">Sun Pharma said this change will be made effective by first quarter of 2019-20, post receipt of all requisite regulatory approvals.</p>.<p class="bodytext">The company also announced unwinding of a transaction amounting to Rs 2,238 crore with Atlas Global Trading and initiated steps to induct S R B C & Co LLP, its statutory auditors, as auditors of subsidiaries.</p>.<p class="bodytext">Last week, Sun Pharmaceutical asked markets regulator Sebi to look into the issues of certain entities and individuals allegedly adopting unfair trade practices prejudicial to the company's shareholders.</p>.<p class="bodytext">Amid reports that a second whistleblower complaint has been filed against it and shares taking a beating on the exchanges, Sun Pharma had written to Sebi flagging concerns that certain entities were allegedly adopting unfair trade practices. </p>