SEBI directs Sun Pharma to undergo forensic audit of financial statements for FY16-18

Sun Pharma, however, did not provide any specific details on the reasons for the Securities and Exchange Board of India to order the forensic audit.

New Delhi: Drug major Sun Pharmaceutical Industries on Thursday said a forensic audit has been ordered by markets regulator Sebi with regard to its financial statements for three financial years between 2015-16 and 2017-18.

In a regulatory filing, Sun Pharma said, "A forensic audit has been ordered by Sebi w.r.t. the financial statements of Sun Pharmaceutical Industries Ltd for the financial years ending March 31, 2016, March 31, 2017, and March 31, 2018".

The said forensic audit is currently going on, it added.

Read Also: Sun Pharma Revital H Woman ads misleading, inadequately substantiated: ASCI

Sun Pharma, however, did not provide any specific details on the reasons for the Securities and Exchange Board of India to order the forensic audit.

A forensic audit is an examination and evaluation of a firm's or individual's financial records to derive evidence that can be used in a court of law or legal proceeding.

Read Also: Sun Pharma collaborates with CMS to develop, commercialize 7 generic products in China