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Shares of Sun Pharmaceutical Industries on Friday fell nearly 2 per cent after the firm said a forensic audit has been ordered by the Securities ans Exchange Board of India (SEBI)with regards to its financial statements.
The scrip declined 1.63 per cent to close at Rs 424.90 on the Bombay Stock Exchange (BSE). During the day, it dropped 4 per cent to Rs 414.60.
On the National Stock Exchange (NSE), shares fell 1.57 per cent to close at Rs 425 apiece.
Read: Sun Pharma ordered to undergo a forensic audit by SEBI
In a regulatory filing on Thursday, 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“.
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.
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