The Enforcement Directorate has arrested Sarath Reddy, Director, Aurobindo Pharma, in connection with its probe into the alleged irregularities in the scrapped liquor policy of the Delhi Government. According to the ED sources, Reddy ‘had a role’ in the cartelisation of licenses and alleged kickbacks in the liquor licensing process.
Reddy was arrested on Thursday along with Benoy Babu, General Manager, International Brands, Pernod Ricard.
Meanwhile, in an intimation to the BSE, Aurobindo Pharma said that it has learnt that Reddy, the Whole-Time Director/Promoter Group of the company has been arrested by the Enforcement Directorate. The company is in the process of ascertaining further details and will do further disclosures.
Aurobindo's scrip dropped 11.7 per cent to close at ₹478.10 on the BSE on Thursday.