Mumbai: Markets regulator Sebi Wednesday said it is examining the whistleblower complaint against Dilip Shanghvi-led Sun Pharmaceutical Industries.

A whistleblower had last month approached Sebi with a document alleging various irregularities by the company, its promoter Shanghvi and others.

“There is whistleblower complaint which we are examining. I have nothing more to add," Sebi Chairman Ajay Tyagi told reporters after its board meeting.

Sources had told PTI last month that Sebi may reopen an insider trading case against Sun Pharma and as well as probe alleged lapses by some of its promoters and other entities in raising funds overseas.

Following this, Shangvi, who is also the managing director of the pharma firm, had said it has not received any query so far from the markets regulator regarding the whistleblower complaint.

“We are following highest levels of corporate governance at Sun Pharma," Shanghvi had said.

In August 2017, Sun Pharmaceutical, Shanghvi and nine other entities settled an insider trading probe on payment of 18 lakh towards settlement charges.

However, reports have stated that the regulator is likely to reopen the case as it has powers to reopen cases of settlement related to insider trading on various grounds.

The sources had said that alleged irregularities by the company’s promoters and others in raising funds through Foreign Currency Convertible Bonds (FCCBs) are also likely to be investigated by the watchdog.

In August 2017, the regulator had not disclosed the details of the insider trading case.

However, it had appeared to be related to the acquisition of Ranbaxy by Sun Pharma from Japanese drugmaker Daiichi, as the settlement with the regulator has also been done by former Ranbaxy CEO Arun Sawhney, Daiichi’s director Kazunori Hirokawa, its ex-Chairman Takashi Shoda and its former senior executive officer Tsutomu Une.

Shoda is said to have led Daiichi’s acquisition of Ranbaxy in 2008, though the Japanese giant had to eventually sell its stake in the company to Sun Pharma in 2014.

Besides, the settlement was done by Ranbaxy’s former secretary S K Patawari; Sun Pharma’s directors Sudhir V Valia and Sailesh Desai; and its company secretary Sunil Ajmera.