Adulteration Charges Levelled Against Ranbaxy

The media had reports that the US department of justice has levelled adulteration charges against Ranbaxy Laboratories Ltd.

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The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.

Ranbaxy Laboratories Ltd has vide its letter inter-alia stated, "We wish to inform you that,

1) The Government of the United States of America has filed a Motion before the US District Court in the District of Maryland (Southern Division) requesting that the company be directed to produce all reports concerning Audits conducted by PAREXEL Consulting and related documents in the context of an ongoing investigation by the Government concerning possible violations of Federal laws pertaining to failure to comply with Federal Statutes and Regulations.

2) Even before the Motion was filed, the company had assured the Government that it would provide the PARAXEL Audit documents to it notwithstanding the Client-Attorney-Privilege attached thereto.

3) In the Motion, the Government has made certain references to allegations concerning possible violations of Federal laws (the "allegations") in relation to the Investigation.

4) The Company denies the allegations and asserts that it has not committed any wrongdoing.

5) The Government has not brought any charges against the Company.

6) The Company continues to provide full cooperation to the Government in regard to the Investigation". -- www.nseindia.com

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