Sebi bans Par Drugs Chemicals from slump sale to promoter-linked entity
Sebi on Monday barred API manufacturer Par Drugs and Chemicals from going ahead with the proposed slump sale of its core business to a promoter-related entity, citing prima facie irregularities in valuation, shareholder communication and voting process. In an interim order, Sebi restrained the Vadodara-based Par Drugs and Chemicals Ltd (PDCL) from executing the Business…