 "Wockhardt vehemently denies allegations of improper rental payments and insists it remains compliant with all applicable laws amid investigations.")
Wockhardt, the Mumbai-based drug company, has firmly rejected allegations concerning rental payments connected to Carol Info Services and issues raised by the Securities and Exchange Board of India (Sebi). In a recent regulatory filing, Wockhardt described the claims as “completely baseless and misleading,” emphasizing their commitment to abiding by all laws. These statements came in response to accusations made by Congress spokesperson Pawan Khera, who claimed that Madhabi Buch, a former Sebi member and chairperson, received significant rental income linked to Wockhardt. The company is currently under investigation by Sebi for various matters, including insider trading. Despite the ongoing scrutiny, Wockhardt maintains its innocence and adherence to regulations.
Wockhardt, a notable drug firm based in Mumbai, has recently responded to allegations regarding rental payments tied to Carol Info Services. These claims arise in the context of orders issued by the Securities and Exchange Board of India (Sebi). In a regulatory filing, Wockhardt firmly stated that the allegations are baseless and misleading, asserting that the company has always acted in full compliance with all applicable laws.
The controversy gained traction when Pawan Khera, head of the Congress’ media and publicity department, claimed that Madhabi Buch, who served as a whole-time member and later as chairperson of Sebi, received rental income of Rs 2.16 crore from Carol Info Services between 2018 and 2024. This connection raises further questions as Wockhardt is already under Sebi investigation for various matters, including insider trading in 2023.
As the situation unfolds, Wockhardt continues to maintain its commitment to legal compliance and transparency.
Tags: Wockhardt, Sebi, insider trading, Carol Info Services, allegations, compliance, Mumbai drug firm, corporate governance.
What are the allegations against Wockhardt regarding Carol Info?
Wockhardt is accused of not making rent payments to Carol Info.
Has Wockhardt responded to these allegations?
Yes, Wockhardt has denied the allegations and stated they are not true.
What is the connection between these allegations and Sebi orders?
The allegations are linked to regulatory matters involving Sebi, but Wockhardt claims they are unrelated to their business practices.
Are there any legal actions taken regarding these allegations?
As of now, there are no specific legal actions mentioned against Wockhardt related to this issue.
What should Wockhardt investors know about this situation?
Investors should keep an eye on updates, but Wockhardt has said that these claims are false and that they intend to clear their name.
