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AP HC puts Sun Pharma - Ranbaxy sale on hold over insider trading writ

The Andhra Pradesh high court has ordered the $3.2bn takeover to be stayed as "interim status quo" in a writ petition alleging insider trading, reported Bloomberg.

The writ petition was filed by a number of investors, seeking to force an insider trading investigation by the Securities and Exchange Board of India (SEBI).

Three Indian law firms, Amarchand, Luthra and Crawford Bayley, and two foreign firms are advising on the takeover.

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