Based on a writ petition filed by some individual investors, the High Court while ordering the status quo on Friday, issued notices to SEBI, BSE, NSE, Sun Pharma, Ranbaxy, Daichii Sankyo and Silver Street Developers.
The deal had separately come under scanner of the market regulator Sebi for alleged insider trading violations and the present 'no-objection' from the exchanges.
Regulator likely to probe possible violation of insider-trading norms.
Sun Pharma's offer was tempting because Ranbaxy was too busy fighting fires in the US to concentrate on operations.
Nearly 150 senior management staff will be asked to leave.
After a detailed scrutiny, fair trade watchdog CCI has suggested Sun Pharma and Ranbaxy to make certain changes in their proposed $4 billion merger deal, including possible divestment of some brands, to address anti-competitive concerns.
Based on a petition filed by two individual investors, the court on April 25, issued interim 'status quo' orders on the merger process.
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
NPPA suggests expanding the list of essential medicines whose prices are controlled
Post-elections, the pace is expected to be greater for inbound deals, which have been largely pushed back for many months now for want of better clarity on the policy stance of new government, experts said.
Even smaller companies like Torrent Pharma and Alembic file five to 10 ANDAs every year.
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