Aurobindo Pharma has issued an official clarification regarding the discharge of P Sarath Chandra Reddy, Non-Executive Director, in the Delhi Liquor Policy case. The Court of Sh. Jitendra Singh, Special Judge (PC Act) (CBI) -23, Rouse Avenue Court Complex, New Delhi discharged Reddy along with 22 other accused after extensive examination of evidence.

Court Ruling Details

The following table summarizes the key details of the court ruling:

Case Background and Charges

The case originated from FIR No. RC0032022A0053 lodged by CBI/ACB under multiple sections including 120-B, 420 and 201 of IPC and provisions of Section 7, 7A, 8 and 12 of the Prevention of Corruption Act, 1988. P Sarath Chandra Reddy was added as Accused No. 23 via the 4th supplementary chargesheet dated July 29, 2024.

Court's Findings

After thorough analysis of CBI allegations and material evidence, the court found no material evidence showing that P Sarath Chandra Reddy had:

• Participated in any conspiracy
• Influenced any public servant
• Paid or received any illegal gratification
• Obtained any unlawful benefit in relation to Delhi Liquor Policy

The court noted that it failed to comprehend the basis on which P Sarath Chandra Reddy was arrayed as an accused in the case.

Company's Official Response

Aurobindo Pharma issued the clarification pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in response to queries from NSE and BSE regarding media reports. The company confirmed that P Sarath Chandra Reddy has been discharged from the case in relation to all charges levelled by the CBI.

Aurobindo Pharma 's subsidiary facility has undergone regulatory scrutiny as the US Food and Drug Administration completed an inspection of Eugia Pharma Specialties' Unit I from February 16 to February 27.

FDA Inspection Results

The inspection of the formulation manufacturing facility, located at Kolthur Village, Shameerpet Mandal, Ranga Reddy, Telangana, concluded with four observations from the regulatory authority. The company has committed to respond to the US FDA within stipulated timelines as per standard regulatory procedures.

Company Response and Impact

Aurobindo Pharma has confirmed through its regulatory filing that there is no impact on the company's financials or operations due to the inspection findings. The pharmaceutical manufacturer emphasized its commitment to maintaining the highest quality manufacturing standards across all global facilities.

Regulatory Oversight

FDA inspections are routine regulatory procedures designed to ensure pharmaceutical manufacturing facilities maintain compliance with established quality standards and manufacturing practices. The completion of this inspection represents part of the ongoing regulatory oversight process for pharmaceutical operations.

The company has assured stakeholders that it will keep stock exchanges informed of any further developments relating to this inspection. Such regulatory interactions are common in the pharmaceutical industry as companies work to maintain compliance with stringent manufacturing requirements.