AP HC puts clearance for Sun-Ranbaxy deal on hold

The Andhra Pradesh High Court has asked stock exchanges not to approve Sun Pharmaceuticals' all-share transaction to buy Ranbaxy Laboratories until it decides on a petition alleging insider trading in the $4 billion (Rs 24,000 crore) deal. On Friday, the court admitted a writ petition by a group of investors who claimed that entities with prior knowledge of the deal illegally profited to the extent of Rs 285 crore.