Director's arrest no way linked to operations: Aurobindo Pharma

The arrest of Aurobindo Pharma director is no way connected to the company or the operations of its subsidiaries, said the Hyderabad-based pharma major on Thursday. Sharath Reddy of Aurobindo Pharma and Benoy Babu of Pernod Ricard, a liquor company, were arrested by the Enforcement Directorate late Wednesday under the Prevention of Money Laundering Act (PMLA).

"Further to the disclosure of even date, the company further learnt that the arrest of P Sarath Chandra Reddy, whole-time director/promoter group of the company, is not in any way connected with the operations of Aurobindo Pharma Limited or its subsidiaries," the company said in a statement.

Aurobindo shares tanked 11.69 per cent apiece today following Reddy's arrest and closed at Rs 478.10.