The Securities Appellate Tribunal (SAT) has set aside regulator Sebi's order that had barred Morepen Laboratories from the capital markets for one year. Sebi, in September 2019, had prohibited Morepen Laboratories from the capital market for one year for making misleading disclosures about the issuance of global depository receipts (GDRs) way back in 2003. Pursuant to this, the company moved SAT against the order passed by the Securities and Exchange Board of India (Sebi).
Morepen Laboratories is a well-known pharma company having well equipped Research & Development Centre and is all set to seize the Generic revolution in pharma industry, by filing multiple DMFs and COS for new APIs.
