"Silver Street Developers LLP had bought the Ranbaxy shares when we had no access to non-public information of Ranbaxy. We hereby confirm that we had not bought any shares in the period from April 1 to April 7," Sun Pharmaceutical Industries said in a statement to stock exchanges.
It further added: "Specifically, we had no role to play in the trading that happened in the week prior to the announcement wherein the share price of Ranbaxy went up."
Subsequently, the Andhra Pradesh High Court had suspended the deal and issued orders to BSE and NSE to maintain interim status quo on the matter. The court order came on a writ petition filed by some individual investors.
Commenting on the court action, Sun Pharma said: "We were not served the notice of the hearing for the AP High Court case referred to and the matter was decided ex parte."
Last month, Sun Pharma had announced acquisition of troubled Ranbaxy Laboratories in an all-stock transaction with a total equity value of USD 3.2 billion, along with debt of USD 800 million taking the overall deal value to USD 4 billion.