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Goldman Sachs fined for gun-jumping in Biocon investment by Indian watchdog

By Freny Patel ( January 17, 2025, 00:26 GMT | Insight) -- Goldman Sachs was penalized for "gun-jumping" after having failed to notify the Indian antitrust watchdog of its investment in Biocon Biologics. The Competition Commission of India imposed a fine of 4 million rupees following Goldman Sachs investment in Biocon Biologics' optionally convertible debentures, which would grant the global investment bank a 3.81 percent stake and access to crucial information of the Indian bio-pharmaceutical company, exceeding the typical rights afforded to ordinary shareholders.Goldman Sachs was penalized for "gun-jumping" after having failed to notify the Indian antitrust watchdog of its investment in Biocon Biologics....

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