Board has unanimously approved the demerger of the Company's Undertaking related to Innovative Research and Development and New Drug Delivery Systems to a new Company. The Board also approved the draft Scheme of demerger, which inter alia provides the following:- 1. The Appointed Date for the demerger shall be April 01, 2006. 2. After the demerger Scheme takes effect, the Shareholders of the Company will be allotted without any further action or deed, One Equity Share of Re 1/- each of the new Company for every One Equity Share of Rs 5/- each of the Company, as on the record to be fixed for the purpose. 3. The Equity Shares of the new Company which will be allotted on completion of demerger scheme will be got listed on the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd subject to the compliance of listing requirements.The draft Scheme of demerger as approved by the Board is subject to the approval of the Stock Exchanges, shareholders, High Court of Gujarat at Ahmedabad and such other authorities / parties as may be required. Sun Pharmaceuticals Industries Ltd has informed the Exchange that the Board of the Directors of the Company at its meeting held on February 09, 2006 unanimously approved the demerger of the Company's Undertaking related to Innovative Research and Development and New Drug Delivery Systems to a new Company. The Board also approved the draft Scheme of demerger, which interalia provides the following -: 1) The Appointed Date for the demerger shall be April 1, 2006. 2) After the demerger Scheme takes effect, the Shareholders of the Company will be allotted without any further action or deed, One Equity Share of Re. 1/- (Rupee One Only) each of the new Company for every One Equity Share of Rs. 5/- each of Sun Pharmaceutical Industries Ltd, as on the record to be fixed for the purpose. 3) The Equity Shares of the new company which will be allotted on the completion of the demerger scheme will be got listed on the National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd subject to the compliance of the listing requirements. The draft scheme of demerger as approved by the Board is subject to the approval of the Stock Exchanges, shareholders, High Court of Gujarat at Ahmedabad and such other authorities/parties as may be required. (As per NSE Bulletin dated on 13/02/2006) Sun Pharmaceutical Industries Ltd has informed BSE that pursuant to the order made by the Hon'ble High Court of Gujarat at Ahmedabad: 1. A meeting of the equity shareholders of the Company will be held on June 06, 2006, for the purpose of considering and if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement between the Company and the equity shareholders of the Company in the nature of demerger and transfer of Innovative Research and Development Business of the Company to Sun Pharma Advanced Research Company Ltd. 2. A meeting of the preference shareholders of the Company will be held on June 06, 2006, for the purpose of considering and if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement between the Company and the preference shareholders of the Company in the nature of demerger and transfer of Innovative Research and Development Business of the Company to Sun Pharma Advanced Research Company Ltd. 3. A meeting of the FCCB holders of the Company will be held on June 06, 2006, for the purpose of considering and if thought fit, approving with or without modification(s), the arrangement embodied in the Scheme of Arrangement between the Company and the FCCB holders of the Company in the nature of demerger and transfer of Innovative Research and Development Business of the Company to Sun Pharma Advanced Research Company Ltd. (As per BSE Bulletin dated on 10/05/2006) Sun Pharmaceutical Industries Ltd has informed BSE that the Hon'ble High Court of Gujarat, at Ahmedabad at its hearing held on March 01, 2007 approved the Scheme of Arrangement between the Company and Sun Pharma Advanced Research Company Ltd (SPARC) in the nature of demerger and transfer of Innovative Research and Development (including New Drug Delivery Systems) Business / Unit of the Company to SPARC with appointed date of February 28, 2007. Further the Company has informed that, the certified copy of the order dated March 28, 2007 of the Hon'ble High Court has been filed electronically by the Company & SPARC with the Registrar of Companies on March 29, 2007. (As Per BSE Announcement Website Dated on 30/03/2007) SUB. :- Scheme of Arrangement of Sun Pharmaceutical Industries Ltd. (Scrip Code 524715) Trading members of the Exchange are hereby informed that, Sun Pharmaceutical Industries Ltd. has fixed the Record Date for the purpose of determining entitlement to the shareholders of the company pursuant to the Scheme of Arrangement of the company. COMPANY NAME CODE Sun Pharmaceutical Industries Ltd. 524715 & 624715 RECORD DATE 30/04/2007 EX-ENTITLEMENT DATE 23/04/2007 DR-017/2007-2008 PURPOSE Scheme of Arrangement: - Demerger and transfer of Innovative Research and Development (Including New Drug Delivery System) Business/Unit (Demerged Unit) of Sun Pharmaceutical Industries Ltd. to Sun Pharma Advanced Research Company Ltd. (SPARC). In consideration of the demerger including the transfer and vesting of the Demerged Unit of the company, SPARC will issue in the ratio of ONE equity share of Re.1/- each credited as fully paid up of SPARC for every ONE Equity Share of Rs.5/- each held in Sun Pharmaceutical Industries Ltd. The scrip will be No Delivery from 23/04/2007 (DR-017/2007-2008) to 27/04/2007 (DR-021/2007-2008). (As per BSE Notice dated on 03/04/2007) Trading Members of the Exchange are hereby informed that the under-mentioned securities of Sun Pharma Advanced Research Company Limited are listed and permitted for trading with effect from Wednesday, July 18, 2007. Name of the Company : Sun Pharma Advanced Research Company Limited (SPARC) Registered Office : SPARC, Akota Road, Vadodara, Gujarat - 390 020 Tel. No. 0265 - 2330815 Fax No. 0265 - 2354897 Email: sunil.ajmera@sparcmail.com Web: www.sunpharma.in Corporate office: 17/B, Mahal Industrial Estate, Mahakali Caves Road, Andheri (E), Mumbai - 400 093 Securities : 19,43,61,862 Equity shares of Re.1/- each fully paid-up issued to the shareholders of Sun Pharmaceutical Industries Ltd. ('SPIL') pursuant to the scheme of arrangement of the Company. Distinctive numbers : As annexed Scrip Code : 532872 Group : B1 Group Market Lot : 1 Share Face Value : Re.1/- each fully paid Scrip ID on BOLT System : SPARC Abbreviated name on BOLT System : SUNPHA ADV ISIN No. : INE232I01014 2. Trading members may please note that 1,070 equity shares of the Company, bearing distinctive nos. 40947429 to 40948498 are under lock-in till September 30, 2008 and therefore these shares would not be good delivery in the market till then. The company has confirmed that these equity shares are held in physical format and the relevant share certificates have been enfaced with a stamp regarding its non-transferability. 3. The particulars of the Scheme of Demerger / Arrangement are as mentioned below: a) The Scheme of Demerger/Arrangement of the Company was approved by the Hon'ble High Court of Gujarat vide it's order dated March 1, 2007. b) Appointed Date: March 29, 2007 c) Effective Date: February 28, 2007 d) The issued, subscribed and paid-up capital of the company pre scheme of arrangement was Rs.5.00 lacs consisting of 5,00,000 Equity Shares of Re.1/- each fully paid up. e) Pursuant to the Scheme of Arrangement between Sun Pharmaceutical Industries Ltd., ('SPIL'), Sun Pharma Advanced Research Company Limited ('SPARC') and their respective shareholders and creditors, the 'research division' of SPIL got demerged and vested in SPARC on a going concern basis and in consideration thereof, SPARC issued and allotted 19,44,18,898 equity shares of Re.1/- each fully paid up to the shareholders of SPIL on May 05, 2007, in the ratio of 1 (One) Equity share of Re.10/- each fully paid-up for every 1 (one) equity shares of Rs.5/- each held in SPIL. f) The issued, subscribed and paid-up capital of the company post scheme of arrangement comes to Rs.1944.18898 lacs consisting of 19,44,18,898 Equity Shares of Re.1/- each fully paid up. 4. As per Exchange Notice No. 20070403-19 dated April 03, 2007, SPIL had fixed April 30, 2007 as 'Record Date', for giving effect to the Scheme of arrangement and accordingly dealing in the equity shares of SPIL was done on ex-entitlement basis with effect from April 23, 2007. 5. The Information Memorandum containing all the information about the company can be viewed at http://www.bseindia.com/ipo/schema.asp or on the Company's Website on http://www.sunpharma.in 6. The share transfer documents should be sent to the registrar of the company at the address mentioned below: M/s. Intime Spectrum Registry Limited Unit: Sun Pharma Advanced Research Company Ltd. C-13, Pannalal Silk Mills Compound, L.B.S. Marg, Mulund (W), Mumbai - 400 078 Tel Nos. 022- 25963838 Fax No. 022 - 25946969 7. The Company's Financial Year ends on 31st March (As per BSE Notice dated on 16/07/2007) In continuation of the ExchangeÆs Notice No. 20070716-20 dated the July 16, 2007, trading members of the Exchange are hereby informed that they should read the ratio as 1 (one) equity share of Re.1 each fully paid-up for every 1 (one) equity share of Rs.5 each held in SPIL not as mentioned in the aforesaid notice. (As per BSE Notice dated on 17/07/2007) Sun Pharma Advanced Research Company Ltd has informed BSE that pursuant to clause 10.2 of the Scheme of Arrangement for Demerger sanctioned by the Honourable High court of Gujarat vide its order dated March 01, 2007 issued on March 28, 2007 and as per the Supplementary Trust Deed dated May 18, 2007, entered into by the Company with Sun Pharmaceutical Industries Ltd and Citicorp Trustee Co. Ltd., the Foreign Currency Convertible Bond holders of Sun Pharmaceutical Industries Ltd (SPIL), are entitled to One Equity Share of Re 1/- each of the Company for every Equity Share of Rs 5/- each of SPIL allotted to them on exercise of conversion option of Foreign Currency Convertible Bonds (FCCBs) of US$ 1000 each held by them. Accordingly, the Committee of Directors (Allotment) of the Company at its meeting held on March 01, 2008 has allotted 31,20,084 (Thirty One Lacs Twenty Thousand Eighty Four) Equity Shares of Re 1/- each to the bondholders of SPIL upon exercise of option of conversion for 50,555 Zero Coupon Foreign Currency Convertible Bonds of US$ 1000 each (FCCB) of SPIL held by them. Consequently, the paid up Equity Share Capital of the Company has increased from 20,14,77,473 Equity Shares of Re 1/- each to 20,45,97,557 Equity Shares of Re 1/- each, as of date. (As per BSE Announcement Website dated on 03/03/2008)