MEMORANDUM AND ARTICLES OF ASSOCIATION …...1 THE COMPANIES ACT, 2013 MEMORANDUM OF ASSOCIATION OF...

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MEMORANDUM

AND

ARTICLES OF ASSOCIATION

OF

ALEMBIC PHARMACEUTICALS LIMITED

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THE COMPANIES ACT, 2013MEMORANDUM OF ASSOCIATION

OFALEMBIC PHARMACEUTICALS LIMITED

(COMPANY LIMITED BY SHARES)

I The name of the Company is ALEMBIC PHARMACEUTICALS LIMITED1.

II TheRegisteredOfficeoftheCompanywillbesituatedintheStateofGujarat.

(A) TheobjectstobepursuedbytheCompanyonitsincorporationareasunder:1 To manufacture, sale, purchase, deal in various pharmaceuticals products, bulk drugs,

medicines, chemicals, raw materials, intermediates for various pharmaceutical productsandtoengageinbusinessofhealthcares,lifesciences,researchanddevelopment,contractmanufacturinginIndiaand/orabroad.

2 Tomanufacture,process,produce,assemble,distribute,buy,sell,import,exportanddealinpharmaceuticals,drugs,chemicals,medicines,rawmaterials,intermediates,vaccines,tonics,enzymes, steroids, vitamins, hormones, antibiotics, antiseptics, disinfectants, veterinarymedicines, poultry medicines, herbal products, their by-products, intermediates, residues,mixtures,compounds,preparations,cosmetics,pesticides,medicinalcomponents,injections,dyewares, cordials, liquors, restoratives, acids, surgical preparations,medical equipments,surgicalequipmentsandotherrelatedequipments,usedinalltherapiesofmedicaltreatmentandtheotherlifesavingequipmentsapparatusandmedicinalequipmentsandtoengageinthebusinessofHealthcare,lifesciences,researchanddevelopment,contractmanufacturingetc.inIndiaand/orabroad.

(B) MatterswhicharenecessaryforfurtheranceoftheobjectsspecifiedinClauseIII(A)areasunder:

1 To act as agents, distributors, stockists, retailers, wholesellers, chemists, merchants andrepresentatives of any pharmaceutical companies, multinational companies, corporationsor undertakings in India or abroad and to represent all or any of them as their approvedrepresentatives and agents in any hospitals, dispensaries, medical institutions, clinics,diagnosticscentres,polyclinicsand/orchemists,doctorsandothermedicalprofessionalsforsales,promotionofalloranyoftheitemsmentionedaboveinIndiaand/orabroad.

2. Toacquireandundertakewholeoranypartofthebusiness,goodwillandassetsofanypersonfirmorcompanycarryingonorproposingtocarryonanyofthebusinesseswhichthisCompanyisauthorizedtocarryonandaspartoftheconsiderationforsuchacquisitiontoundertakealloranyoftheliabilitiesofsuchpersons,firmandtoacquireaninterestinamalgamatewithorenterintoanyagreementforsharingprofitsorforliabilities,competitionofformutualassistancewithanysuchperson,firmorcompanyandtogiveoracceptbywayofconsiderationforanyofthefacts,thingsaforesaidtoacquirepropertyandshares,debentures,stockorsecuritiesthatmaybeagreeduponandtoholdandretainandtosell,mortgageanddealwithanyshare,stockorsecuritiessoreceived.

3. Toacquirebypurchase, lease,exchangeorotherwiseanymovableor immovablepropertyandany rightsorprivilegeswhich theCompanymay thinknecessaryorconvenient for thepurposeofitsbusinessandeithertoretainthesameorturnthesametoaccount,asmayseemexpedient.

4 Toenter intopartnershipor intoanyarrangement forsharingprofits,unionof interest, jointventure, reciprocal concession or co-operation with persons or companies carrying on orengagedinanybusinessortransactionwhichthisCompanyisauthorisedtocarryon.

__________________________________________________________________________

1ClauseIupto12thMarch,2011:ThenameoftheCompanyisALEMBICPHARMALIMITED.

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5. Tovestanymovableor immovableproperty, rightsor interestsacquiredbyor receivedorbelongingtotheCompanyinanypersonorpersonsorcompanyonbehalfoforforthebenefitoftheCompanyandwithorwithoutanydeclaredtrustinfavouroftheCompany.

6. To purchase or otherwise acquire, construct, carry out, equip, maintain, alter, improve,develop,manage,work,sell,letonhire,dealin,controlandsuperintendanyfactories,plants,warehouses,workshops,sheds,dwellings,offices,shops,stores,buildings,telephones,electricandgasworks,powerplants,roadways,tramways,railways,bridges,reservoirs,waterhousesandallkindsofworks,machinery,apparatus,labourlines,andhouses,warehouse,furnaces,crushingworksandotherworksandconveniencesnecessaryforcarryingonanyoftheabovespecifiedbusiness.

7. Toacquireandtakeoverthewholeoranypartofthebusiness,goodwill,trade-marks,propertiesand liabilitiesofanypersonorpersonsfirms,companiesorundertakings,eitherexistingornew,engaged inorcarryingonorproposingtocarryonanybusinesswhichthisCompanyisauthorisedtocarryonpossessedofanypropertyonrightssuitableforthepurposeoftheCompanyandtopayforthesameeitherincashorinsharesorpartlyincashandpartlyinsharesorotherwise.

8. ToundertakeorpromotescientificresearchrelatingtoanybusinessorclassofbusinessinwhichtheCompanyisinterested.

9. To negotiate and enter into agreements and contracts with Indian and foreign individuals’companies,corporationsandotherorganisationsfortechnical,financialoranyotherassistanceforcarryingoutalloranyoftheobjectsoftheCompanyorforthepurposeofactivatingresearchanddevelopmentofmanufacturingprojectsonthebasisofknow-how,financialparticipationortechnicalcollaborationandacquirenecessaryformulaandpatentrightsforfurtheringtheobjectsoftheCompany.

10. SubjecttoSection230to234oftheCompaniesAct,2013,toamalgamate,mergeanyothercompany or companieswith theCompany ormerge, demergewith any other company orcompanieshavingalloranyoftheirobjectssimilartotheobjectsofthiscompanyorotherwise,inanymanner,whetherwithorwithouttheliquidationoftheCompany.

11. Tosell,disposeofortransferthebusiness,propertyandundertakingoftheCompanyoranypartthereofforanyconsiderationwhichtheCompanymaydeemfittoacceptandinparticularforshares,debenturestock,bondsorsecuritiesoranyothercompanyhavingobjectsaltogetherdifferentorinpartdifferentorsimilartothoseofthisCompany.

12. Subject to any law for the time being in force, to undertake or take part in the formation,supervisionorcontrolofthebusinessoroperationsofanyperson,firm,bodycorporate,association,undertakingcarryingonanybusinesswhichthisCompanyisauthorisedtocarryon.

13. To apply for, obtain, purchase or otherwise acquire and prolong and renew any patents,patent-rights,process,tradesecrets,scientificortechnicalorotherassistance,manufacturingprocess,know-howandotherinformation,designs,patterns,copyrights,trade-marks,licences,concessionsandthelikerightsorbenefits,conferringanexclusiveornon-exclusiveorlimitedorunlimitedrightofusethereof,whichmayseemcapableofbeingusedfororinconnectionwithanyoftheobjectsoftheCompanyortheacquisitionoruseofwhichmayseemconciliateddirectlyorindirectlytobenefittheCompanyonpaymentofanyfee,royaltyorotherconsiderationandtouse,exerciseordevelopthesameandunderorgrant licences inrespect thereoforsell or otherwisedealwith the sameandexpendmoney in experimentingupon, testingorimprovinganysuchpatents,inventions,rightsorconcessions.

14. To apply for and obtain any charter, privilege, concession, licence or authorisation of anyGovernment,StateorotherAuthorityforenablingtheCompanytocarryanyofitsobjectsintoeffectorforextendinganyofthepowersoftheCompanyorforeffectinganymodificationoftheconstitutionof theCompanywhichmayseemexpedientandtoopposeanyproceedingorapplicationswhichmayseemexpedientorcalculateddirectlyorindirectlytoprejudicetheinterests of the Company.

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15. ToenterintoanyarrangementswithanyGovernmentorAuthoritiesoranypersonsorcompaniesthatmayseemconducivetotheobjectsoftheCompanyoranyofthemandtoobtainfromanysuchGovernment,Authority,personorcompanyanyrights,charters,contracts,licencesandconcessionswhichtheCompanymaythinkitdesirabletoobtainandtocarryoutandexerciseandcomplytherewith.

16. Toprocure theCompany tobe registeredor recognised inorunder the lawsofanyplaceoutsideIndiaandtodoallactsnecessaryforcarryingoninanyforeigncountryanybusinessor profession of the Company.

17. Todraw,make,accept,discount,executeandissuebillsofexchange,promissorynotes,billsoflading,warrants,debenturesandothernegotiableortransferableinstrumentsorsecuritiesandtoopenBankAccountsofanytypeandtooperatethesameintheordinarycourseofbusiness.

18. Tolendmoney,eitherwithorwithoutsecurity,andgenerallytosuchpersonsanduponsuchtermsandconditionsastheCompanymaythinkfitandalsotoinvestanddealwiththemoneysoftheCompany,notimmediatelyrequired,inoruponsuchinvestmentandinsuchmannerasmayfromtimetotimedetermined,notbeinginvestmentinCompany’sownsharesprovidedthat the Company shall not carry on the business of banking as provided in the BankingRegulationsAct,1949.

19. SubjecttoSection71,73,179and180oftheCompaniesAct,2013readwithrulesframedthereunderandthedirectionsissuedbyReserveBankofIndia,toreceivemoneyondepositsorloansandtoborroworraisemoneyinsuchmannerandatsuchtimesortimesastheCompanythinksfitandinparticularbytheissueofdebentures,debenture-stock,perpetualorotherwiseandtosecuretherepaymentofanymoneyborrowed,raisedorowingbymortgage,chargeorlienuponalloranyofthepropertiesorassetsorrevenuesandprofitsoftheCompany,bothpresentandfuture,includingitsuncalledcapitalandalsobyasimilarmortgage,chargeorlientosecureandguaranteetheperformancebytheCompanyoranyotherpersonsorcompanyobligation undertakenby theCompanyof suchother personsor companyand to give thelendersthepowertosellandotherpowersasmayseemexpedientandtopurchase,redeemorpayoffanysuchsecurities.

20. Toundertakeandexecuteany trusts, theundertakingofwhichmayseemto theCompanydesirable,eithergratuitouslyinconnectionwiththebusinessoftheCompany.

21. Toestablishorpromoteorconcurinestablishingorpromotinganycompanyforthepurposeofacquiringalloranyoftheproperties,rightsandliabilitiesoftheCompany.

22. SubjecttotheSection180oftheCompaniesAct,2013,tosell,lease,mortgage,exchange,grantlicencesandotherrights,improve,manage,developandturntoaccountanddealwithordisposeofundertaking,investments,assetsandeffectsoftheCompanyoranypartthereofforsuchconsiderationasmaybethoughtfitandinparticularforanyshares,stocks,debenturesorothersecuritiesofanyothercompanyhavingobjectsaltogetherorinpartsimilartothoseofthe Company.

23. TodistributeamongthemembersinspecieorotherwiseanypropertyoftheCompanyoranyproceedsofsaleordisposalofanypropertyoftheCompanyintheeventofwindingup.

24. TodistributeasbonusSharesamongthemembersortoplacetoreserveorotherwisetoapply,astheCompanymayfromtimetotimethinkfit,anymoneysreceivedbywayofpremiumondebenturesorothersecuritiesissuedatapremiumbytheCompanyandanymoneysreceivedinrespectofdividendsaccruedonforfeitedsharesandmoneysarisingfromthesalebytheCompanyofforfeitedshares,subjecttotheprovisionsoftheCompaniesAct,2013.

25. Toemployagentsorexpertstoinvestigateandexamineintotheconditions,prospects,value,characterandcircumstancesofanybusiness,concernsandundertakingsandgenerallyofanyassets,propertiesorrightswhichtheCompanyproposestoacquire.

26. Toacceptgifts,asanawardfromGovt.orsemiGovt.bodies,bequests,devisesordonationsof anymovable or immovable property or any rights or interests therein frommembers orothers.

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27. Tocreateanyreservefund,sinkingfund,insurancefundoranyotherspecialfundswhetherfordepreciation,repairing,improving,research,extendingormaintaininganyofthepropertiesoftheCompanyconducivetotheinterestsoftheCompany.

28. SubjecttotheprovisionsoftheSection181and182oftheCompaniesAct,2013tosubscribe,contribute,giftordonateanymoneys,rightsorassetsforanynational,educational,religious,charitable,scientific,public,generalorusefulobjectsortomakegiftsordonationsofmoneysor other assets to any institutions, clubs, societies, associations, trusts, scientific researchassociations, funds, universities, colleges or any individual, body of individuals or bodiescorporate.

29. Toestablishandmaintainorprocuretheestablishmentandmaintenanceofanycontributoryornon-contributorypensionsorsuperannuation,providentorgratuityfundsforthebenefitofandgiveorprocure thegivingof thedonations,gratuities,pensions,allowances,bonusoremolumentstoanypersonswhoareorwereatanytimeintheemploymentorserviceofthecompanyoranycompanywhichisasubsidiaryoftheCompanyorisalliedtoorassociatedwiththeCompanyorwithanysuchsubsidiarycompanyorwhoareorwereatanytimeDirectorsorofficersoftheCompanyoranyothercompanyasaforesaidandthewives,widows,familiesanddependentsofanysuchpersonsandalsotoestablishandsubsidiseandsubscribetoanyinstitution,associations,clubsor fundscalculatedtobefor thebenefitofor toadvancetheinterestsaswell-beingoftheCompanyoranysuchothercompanyorpersonsasaforesaidandtodoanyofthemattersaforesaid,eitheraloneorinconjunctionwithanysuchothercompanyas aforesaid.

30. ToestablishforanyoftheobjectsoftheCompany,branchesorestablishanyfirmorfirmsatplacesinoroutsideIndiaastheCompanymaythinkfit.

31. TopayforanypropertyorrightsacquiredbyorforanyservicesrenderedtotheCompanyandinparticulartoremunerateanyperson,firmorcompanyintroducingbusinesstotheCompanyeither incashor fullyorpartly-paidupshareswithorwithoutpreferredordefferedrights inrespectofdividendorrepaymentofcapitalorotherwiseorbyanysecuritieswhichtheCompanyhaspowertoissueorbythegrantofanyrightsoroptionsorpartlyinonemodeandpartlyinanotherandonsuchtermsastheCompanymaydetermine.

32. TopayoutofthefundsoftheCompanyallcosts,chargesandexpensesofandincidentaltotheformationandregistrationoftheCompanyandanycompanypromotedbytheCompanyandalsoallcosts,charges,duties,impositionsandexpensesofandincidentaltotheacquisitionbythe Company of any property or assets.

33. Tosendout to foreigncountries itsdirector,employeesoranyotherpersonorpersons forinvestigatingpossibilitiesofanybusinessortradeforprocuringandbuyinganymachineryorestablishingtradeconnectionsorforpromotingtheinterestsoftheCompanyandtopayallexpensesincurredinconnectiontherewith.

34. TocompensateforlossofofficeofanyManagingDirectororDirectorsorotherofficersoftheCompanywithinthelimitationsprescribedundertheCompaniesAct,2013orotherstatutesorruleshavingtheforceoflawandtomakepaymentstoanypersonwhoseofficeoremploymentordutiesmaybedeterminedbyvirtueofanytransactioninwhichtheCompanyisengaged.

35. Toagreetorefertoarbitrationanydisputes,presentorfuture,betweentheCompanyandanyothercompany,firm,individualoranyotherbodyandtosubmitthesametoarbitrationinIndiaorabroadeitherinaccordancewithIndianoranyforeignsystemoflaw.

36. To appoint agents, subagents, dealers, managers, canvassers, sales representatives orsalesmanfortransactingalloranykindofbusinesswhichthisCompanyisauthorisedtocarryonandtoconstituteagenciesoftheCompanyinIndiaorinanyothercountrywhatsoeverandtoestablishdepotsandagenciesindifferentpartsoftheworld.

37. Toguaranteetheperformanceofcontractsundertakenbypersons,firmsorcompaniescarryingonorauthorisedtocarryonanybusinessorbusinesseswhichthiscompanyisauthorisedtocarryonandtoguaranteethepaymentofliabilitiesofanysuchpersons,firmsorcompanies.

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38. Toguaranteethepaymentofmoneyunsecuredorsecuredbyorpayableunderorinrespectof promissory notes, bonds, debentures, debenture stock, contracts, mortgages, charges,obligations,instruments,andsecuritiesofanycompanyorofanyauthority,supreme,municipal,local,orotherwiseorofanypersonswhomsoeverwhetherincorporatedornotincorporatedandgenerallytoguaranteeorbecomesuretiesfortheperformanceofanycontractsorobligationsinconnectionwiththebusinessofthecompany.

39. Toinvestinotherthaninvestmentincompany’sownsharesanymoneyoftheCompanyinsuchinvestment(otherthansharesorstockintheCompany)asmaythoughtproperandtohold,sellorotherwisedealwithsuchinvestment.

40. Toestablish,provide,maintainandconductresearchandotherlaboratoriestrainingcolleges,schools,andotherinstitutionforthetraining,educationandinstructionofstudentsandotherwhomaydesiretoavailthemselvesofthesameandtoprovideforthedeliveryandholdingoflectures,demonstration,exhibitions,classes,meetingsandconferencesinconnectiontherewith.

41. Tocarryoneithersolelyorinpartnershipwithothercompanies,corporations,bodycorporate,firmorindividualsallagencybusinessandtorenderservicestoortoundertakeortakepartinthesupervisionorcontrolofthebusinessoroperationofanyperson,firm,bodycorporate,company, association or other undertaking and to act asAgents,Advisers,Consultants ofsuchperson,firm,bodycorporate,company,associationandforsuchpurposeorpurposestoappointandremunerateanyofficersofthecompany,accountantsorotherexpertsoragentsinconnectionwiththebusinessoftheCompany.

42. ToadoptsuchmeansofmakingknowntheproductsoftheCompanyasmayseemexpedientandinparticularbyadvertisinginthepressbycirculars,bypurchaseandexhibitionofworksofartorinvestbypublicationofbooksandperiodicalsandbygrantingprizes,rewardsanddonations.

43. ToapplytheassetsoftheCompanyinanywayinortowardstheestablishment,maintenanceorextensionsofanyassociation,institutionorfundinanywayconnectedwithanyparticulartrade,orbusinessorwithtradeorcommercegenerallyandparticularlywiththetrade,includinganyassociation, institutionor fund for theprotectionof the interestofmasters,ownersandemployers,against lossbybaddebts,strikes,combinations,fire,accidentsorotherwiseorfor thebenefitoranyclerks,workman,orothersatany timeemployedby theCompanyorany of its predecessors in business or their families or dependents andwhether or not incommonwithotherpersonsorclassesofpersonsandinparticularfriendly,cooperativeandothersocietiesreadingrooms,Libraries,educationalandcharitableinstitutions,refractories,dinningandrecreationrooms,churches,chapels,schoolsandhospitalsandtograntgratuities,pensionsandallowancesandtocontributetoanyfundsraisedbypublicorlocalsubscriptionsforanypurposewhatsoever.

44. Toaid,pecuniarilyorotherwise,anyassociation,bodyormovementhaving foranobjects thesolutionorsettlementsofindustrialorlabourproblemortroublesorthepromotionofindustryortrade.

45. ToassistanyothercompanyfallingunderSection185oftheCompaniesAct,2013orstatutorymodificationthereof,includingbywaythegivingofloansandguaranteesortheprovidingofsecuritiesofanykindwhatsoeverinconnectionwithanyloangiventothelatterbyanyperson,firmorbodycorporate.

46. Toinstituteanddefendanysuit,appeal,applicationforrevieworrevisionoranyotherapplicationofanynaturewhatsoever, to takeoutexecutions, toenter intoagreementsof reference toarbitrationandtoenforceandwhereneedbetocontestanyawardsandforallsuchpurposetoengageorretaincounsels,attorneysandagentsandwhennecessarytoremovethem.

47. Todoalloranyoftheabovethings,eitherasprincipals,agents,trustees,contractorsorotherwiseandeitheraloneorinconjunctionwithothers,andeitherbyorthroughagents,sub-contractors,trusteesorotherwiseinconnectionwiththebusinessoftheCompany.

IV Theliabilityofmembersislimited.

V “TheAuthorisedShareCapitalof theCompany isRs.40,00,00,000/-(RupeesFortyCroresonly)dividedinto20,00,00,000(TwentyCrores)equitysharesofRs.2/-(RupeesTwo)each.”

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Wetheseveralpersons,whosenamesandaddressesaresubscribedhereunder,aredesirousofbeingformedintoaCompanyinpursuanceofthisMemorandumofAssociationandwerespectively,agreetotakethenumberofsharesintheCapitaloftheCompanyassetoppositetoourrespectivenames

Sl.No.

NameandAddresses,DescriptionandOccupationofSubscriberswith

theirSignatures

NumberofEquitySharestakenbyeach

Subscriber

Signature,Name,Address,DescriptionandOccupationof

thewitness1. ChirayuR.Amin

Chairman&ManagingDirector ForAlembicLimited AlembicRoad, Vadodara 390003 Occupation:PublicLtd.Company

Sd/-

2,49,994(TwoLacsForty

NineThousandNineHundredNinetyFour)

Witnesstosignaturesofall(ie.,1to7)

Sd/-

SanjayS.B

hatt

SonofS

hriSukhdevO.B

hatt

B1/102,PalitirthApartm

ent,

Subhanpura,Vadodara-390023

Occupation:S

ervice

Place:V

adodara

Date:27/05/2010

2. ChirayuR.Amin SonofRamanbhaiB.AminF-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-

1 (one)

3. MalikaC.Amin WifeofChirayuR.AminF-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-

1 (one)

4. PranavAmin SonofChirayuR.Amin F-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-

1 (one)

5. ShaunakC.Amin SonofChirayuR.Amin F-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-

1 (one)

6. Udit C. Amin SonofChirayuR.Amin F-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-

1 (one)

7. Mr.RajkumarShreeramBaheti S/oShreeramBaheti FlatNo.402,SampratResidency, 52,AlkapuriSociety, Alkapuri,Vadodara–390003 Occupation:Service

Sd/-

1 (one)

Total 2,50,000(TwoLacsFiftyThousand)

Place:VadodaraDate:27/05/2010

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THE COMPANIES ACT, 2013ARTICLES OF ASSOCIATION

OFALEMBIC PHARMACEUTICALS LIMITED

(COMPANY LIMITED BY SHARES)

ThefollowingregulationscomprisedintheseArticlesofAssociationwereadoptedpursuanttotheSpecialResolutionpassedbytheMembersoftheCompanyattheAnnualGeneralMeetingoftheCompanyheldon27thJuly,2018insubstitutionforandtotheentireexclusionof,theregulationscontainedintheexistingArticlesofAssociationoftheCompany.

PRELIMINARY

1. TableFnottoapply TheregulationscontainedinTable‘F’intheScheduleItotheCompaniesAct,2013shallnot

applytotheCompany,exceptinsofarasthesamearerepeated,containedorexpresslymadeapplicableintheseArticlesorbythesaidActandtheRulesmadethereunder.

TheCompanyshallbegovernedbytheseArticles. TheregulationsforthemanagementoftheCompanyandfortheobservancebythemembers

theretoandtheirrepresentatives,shall,subjecttoanyexerciseofthestatutorypowersoftheCompanywithreferencetothedeletionoralterationoforadditiontoitsregulationsbyresolutionasprescribedorpermittedbytheCompaniesAct,2013,besuchasarecontainedintheseArticles.

INTERPRETATION

2. InterpretationClause i. IntheinterpretationoftheseArticles,thefollowingwordsandexpressionsshallhavethe

followingmeaningsunlessrepugnanttothesubjectorcontext: (a) “Act”meanstheCompaniesAct,2013andincludeanystatutorymodificationorre-

enactmentthereofforthetimebeinginforceandanypreviousCompanyAct,sofarasmaybeapplicable.

(b) “Articles”meanstheseArticlesofAssociationof theCompanyorasalteredfromtime to time.

(c) “Auditors”meansandincludesthosepersonsappointedassuchforthetimebeingof the Company.

(d) “Board”or“BoardofDirectors”meanstheBoardofDirectorsoftheCompanyortheDirectorscollectively.TheBoardofDirectorsshallincludeCommitteesoftheBoardmade thereon.

(e) “Charge”meansaninterestorliencreatedonthepropertyorassetsofaCompanyoranyofitsundertakingsorbothassecurityandincludesamortgage.

(f) “Capital”meansthesharecapitalforthetimebeingraisedorauthorizedtoberaisedforthepurposeoftheCompany.

(g) “Chairman”or“Chairperson”meanstheChairmanorChairpersonoftheBoardofDirectorsforthetimebeingoftheCompany.

(h) “TheCompany”or“ThisCompany”meansAlembicPharmaceuticalsLimited. (i) “Director”meansadirectorappointedtotheBoardoftheCompany. (j) “Debenture”includesdebenture-stock,bondsoranyothersecuritiesofaCompany

evidencingadebt,whetherconstitutingachargeontheassetsoftheCompanyornot. (k) “Dividend”includesanyinterimdividend. (l) “ExecutororAdministrator”meansapersonwhohasobtainedProbateorLetterof

Administrator,asthecasemaybe,fromacompetentCourtandshallalsoinclude

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theholderofasuccessioncertificateauthorizingtheholderthereoftonegotiateortransfer theshareorsharesof thedeceasedmemberandshallalso include theholderofacertificategrantedbytheAdministratorGeneralofanyStateinIndia.

(m) “IndependentDirector”shallhavethemeaningascribedtoitintheAct. (n) “Key Managerial Personnel” means the chief executive officer or the managing

director;thecompanysecretary;whole-timedirector;chieffinancialofficer;andsuchotherofficerasmaybenotifiedfromtimetotimeintherules.

(o) “Legal Representative” means a person who in law represents the estate of adeceasedmember.

(p) “Month”meansacalendarmonth. (q) “Office”meanstheRegisteredOfficeforthetimebeingoftheCompany. (r) “Ordinary&SpecialResolution”shallhavethemeaningsassignedtotheseterms

bySection114oftheAct. (s) “Proxy”meansan instrumentunderwhichanyperson isauthorized tovote fora

memberatageneralmeetingonapollandincludesAttorneydulyconstitutedunderaPowerofAttorney.

(t) “Rules”means any rulemadepursuant toSection 469 of theAct or such otherprovisionspursuanttowhichtheCentralGovernmentisempoweredtomakerulesandshallincludesuchrulesasmaybeamendedfromtimetotime.

(u) “Secretary” is a KeyManagerial Person appointed by the Board of Directors toperformanyofthedutiesofaCompanySecretary.

(v) “ShareholdersorMembers”meansthedulyregisteredholderfromtimetotimeofthesharesoftheCompanyandshallincludebeneficialownerswhosenamesareenteredasabeneficialownerintherecordsofadepository.

(w) “Seal”meanstheCommonSealoftheCompany. (x) “Inwriting”or“written”meansandincludeswordsprinted,lithographed,represented

orreproducedinanymodeinavisibleform. ii. Unlessthecontextotherwiserequires,wordsorexpressionscontainedintheseArticles

shallbearthesamemeaningasintheActoranystatutorymodificationthereofinforce. iii. Wordsimportingthesingularnumberincludewherethecontextadmitsorrequiresthe

pluralnumberandviceversa. Wordsimportingthemasculinegendershallincludethefemininegenderandviceversa Wordsimportingpersonsshall,wherethecontextrequires,includesbodiescorporateand

companiesaswellasindividuals.

SHARE CAPITAL AND VARIATION OF RIGHTS3. Authorizedsharecapital TheAuthorizedShareCapitaloftheCompanyshallbeasperClauseVoftheMemorandum

ofAssociation.

4. SharesundercontrolofBoardofDirectors SubjecttotheprovisionsoftheActandtheseArticles,thesharesinthecapitaloftheCompany

shallbeunderthecontroloftheBoardwhomayissue,allotorotherwisedisposeofthesameoranyofthemtosuchpersons,insuchproportionandonsuchtermsandconditionsastheymayfromtimetotimethinkfit.

5. Newcapitalsameasoriginalcapital Except inso farasotherwiseprovidedby theconditionsof issueorby theseArticles,any

capitalraisedbythecreationofnewshares,shallbeconsideredaspartoftheexistingcapitalandshallbesubjecttotheprovisionshereincontainedwithreferencetothepaymentofcallsandinstallments,forfeiture,lien,surrender,transferandtransmission,votingandotherwise.

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6. Directorsmayallotsharesotherwisethanincash SubjecttotheprovisionsoftheActandtheseArticles,theBoardmayissueandallotsharesin

thecapitaloftheCompanyonpaymentorpartpaymentforanypropertyorassetsofanykindwhatsoeversoldortransferred,goodsormachinerysuppliedorforservicesrenderedtotheCompanyintheconductofitsbusinessandanyshareswhichmaybesoallottedorissuedasfullypaid-uporpartlypaid-upotherwisethanforcash,andifsoissued,shallbedeemedtobefullypaid-uporpartly-paidupshares,asthecasemaybe.

7. IssueandredemptionofPreferenceShares SubjecttotheprovisionsoftheActandRulesmadeinthisbehalf,theBoardshallhavepower

toissueorre-issuepreferencesharesofoneormoreclasseswhichareliabletoberedeemedorconvertedtoequityshares,onsuchtermsandinsuchmannerasdeterminedbytheBoardinaccordancewiththeAct.

8. IssueofSweatShares TheCompanymayissuesharesatdiscountedpricebywayofsweatequitysharesorinany

othermannerinaccordancewiththeprovisionsoftheActoranyotherapplicablelaw.

9. IssueofBonusShares TheCompanyingeneralmeetingmaydecidetoissuefullypaidupbonussharetothemember

ifsorecommendedbytheBoardofDirectors.

10. Furtherissueofsharecapital i. TheBoardortheCompany,asthecasemaybe,may,inaccordancewiththeActissue

furthersharesto: (a) personswho,atthedateofoffer,areholdersofequitysharesoftheCompany; UnlessotherwisedecidedbytheBoard,suchoffershallbedeemedtoincludearight

exercisablebythepersonconcernedorrenouncethesharesofferedtohimoranyoftheminfavourofanyotherperson;or

(b) employeesunderanyschemeofemployees’stockoption;or (c) anypersons,whetherornotthosepersonsincludethepersonsreferredtoinclause

(a)orclause(b)above. ii. A further issueofsharesmaybemade inanymannerwhatsoeveras theBoardmay

determineincludingbywayofpreferentialofferorprivateplacement,subjecttoandinaccordancewiththeActreadwithRulesmadethereunderandSEBIguidelines.

11. Issueoffurthersharesnottoaffectrightsofexistingmembers Therightsconferredupontheholdersofthesharesofanyclassissuedwithpreferredorother

rightsshallnot,unlessotherwiseexpresslyprovidedbythetermsofissueofthesharesofthatclass,bedeemedtobevariedbythecreationor issueoffurthersharesrankingparipassutherewith.

12. Applicationofpremiumsreceivedonissueofshares i. Where the Company issues shares at a premium, whether for cash or otherwise, a

sumequaltotheaggregateamountofthepremiumreceivedonthosesharesshallbetransferredtoa“securitiespremiumaccount”andtheprovisionsof theAct,relatingtoreductionofsharecapitaloftheCompanyshall,exceptasprovidedinthisArticle,applyasifthesecuritiespremiumaccountwerethepaid-upcapitaloftheCompany.

ii. Notwithstandinganythingcontainedinclause(i)above,thesecuritiespremiumaccountmaybeappliedbytheCompanyinaccordancewiththeprovisionsoftheAct.

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13. Variationofmembers’right i. If at any time the share capital is divided into different classes of shares, the rights

attachedtoanyclass(unlessotherwiseprovidedbythetermsofissueofthesharesofthatclass)may,subjecttotheprovisionsoftheAct,andwhetherornottheCompanyisbeingwoundup,bevariedwiththeconsentinwritingofsuchnumberoftheholdersoftheissuedsharesofthatclass,orwiththesanctionofaspecialresolutionpassedataseparatemeetingoftheholdersofthesharesofthatclass.

ii. To every such separate meeting, the provisions of these Articles relating to generalmeetingsshallmutatismutandisapply.

14. Trustnotrecognized i. Exceptasrequiredbylaw,nopersonshallberecognizedbytheCompanyasholding

anyshareuponanytrust,andtheCompanyshallnotbeboundby,orbecompelledinanywaytorecognize(evenwhenhavingnoticethereof)anyequitable,contingent,futureorpartialinterestinanyshare,oranyinterestinanyfractionalpartofashare,or(exceptonlyasbytheseregulationsorbylawotherwiseprovided)anyotherrightsinrespectofanyshareexceptanabsoluterighttotheentiretythereofintheregisteredholder.

ii. Sharemaybe registered in thenameofan incorporatedcompanyoranyotherbodycorporatebutnotinthenameofaminor(exceptincasewheretheyarefullypaid)orinthenameofapersonofunsoundmindorinthenameofanyfirmorpartnership.

15. Commissionforplacingshares i. TheCompanymayexercisethepowersofpayingcommissionsconferredbytheAct,to

anypersoninconnectionwiththesubscriptiontoitssecurities,providedthattheratepercentortheamountofthecommissionpaidoragreedtobepaidshallbedisclosedinthemannerrequiredbytheActandRulesmadethereunder.

ii. TherateoramountofthecommissionshallnotexceedtherateoramountprescribedintheAct.

iii. Thecommissionmaybesatisfiedbythepaymentofcashortheallotmentoffullyorpartlypaidsharesorpartlyintheonewayandpartlyintheother.

DEBENTURES

16. Anydebentures,debenture-stockorothersecuritiesmaybeissuedsubjecttotheprovisionsof theActand theseArticles,atadiscount,premiumorotherwiseandmaybe issuedwithanoptionthattheymaybeconvertibleintosharesofanydenominationandwithanyspecialprivilegesandconditionsastoredemption,surrender,drawing,allotmentofshares,attending(butnotvoting)atthegeneralmeetingandotherwise.DebentureswiththerighttoconversionintoorallotmentofsharesshallbeissuedonlywiththeconsentoftheCompanyinthegeneralmeetingbywayofaspecialresolution.

SHARE WARRANTS

17. Subject to theprovisionsof theAct, theCompanymay issuewith respect toany fullypaidshares,awarrant stating that thebearerof thewarrants isentitled to thesharesspecifiedthereinandmayprovidecouponsorotherwise,forpaymentoffuturedividendsonthesharesspecifiedinthewarrantsandmayprovideconditionsforregisteringmembership.

SubjecttotheprovisionsoftheAct,theCompanymayfromtimetotimeissuewarrantsnakedor otherwiseor issue couponsor other instrumentsandany combinationof equity shares,debentures,preferencesharesoranyotherinstrumentstosuchclassofpersonsastheBoardofDirectorsmaydeemfitwitharightattachedtotheholderofsuchwarrantsorcouponsorotherinstrumentstosubscribetotheequitysharesorotherinstrumentswithinsuchtimeandatsuchpriceastheBoardofDirectorsmaydecideaspertherulesapplicablefromtimetotime.

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18. Deposit of Share Warrant Thebearerofasharewarrantmay,atanytime,depositthewarrantattheofficeoftheCompany

andsolongasthewarrantremainssodeposited,thedepositorshallhavethesamerightofsigninga requisition forcallingameetingof theCompanyandofattendingandvotingandexercisingtheotherprivilegesofthememberatanymeetingheldaftertheexpiryoftwocleardaysfromthetimeofdeposit,asifhisnamewereinsertedintheRegisterofMembersastheholderoftheshareincludedinthedepositwarrant.

Notmorethanonepersonshallberecognizedasdepositorofthesharewarrant. TheCompanyshall, on twodays’writtennotice, return thedepositedsharewarrant to the

depositor.

19. Privilegesanddisabilitiesoftheholdersofsharewarrant Subjectashereinotherwiseexpresslyprovided,nopersonshallasbearerofasharewarrant,

signarequisitionforcallingameetingoftheCompanyorattendorvoteorexerciseanyotherprivilegesofamemberatameetingoftheCompanyorbeentitledtoreceiveanynoticefromthe Company.

ThebearerofasharewarrantshallbeentitledinallotherrespectstothesameprivilegesandadvantagesasifheisnamedintheRegisterofMembersastheHolderofthesharesincludedinthewarrantandheshallbeamemberoftheCompany.

ISSUE OF SHARE CERTIFICATES

20. ShareCertificates i. Every personwhose name is entered as amember in the register ofmembers shall

be entitled to receivewithin twomonths after incorporation, in caseof subscribers tothememorandum or after allotment or within onemonth after the application for theregistrationof transferor transmissionorwithinsuchotherperiodas theconditionsofissueshallbeprovided;

(a) onecertificateforallhisshareswithoutpaymentofanycharges;or (b) severalcertificates,each foroneormoreofhisshares,uponpaymentof twenty

rupeesforeachcertificateafterthefirst. ii. Everycertificateshallbeunderthesealandshallspecifythesharestowhichitrelates

andtheamountpaid-upthereon. iii. Inrespectofanyshareorsharesheldjointlybyseveralpersons,thecompanyshallnotbe

boundtoissuemorethanonecertificate,anddeliveryofacertificateforasharetooneofseveraljointholdersshallbesufficientdeliverytoallsuchholders.

21. Issueofnewcertificateinplaceofonedefaced,lostordestroyed Ifanysharecertificatebewornout,defaced,mutilatedortornoriftherebenofurtherspace

onthebackforendorsementoftransfer,thenuponproductionandsurrenderthereoftotheCompany, a new certificatemay be issued in lieu thereof, and if any certificate is lost ordestroyedthenuponproofthereoftothesatisfactionoftheCompanyandonexecutionofsuchindemnityastheBoarddeemadequate,anewcertificateinlieuthereofshallbegiven.EverycertificateunderthisArticleshallbeissuedonpaymentoftwentyrupeesforeachcertificate.

22. TheprovisionsoftheforegoingArticlesrelatingtoissueofcertificateshallmutatismutandisapplytoissueofcertificatesforanyothersecuritiesincludingdebentures(exceptwheretheActotherwiserequires)oftheCompany.

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LIEN

23. Company’slienonshares i. TheCompanyshallhaveafirstandparamountlien- (a) Oneveryshare(notbeingafullypaidupshare)forallmonies(whetherpresently

payableornot)calledorpayableatafixedtime,inrespectofthatshare;and (b) Onallshares(notbeingafullypaidupshares)standingregisteredinthenameofa

member,forallmoniespresentlypayablebyhimorhisestatetotheCompany: ProvidedthattheBoardofdirectorsmayatanytimedeclareanysharetobewhollyorin

partexemptfromtheprovisionsofthisclause. ii. TheCompany’slien,ifany,onashareshallextendtoalldividendspayableandbonuses

declaredfromtimetotimeinrespectofsuchshares.

24. Enforcinglienbysale TheCompanymay sell, in suchmanner as theBoard thinks fit, any shares onwhich the

Companyhasalien: Providedthatnosaleshallbemade- i. Unlessasuminrespectofwhichthelienexistsispresentlypayable;or ii. Untiltheexpirationofsuchperiod,asmaybespecifiedintheActorrulesmadethereunder,

afteranotice inwritingstatinganddemandingpaymentofsuchpartof theamount inrespectofwhichthelienexistsasispresentlypayable,hasbeengiventotheregisteredholderforthetimebeingoftheshareorthepersonentitledtheretobyreasonofhis/herdeathorinsolvency.

25. Procedureforenforcinglienbysale i. Togiveeffect toanysuchsale, theBoardmayauthorisesomepersonto transfer the

sharessoldtothepurchaserthereof. iii. Thepurchasershallbe registeredas theholderof thesharescomprised inanysuch

transfer. iii. Thepurchasershallnotbeboundtoseetotheapplicationofthepurchasemoney,nor

shallhis/hertitletothesharesbeaffectedbyanyirregularityorinvalidityintheproceedingsinreferencetothesale.

iv. Uponanysuchsaleasaforesaid,theexistingcertificate(s)inrespectofthesharessoldshallstandcancelledandbecomenullandvoidandofnoeffect,andtheDirectorsshallbeentitled to issueanewcertificate(s) in lieu thereof to thepurchaserorpurchasersconcerned.

26. Applicationofproceedsofsale TheproceedsofthesaleshallbereceivedbytheCompanyandappliedinpaymentofsuch

partoftheamountinrespectofwhichthelienexistsasispresentlypayable. Theresidue,ifany,shall,subjecttoalikelienforsumsnotpresentlypayableasexistedupon

thesharesbeforethesale,bepaidtothepersonentitledtothesharesatthedateofthesale.

27. TheprovisionsofforegoingArticlesrelatingtolienshallmutatismutandisapplytoanyothersecuritiesincludingdebenturesoftheCompany.

CALLS ON SHARES

28. BoardofDirectorsmaymakecall i. TheBoardmay,fromtimetotime,makecallsuponthemembersinrespectofanymonies

unpaidontheirshares(whetheronaccountofthenominalvalueofthesharesorbywayofpremium)andnotbytheconditionsofallotmentthereofmadepayableatfixedtimes:

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Providedthatnocallshallexceedone-fourthofthenominalvalueoftheshareorbepayableatlessthanonemonthfromthedatefixedforthepaymentofthelastprecedingcall.

ii. Eachmembershall,subjecttoreceivingatleastfourteendays’noticespecifyingthetimeortimesandplaceofpayment,paytothecompany,atthetimeortimesandplacesospecified,theamountcalledonhisshares.

iii. AcallmayberevokedorpostponedatthediscretionoftheBoard. iv. AcallshallbedeemedtohavebeenmadeatthetimewhentheresolutionoftheBoard

authorizingthecallwaspassedandmayberequiredtobepaidbyinstalments. v. Thejointholdersofashareshallbejointlyandseverallyliabletopayallcallsinrespect

thereof.

29. Wheninterestoncallorinstallmentspayable i. Ifasumcalledinrespectofashareisnotpaidbeforeoronthedayappointedforpayment

thereof,thepersonfromwhomthesumisdue,shallpayinterestthereonfromthedayappointedforpaymentthereoftothetimeofactualpaymentattheratenotexceedingfifteenpercentperannumoratsuchlowerrate,ifany,astheBoardmaydetermine.

ii TheBoardshallbeatlibertytowaivepaymentofanysuchinterestwhollyorinpart.

30. Amountpayableatfixedtimeorbyinstallmenttobetreatedascalls i. Anysumwhichbythetermsofissueofasharebecomespayableonallotmentoratany

fixeddate,whetheronaccountofthenominalvalueoftheshareorbywayofpremium,shall,forthepurposesoftheseArticles,bedeemedtobeacalldulymadeandpayableonthedateonwhichbythetermsofissuesuchsumbecomespayable.

ii. Incaseofnon-paymentofsuchsum,alltherelevantprovisionsoftheseArticlesastopaymentofinterestandexpenses,forfeitureorotherwiseshallapplyasifsuchsumhadbecomepayablebyvirtueofacalldulymadeandnotified.

31. Paymentinanticipationofcallsmaycarryinterest i. May,ifitthinksfit,receivefromanymemberwillingtoadvancethesame,alloranypart

ofthemoniesuncalledandunpaiduponanysharesheldbyhim;and ii. Uponall oranyof themoniessoadvanced,may (until thesamewould,but for such

advance,becomepresentlypayable)payinterestatsuchratenotexceeding,unlessthecompanyingeneralmeetingshallotherwisedirect,ninepercentperannum,asmaybeagreeduponbetweentheBoardandthememberpayingthesuminadvance.

iii. Moneysopaidinexcessoftheamountofcallsshallnotrankfordividends,orconferarighttoparticipateinprofitsorexercisevotingrights.TheDirectorsmayatanytimerepaytheamountsoadvancedupongivingtosuchmembernotlessthanthreemonths’noticeinwriting.

TRANSFER OF SHARES

32. Instrumentoftransfer i. SharesintheCompanyshallbetransferredinaccordancewiththeprovisionsofSection

56oftheActbyaninstrumentinwritingintheprescribedform. ii. Theinstrumentoftransferofanyshareinthecompanyshallbeexecutedbyoronbehalf

ofboththetransferorandtransferee. iii. The transferorshallbedeemed to remainaholderof theshareuntil thenameof the

transfereeisenteredintheregisterofmembersinrespectthereof.

33. Directorsmayrefusetoregistertransfer SubjecttotherightofappealasconferredbySection58oftheAct,theDirectors,may,attheir

ownabsoluteanduncontrolleddiscretionandwithoutassigninganyreasondeclinetoregisteroracknowledgeanytransferofsharesandinparticularmaysodeclineinanycaseinwhich

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theCompanyhaslienuponthesharesoranyofthemorwhilstanymoneysinrespectofthesharesdesired to be transferredor anyof them remainunpaid or unless the transferee isapprovedbytheDirectorsandsuchrefusalshallnotbeaffectedbythefactthattheproposedtransfereeisalreadyamember.ProvidedthatregistrationofatransfershallnotberefusedonthegroundsofthetransferorbeingeitheraloneorjointlywithanypersonorpersonsindebtedtotheCompanyonanyaccountwhatsoeverexceptalien.TheregistrationofatransfershallbeconclusiveevidenceoftheapprovaloftheDirectorsofthetransferee.

34. Conditionsfornotdecliningregistrationoftransfer TheBoardmaydeclinetorecogniseanyinstrumentoftransferunless- i. TheinstrumentoftransferisintheformasprescribedinRulesmadeundertheAct; ii. The instrument of transfer is accompaniedby the certificate of the shares towhich it

relates,andsuchotherevidenceastheBoardmayreasonablyrequiretoshowtherightofthetransferortomakethetransfer;and

iii. Theinstrumentoftransferisinrespectofonlyoneclassofshares.

35. Closureoftransferbooks,etc. Ongivingnotlessthansevendays’previousnoticeinaccordancewiththeprovisionsofthe

Actandrulesmadethereunder,theregistrationoftransfersmaybesuspendedatsuchtimesandforsuchperiodsastheBoardmayfromtimetotimedetermine.

Providedthatsuchregistrationshallnotbesuspendedformorethanthirtydaysatanyonetimeorformorethanforty-fivedaysintheaggregateinanyyear.

36. TheprovisionsoftheforegoingArticlesrelatingtotransferofsharesshallmutatismutandisapplytoanyothersecuritiesincludingdebenturesoftheCompany.

TRANSMISSION OF SHARES

37. Titleofsharesofdeceasedholder i. Onthedeathofamember,thesurvivororsurvivorswherethememberwasajointholder,

andhisnomineeornomineesorlegalrepresentativeswherehewasasoleholder,shallbetheonlypersonsrecognisedbythecompanyashavinganytitletohisinterestintheshares.

ii. Nothinginclause(i)shallreleasetheestateofadeceasedjointholderfromanyliabilityinrespectofanysharewhichhadbeenjointlyheldbyhimwithotherpersons.

iii. TheLegalRepresentativeoradministratorofadeceasedmemberorholderofasuccessioncertificate shall be the only persons recognised by the Company as having any titletohis/hersharesand theCompanyshallnotbebound to recognisesuchexecutororadministratororholderofasuccessioncertificateunlesssuchexecutororadministratorshallhavefirstobtainedprobate,lettersofadministrationorotherlegalrepresentationasthecasemaybefromadulyconstitutedcourtinIndia,orfromanyauthorityempoweredbyanylawtograntsuchotherlegalrepresentation;providedthatinanycasewheretheBoardintheirabsolutediscretionthinkfit,theBoardmaydispensewiththeproductionofProbateorLettersofAdministrationorotherlegalrepresentationandunderthenextArticleregisterthenameofanypersonwhoclaimstobeabsolutelyentitledtothesharesstandinginthenameofadeceasedmemberuponsuchtermsastoindemnityorotherwiseastheDirectorsmaydeemfit.

38. Registrationofpersonsentitledtoshareotherwisethanbytransfer(transmission) i. SubjecttotheprovisionoftheActandtheseArticles,anypersonbecomingentitledtoa

shareinconsequenceofthedeath,bankruptcyorinsolvencyofanymemberorbyanylawfulmeansotherthanbyatransfer inaccordancewiththesepresentsmaywiththeconsentsoftheDirectorswhichtheyshallnotbeunderobligationtogiveuponproducingsuchevidencethathe/shesustainsthecharacterinrespectofwhichhe/sheproposesto

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actunderthisArticleorofhis/hertitle,astheBoardmaythinksufficientandupongivingsuchindemnityastheDirectorsmayrequire.

ii. Anysuchpersonshallaftersendingnoticeinwriting,elect,either- (a) Toberegisteredhimselfasholderoftheshare;or (b) Tomakesuch transferof theshareas thedeceasedor insolventmembercould

havemade.

39. TheBoardshall, ineithercase,havethesamerighttodeclineorsuspendregistrationasitwouldhavehad, if thedeceasedor insolventmemberhad transferred thesharebeforehisdeathorinsolvency.

40. TheprovisionsoftheforegoingArticlesrelatingtotransmissionbyoperationoflawshallmutatismutandisapplytoanyothersecuritiesincludingdebenturesoftheCompany.

FORFEITURE OF SHARES

41. Ifcallorinstallmentnotpaid,noticemaybegiven Ifamember fails topayanycall,or instalmentofacall,on thedayappointed forpayment

thereof, theBoardmay, at any time thereafter during such time as any part of the call orinstalmentremainsunpaid,serveanoticeonhimrequiringpaymentofsomuchofthecallorinstalmentasisunpaid,togetherwithanyinterestwhichmayhaveaccrued.

42. Partialpaymentnottoprecludeforfeiture NeitherthereceiptbytheCompanyofaportionofanymoneyshallfromtimetotimebedue

fromanymembertotheCompanyinrespectofhis/hershares,eitherbywayofprincipalorinterestnoranyindulgencegrantedbytheCompanyinrespectofthepaymentofanysuchmoney,shallprecludetheCompanyfromthereafterproceedingtoenforceaforfeitureofsuchshares.

43. Termsofforfeiture Thenoticeaforesaidshallnameafurtherday(notbeingearlierthantheexpiryoffourteendays

fromthedateofserviceofthenotice)onorbeforewhichthepaymentrequiredbythenoticeistobemadeandshallalsostatethat,intheeventofnon-paymentonorbeforethedaysonamed,thesharesinrespectofwhichthecallwasmadeshallbeliabletobeforfeited.

44. Indefaultofpayment,sharesmaybeforfeited Iftherequirementsofanysuchnoticeasaforesaidarenotcompliedwith,anyshareinrespect

ofwhichthenoticehasbeengivenmay,atanytimethereafter,beforethepaymentrequiredbythenoticehasbeenmade,beforfeitedbyaresolutionoftheBoardtothateffect.

45. Powertoannulforfeiture TheBoardofDirectorsmayatanytimebeforeanysharesoforfeited,shallhavebeensoldor

otherwisedisposedof,annultheforfeiturethereofuponsuchconditionsastheymaythinkfit. Atanytimebeforeasaleordisposalasaforesaid,theBoardmaycanceltheforfeitureupon

suchconditionsastheymaythinkfit.

46. Membersshallbeliabletopaymoneyowing,atthetimeofforfeitureandinterest i. Apersonwhoseshareshavebeenforfeitedshallceasetobeamember inrespectof

theforfeitedshares,butshall,notwithstandingtheforfeiture,remainliabletopaytothecompanyallmonieswhich,atthedateofforfeiture,werepresentlypayablebyhimtothecompanyinrespectoftheshares.

ii. The liabilityofsuchpersonshallcease ifandwhen thecompanyshallhave receivedpaymentinfullofallsuchmoniesinrespectoftheshares.

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47. DeclarationofForfeiture i. Adulyverifieddeclarationinwritingthatthedeclaredisadirector,themanagerorthe

secretary,ofthecompany,andthatashareinthecompanyhasbeendulyforfeitedonadatestatedinthedeclaration,shallbeconclusiveevidenceofthefactsthereinstatedasagainstallpersonsclaimingtobeentitledtotheshare.

ii. TheCompanymayreceivetheconsideration,ifany,givenfortheshareonanysaleordisposalthereofandmayexecuteatransferoftheshareinfavourofthepersontowhomtheshareissoldordisposedof.

iii. Thetransfereeshallthereuponberegisteredastheholderoftheshare. iv. Thetransfereeshallnot(unlessbyexpressagreement)beliabletopayanycalls,amounts,

installments, interest and expenses owing to theCompany prior to such purchase orallotmentnorshallbeentitled (unlessbyexpressagreement) toanyof thedividends,interestsorbonusesaccruedorwhichmighthaveaccrueduponthesharebeforethetimeofcompletingsuchpurchaseorbeforesuchallotment.

v. Thetransfereeshallnotbeboundtoseetotheapplicationofthepurchasemoney,ifany,norshallhistitletothesharebeaffectedbyanyirregularityorinvalidityintheproceedingsinreferencetotheforfeiture,saleordisposaloftheshare.

48. Forfeituretoapplyincaseofnon-paymentofanysumpayableatfixedtime TheprovisionsoftheseArticlesastoforfeitureshallapplyinthecaseofnon-paymentofany

sumwhich,by the termsof issueofashare,becomespayableatafixedtime,whetheronaccountof thenominalvalueof theshareorbywayofpremium,as if thesamehadbeenpayablebyvirtueofacalldulymadeandnotified.

ALTERATION OF SHARE CAPITAL

49. Increaseofauthorisedsharecapital TheCompanymay,fromtimetotime,byordinaryresolutionincreasethesharecapitalbysuch

sum,tobedividedintosharesofsuchamount,asmaybespecifiedintheresolution.

50. Consolidation,divisionandsub-division SubjecttotheprovisionsoftheAct,theCompanymay,byordinaryresolution: i. Consolidateanddividealloranyofitssharecapitalintosharesoflargeramountthenits

existingshares; ii. Convertalloranyofitsfullypaid-upsharesintostockandreconvertthatstockintofully

paid-upsharesofanydenomination; iii. Sub-divideitsexistingsharesoranyofthemintothesharesofsmalleramountthenis

fixedbythememorandumofassociation; iv. Cancelanyshareswhich,atthedateofpassingoftheresolution,havenotbeentakenor

agreedtobetakenbyanyperson.

51. Sharesconvertedtostock– i. Theholdersofstockmaytransferthesameoranypartthereofinthesamemanneras,and

subjecttothesameregulationsunderwhich,thesharesfromwhichthestockarosemightbeforetheconversionhavebeentransferred,orasneartheretoascircumstancesadmit:

Provided that the Board may, from time to time, fix the minimum amount of stocktransferable,so,however, thatsuchminimumshallnotexceedthenominalamountofthesharesfromwhichthestockarose.

ii. The holders of stock shall, according to the amount of stock held by them, have thesamerights,privilegesandadvantagesasregardsdividends,votingatmeetingsofthecompany,andothermatters,asiftheyheldthesharesfromwhichthestockarose;butnosuchprivilegeoradvantage(exceptparticipationinthedividendsandprofitsofthecompanyandintheassetsonwindingup)shallbeconferredbyanamountofstockwhichwouldnot,ifexistinginshares,haveconferredthatprivilegeoradvantage.

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iii. SuchoftheseArticlesoftheCompanyasareapplicabletopaid-upsharesshallapplytostockandthewords“share”and“shareholder”shallinclude“stock”and“stock-holder”respectively.

52. ReductionofCapital TheCompanymayreduceinanymannerandinaccordancewiththeprovisionsoftheActand

rulesmadethereunder i. Itssharecapital; ii. Anycapitalredemptionreserveaccount;or iii. Anysharepremiumaccount;or iv. Anyotherreservesasmaybeavailable.

CAPITALISATION OF PROFITS

53. Capitalisation i. TheCompanyingeneralmeetingmay,upontherecommendationoftheBoard,resolve– (a) Thatitisdesirabletocapitaliseanypartoftheamountforthetimebeingstandingto

thecreditofanyofthecompany’sreserveaccounts,ortothecreditoftheprofitandlossaccount,orotherwiseavailablefordistribution;and

(b) Thatsuchsumbeaccordinglyset free fordistribution in themannerspecified inclause(ii)amongstthememberswhowouldhavebeenentitledthereto,ifdistributedbywayofdividendandinthesameproportions.

ii. Thesumaforesaidshallnotbepaidincashbutshallbeapplied,subjecttotheprovisioncontainedinclause(iii),eitherinortowards-

(a) Paying up any amounts for the time being unpaid on any shares held by suchmembersrespectively;

(b) Paying up in full, unissued shares of the company to be allotted and distributed,creditedasfullypaid-up,toandamongstsuchmembersintheproportionsaforesaid;

(c) Partlyinthewayspecifiedinsub-clause(a)andpartlyinthatspecifiedinsub-clause(b). (d) The securities premium account and capital redemption reserve account or any

otherpermittedreservemay,forthepurposesofthisregulation,beappliedinthepayingupofunissuedsharestobeissuedtomembersofthecompanyasfullypaidbonusshares;

(e) TheBoardshallgiveeffecttotheresolutionpassedbytheCompanyinpursuanceofthisArticle.

iii. Wheneversucharesolutionasaforesaidshallhavebeenpassed,theBoardshall– (a) Make all appropriations and applications of the undivided profits resolved to be

capitalisedthereby,andallallotmentsandissuesoffullypaidsharesifany;and (b) Generallydoallactsandthingsrequiredtogiveeffectthereto. iv. TheBoardshallhavepower– (a) Tomakesuchprovisions,by the issueof fractionalcertificatesorbypayment in

cashorotherwiseasit thinksfit,forthecaseofsharesbecomingdistributableinfractions;and

(b) Toauthoriseanypersontoenter,onbehalfofallthemembersentitledthereto,intoanagreementwiththeCompanyprovidingfortheallotmenttothemrespectively,creditedasfullypaid-up,ofanyfurthersharestowhichtheymaybeentitleduponsuchcapitalisation,orasthecasemayrequire,forthepaymentbytheCompanyontheirbehalf,bytheapplicationtheretooftheirrespectiveproportionsofprofitsresolved to be capitalised, of the amount or any part of the amounts remainingunpaidontheirexistingshares.

v. Anyagreementmadeundersuchauthorityshallbeeffectiveandbindingonsuchmembers.

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BUY-BACK OF SHARES

54. Notwithstandinganythingcontainedinthesearticlesbutsubjecttotheprovisionsofsections68to70andanyotherapplicableprovisionoftheActoranyotherlawforthetimebeinginforce,thecompanymaypurchaseitsownsharesorotherspecifiedsecurities.

GENERAL MEETINGS

55. ExtraordinaryGeneralMeeting Allgeneralmeetingsotherthanannualgeneralmeetingshallbecalledextraordinarygeneral

meeting.

56. AnnualGeneralMeeting SubjecttotheprovisionsoftheAct,theCompanyshallholdfromtimetotimeasprovidedby

theActinadditiontoanyothermeetings,ageneralmeetingasitsAnnualGeneralMeeting.TheprovisionsofSection96oftheActshallapplytosuchAnnualGeneralMeeting.

57. AnnualGeneralMeetingwhentobeheld EveryAnnualGeneralMeetingshallbecalledforatimeduringbusinesshoursandonsuch

day(notbeinganationalholiday)astheDirectorsmayfromtimetotimedetermineanditshallbeheldeitherattheRegisteredOfficeoftheCompanyoratanyplacewithinthecity,townorvillageinwhichtheofficeoftheCompanyforthetimebeingissituated.

58. CallingofExtraordinaryGeneralMeetingonrequisition Theboardofdirectorsshallonrequisitionofmembersinaccordancewithsection100ofthe

Act,forthwithproceedtocallanExtraordinaryGeneralMeetingandtheprovisionsofSection100oftheAct,shallapplyinrespectofsuchmeeting.

59. NoticeofMeeting SaveaspermittedunderSection101oftheAct,aGeneralMeetingoftheCompanymaybe

calledbygivingnotlessthansuchnumberofdays’noticeasspecifiedintheActorrulemadethereunder,inwritingorthroughelectronicmodeinsuchmannerasmaybespecifiedintheActorrulemadethereunder.

PROCEEDINGS AT GENERAL MEETINGS

60. Presenceofquorum Nobusinessshallbetransactedatanygeneralmeetingunlessaquorumofmembersispresent

atthetimewhenthemeetingproceedstobusiness.

61. Quorumforgeneralmeeting ThequorumforthegeneralmeetingsshallbeasprovidedintheAct.

62. Chairperson of the meetings TheChairperson,ifany,oftheBoardshallpresideasChairpersonateverygeneralmeetingof

thecompany.

63. DirectorstoelectaChairperson If there isnosuchChairperson,or ifhe isnotpresentwithinfifteenminutesafter the time

appointed forholding themeeting,or isunwilling toactaschairpersonof themeeting, thedirectorspresentshallelectoneoftheirmemberstobeChairpersonofthemeeting.

64. MemberstoelectaChairperson IfatanymeetingnodirectoriswillingtoactasChairpersonorifnodirectorispresentwithin

fifteenminutesafter thetimeappointedforholdingthemeeting, thememberspresentshallchooseoneoftheirmemberstobeChairpersonofthemeeting.

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65. Ifquorumnotpresent,meetingtobecancelled/adjourned IfwithinhalfanhourfromthetimeappointedforholdingameetingoftheCompany,aquorum

isnotpresent,themeetingifcalleduponattherequisitionofmembers,shallstandcancelled.Inanyothercasethemeetingshallstandadjournedtothesamedayinthenextweek(notbeinganationalholiday)atthesametimeandplace,ortosuchotherdayandatsuchothertimeandplaceastheBoardmaydetermine.

66. Adjournedmeetingtotransactbusiness If at any adjournedmeeting also, a quorum is not presentwithin half an hour of the time

appointedforholdingthemeetingthememberspresent,whatevertheirnumber(notbeinglessthantwo)shallbethequorumandshallhavepowertodecideuponallthematterswhichcouldproperlyhavebeendisposedofatthemeetingforwhichtheadjournmenttookplace.

67. Businessconfinedtoelectionofchairpersonwhilstchairvacant NobusinessshallbediscussedatanyGeneralMeetingexcepttheelectionoftheChairperson

whilsttheChairisvacant.IfapollisdemandedontheelectionoftheChairpersonitshallbetakenforthwithinaccordancewiththeprovisionsoftheActandtheseArticles.

68. CastingvoteofChairpersonatgeneralmeeting Onanybusinessatanygeneralmeeting,incaseofanequalityofvotes,whetheronashowof

handsorelectronically,theChairpersonshallhaveasecondorcastingvote.

69. Timeoftakingpoll i. ApolldemandedforadjournmentofthemeetingorappointmentofChairpersonofthe

meetingshallbetakenforthwith. ii. Apolldemandedonanyquestionotherthanadjournmentofthemeetingorappointment

ofChairpersonshallbetakenatsuchtime,notbeinglaterthanforty-eighthoursfromthetimewhenthedemandwasmade,astheChairpersonofthemeetingmaydirect.

70. Otherbusinessmayproceednotwithstandingdemandofpoll Thedemandofpollshallnotpreventthecontinuanceofameetingforthetransactionofany

businessotherthanthequestiononwhichapollhasbeendemanded.

71. Scrutinizersatpoll i. Whereapoll is tobetakentheChairpersonof themeetingshallappointoneormore

scrutinizer(s)toscrutinizethevotesgivenonthepollandtoreportthereontohim/her. ii. TheChairpersonshallhavepower,atanytimebeforetheresultofthepollisdeclared,to

removeascrutinizerfromofficeandtofillvacanciesintheofficeofthescrutinizersarisingfromsuchremovalorfromanyothercause.

72. Reports,Statementsandregistertobelaidontable AteveryAnnualGeneralMeetingoftheCompanythereshallbelaidonthetable,theDirectors

reportandauditedstatementofaccounts,Auditorsrepot,theproxyregisterwiththeproxiesand theRegisterofDirector’sshareholdingsmentionedunderSection170of theAct.TheAuditors’ReportshallbereadbeforethemembersinsuchGeneralMeetingandshallbeopentoinspectionbyanymemberoftheCompany.

73. MinutesofGeneralandBoardMeeting TheBoardshallcauseminutesofallproceedingsofeverygeneralmeetingandofallproceedings

ofeverymeetingoftheBoardofDirectorsorofeverycommitteeoftheboardtobekept inaccordancewithsection118oftheAct.

74. Inspectionofminutebookofgeneralmeting ThebookscontainingtheminutesoftheproceedingsofgeneralmeetingsoftheCompanyshall

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bekeptattheofficeoftheCompanyandbeopentotheinspectionofmembersonworkingdaysexceptSaturdaysandSundaysbetween11:00a.m.to1:00p.m.

ADJOURNMENT OF MEETING

75. Chairpersonmayadjournthemeeting i. TheChairpersonmay,withtheconsentofanymeetingatwhichaquorumispresent,and

shall,ifsodirectedbythemeeting,adjournthemeetingfromtimetotimeandfromplacetoplace.

ii. Nobusinessshallbetransactedatanyadjournedmeetingotherthanthebusinessleftunfinishedatthemeetingfromwhichtheadjournmenttookplace.

76. Noticeofadjournedmeeting i. Whenameeting isadjournedfor thirtydaysormore,noticeof theadjournedmeeting

shallbegivenasinthecaseofanoriginalmeeting. ii. Saveasaforesaid,andsaveasprovidedintheAct,itshallnotbenecessarytogiveany

noticeofanadjournmentorofthebusinesstobetransactedatanadjournedmeeting.

VOTING RIGHTS

77. Entitlementtovoteonshowofhandsandonpoll Subjecttoanyrightsorrestrictionsforthetimebeingattachedtoanyclassorclassesofshares- i. Onashowofhands,everymemberpresentinpersonshallhaveonevote;and ii. Onapoll,thevotingrightsofmembersshallbeinproportiontohisshareinthepaid-up

equitysharecapitalofthecompany.

78. Votingthroughelectronicmeans Amembermayexercisehisvoteatameetingbyelectronicmeans inaccordancewith the

provisionsoftheActandshallvoteonlyonce.

79. Voteofjointjolders i. Inthecaseofjointholders,thevoteoftheseniorwhotendersavote,whetherinperson

orbyproxy,shallbeacceptedtotheexclusionofthevotesoftheotherjointholders. ii. Forthispurpose,seniorityshallbedeterminedbytheorderinwhichthenamesstandin

theregisterofmembers.

80. Voteofmembersofunsoundmind Amemberofunsoundmind,orinrespectofwhomanorderhasbeenmadebyanycourthaving

jurisdictioninlunacy,mayvote,whetheronashowofhandsoronapoll,byhiscommitteeorotherlegalguardian,andanysuchcommitteeorguardianmay,onapoll,votebyproxy.

81. Votesinrespectofsharesofdeceasedorinsolventmembers,etc. SubjecttotheprovisionsoftheActandotherprovisionsoftheseArticles,anypersonentitled

under theTransmissionClause toanysharesmayvoteatanygeneralmeeting in respectthereofasifhewastheregisteredholderofsuchshares,providedthatatleast48hoursbeforethetimingofholdingthemeetingoradjournedmeeting,asthecasemaybe,atwhichhe/sheproposestovote,he/sheshalldulysatisfiedtheBoardofhisrighttosuchsharesunlesstheBoardshallhavepreviouslyadmittedhisrighttovoteatsuchmeetinginrespectthereof.

82. Businessmayproceedpendingpoll Anybusinessotherthanthatuponwhichapollhasbeendemandedmaybeproceededwith,

pendingthetakingofthepoll.

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83. Restrictionsonvotingrights Nomembershall beentitled tovoteatanygeneralmeetingunlessall callsorother sums

presentlypayablebyhiminrespectofsharesinthecompanyhavebeenpaid.

84. Noobjectioncanberaisedtothequalificationofvoter i. Noobjectionshallbe raised to thequalificationofanyvoterexceptat themeetingor

adjournedmeetingatwhichthevoteobjectedtoisgivenortendered,andeveryvotenotdisallowedatsuchmeetingshallbevalidforallpurposes.

ii. AnysuchobjectionmadeinduetimeshallbereferredtotheChairpersonofthemeeting,whosedecisionshallbefinalandconclusive.

85. Equalrightsofmembers AnymemberwhosenameisenteredintheregisterofmembersoftheCompanyshallenjoy

thesamerightsandbesubjecttothesameliabilitiesasallothermembersofthesameclass.

PROXY

86. Membermayvoteinpersonorotherwise Anymemberentitledtoattendandvoteatageneralmeetingmaydosoeitherpersonallyor

throughhisconstitutedattorneyorthroughanotherpersonasaproxyonhisbehalf,forthatmeeting.

87. Proxieswhentobedeposited Theinstrumentappointingaproxyandthepower-of-attorneyorotherauthority,ifany,under

which it is signedoranotarisedcopyof thatpowerorauthority, shall bedepositedat theregisteredofficeofthecompanynotlessthan48hoursbeforethetimeforholdingthemeetingoradjournedmeetingatwhichthepersonnamedintheinstrumentproposestovote,or,inthecaseofapoll,notlessthan48hoursbeforethetimeappointedforthetakingofthepoll;andindefaulttheinstrumentofproxyshallnotbetreatedasvalid.

88. FormofProxy AninstrumentappointingaproxyshallbeintheformasprescribedintheRules.

89. Validityofvotesgivenbyproxynotwithstandingdeathetc.,ofmember Avotegiveninaccordancewiththetermsofaninstrumentofproxyshallbevalid,notwithstanding

thepreviousdeathorinsanityoftheprincipalortherevocationoftheproxyoroftheauthorityunderwhichtheproxywasexecuted,orthetransferofthesharesinrespectofwhichtheproxyisgiven.Providedthatnointimationinwritingofsuchdeath,insanity,revocationortransfershallhavebeenreceivedbythecompanyatitsofficebeforethecommencementofthemeetingoradjournedmeetingatwhichtheproxyisused.

90. Votesmaybegivenbyproxy SubjecttotheprovisionsoftheAct,andthesearticles,votesmaybegiveneitherpersonallyor

byproxyorinthecaseofabodycorporatebyarepresentativedulyauthorisedunderSection113oftheAct.

91. Novotingbyproxyonshowofhands Nomembernotpersonallypresentshallbeentitledtovoteonashowofhandsunlesssuch

memberisabodycorporatepresentbyattorneyorbyrepresentativedulyauthorisedundersection113oftheActinwhichcaseattorneyorrepresentativemayvoteonshowofhandsasifhe/shewereanindividualmemberoftheCompany.

92. Custodyoftheinstrument Anyinstrumentofappointmentofproxydepositedasaforesaidshallremainpermanentlyorfor

suchtimeasthedirectorsmaydetermineinthecustodyoftheCompany.

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BOARD OF DIRECTORS

93. BoardofDirectors UntilotherwisedeterminedbyaGeneralMeetingoftheCompanyandsubjecttotheprovisions

oftheAct,thenumberofDirectorsshallnotbelessthanthreeandnotmorethanfifteen.

94. IndependentDirector TheCompanyshallappointsuchnumberofIndependentDirectorsasitmaydeemfit,fora

termspecified in the resolutionappointinghim/her inaccordancewith theprovisionsof theAct.Theprovisions relating to retirement of directors by rotation shall not beapplicable toappointmentofIndependentDirectors.

95. AdditionalDirector SubjecttotheprovisionsoftheAct,theBoardofDirectorsshallhavepoweratanytime,and

fromtimetotime,toappointapersonasanadditionalDirector,providedthenumberofthedirectorsandadditionaldirectorstogethershallnotatanytimeexceedthemaximumstrengthfixedfortheBoardbytheseArticles.

96. AlternateDirector TheBoardofDirectorsoftheCompanymayappointanalternateDirectortoactforaDirector

(hereinafter called the “original director”) during his/her absence for a period of a not lessthan threemonths from India and such appointment shall have effect and such appointeewhilsthe/sheholdsofficeasanAlternateDirectorshallbeentitledtonoticeofmeetingsoftheDirectorsandtoattendandtovotethereataccordingly.AnalternateDirectorappointedunderthisArticleshallnotholdofficeassuch foraperiod longer thanpermissible to theoriginalDirector inwhoseplacehe/shehasbeenappointedandshallvacateofficeifandwhentheoriginalDirectorreturnstoIndia.IfthetermsofofficeoftheOriginalDirectorsisdeterminedbeforehe/shesoreturnstoIndia,anyprovisionsintheActortheseArticlesfortheautomaticreappointmentofretiringDirectorindefaultofanotherappointmentshallapplytotheoriginalDirectorandnottotheAlternateDirector.

97. CasualVacancy SubjecttotheprovisionsoftheAct, if theofficeofaDirectorappointedbytheCompanyin

generalmeetingisvacatedbeforehis/hertermsofofficewillexpireinthenormalcourse,theresultingcasualvacancymay,befilledbytheBoardofDirectorsatameetingoftheBoardandthepersonsoappointedshallholdofficeuptothedatewhichtheDirectorinwhoseplaceheisappointedwouldhaveheldoffice,ifithadnotbeenvacatedasaforesaid.

98. NomineeDirector TheBoardmayappointanypersonasadirectornominatedbyanyfinancialinstitution,bank,

corporationoranyotherstatutorybody,oriftheCompanyhasenteredintoanyobligationwithanysuchinstitution,bank,corporationorbodyinrelationtoanyfinancialassistancebywayofloanadvancedtotheCompanyorguaranteeorgivenofanyloanborrowedorliabilityincurredbytheCompanyorsolongastheCompanyisindebted.SuchNomineeDirector/sshallnotberequiredtoholdanysharequalificationintheCompany,andsuchNomineeDirector/sshallnotbeliabletoretirementbyrotationofDirectors.Subjectasaforesaid,theNomineeDirector/sshallbeentitledtothesamerightsandprivilegesandbesubjecttothesameobligationsasanyotherDirectoroftheCompany.

99. RemunerationtoDirectors i. TheremunerationoftheDirectorsshall,insofarasitconsistsofamonthlypayment,be

deemedtoaccruefromdaytoday. ii. TheremunerationpayabletotheDirectors,includinganyManagingDirectororWhole-

timeDirectororManager,ifany,shallbedeterminedinaccordancewithandsubjecttotheprovisionsoftheAct.

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iii. EveryDirectorshallbepaidasittingfeenotexceedingthelimitsprescribedintheActforeachmeetingoftheBoardofDirectorsorofanycommitteethereofattendedbyhim/herandshallbepaidinadditiontheretoalltravelling,hotelandotherexpensesproperlyincurredbyhiminattendingandreturningfromthemeetingsoftheBoardofDirectorsoranycommitteethereoforGeneralMeetingoftheCompanyorinconnectionwiththebusinessoftheCompanytoandfromanyplace.

100.ForeignRegisterofMembersandform TheCompanymaykeepforeignregisterofmembersandformpursuanttotheexerciseofthe

powersconferredonitbySection88oftheActandtheBoardmay,subjecttotheprovisionsoftheAct,makeandvaryregulationsasitmaythinkfitinrespectofkeepinganyofsuchregister.

101.Authorisesigningofreceipts,cheques,etc. All cheques, promissory notes, drafts, hundis, bills of exchange, receipts, acceptances,

endorsements, cheques, dividend warrants, releases, contracts and documents and othernegotiable instruments, and all receipts formonies paid to theCompany, shall be signed,drawn,accepted,endorsed,orotherwiseexecuted,asthecasemaybe,bysuchpersonandinsuchmannerastheBoardshallfromtimetotimebyresolutiondetermine.

102.ResignationofDirectors SubjecttotheprovisionsoftheActaDirectormayatanytimeresignfromhis/herofficeby

givingnoticeinwritingtotheCompanyofhisintentionsotodo,andthereuponhisofficeshallbevacated.

103.RotationofDirectors i. Notlessthantwo-thirdsofthetotalnumberofDirectorsoftheCompanyshall: (a) BepersonswhoseperiodofofficeisliabletodeterminationbyretirementofDirectors

byrotation;and (b) SaveasotherwiseexpresslyprovidedinthesaidAct;beappointedbytheCompany

inGeneralMeeting. Explanation: - for the purposes of this Article “total number of Directors” shall not include

IndependentDirectorsappointedontheBoardoftheCompany. ii. Subject to theprovisionsof theAct, at theAnnualGeneralMeetingof theCompany,

onethirdoftheDirectorsforthetimebeingliabletoretirebyrotationandiftheirnumberisnotthreeoramultipleofthreethenthenumbernearesttheretoshallretirefromtheoffice.TheDirectorstoretireatsuchAnnualGeneralMeetingshallbetheDirectorswhoshallhavebeenlongestinofficesincetheirlastelection.AsbetweenDirectorswhobecameDirectorsonthesamedaythosetoretireshall(indefaultofagreementbetweenthem)bedeterminedbylot.ForthepurposeofthisArticle,aDirectorappointedtofillavacancyundertheprovisionsoftheArticlesshallbedeemedtohavebeeninofficesincethedateonwhichtheDirector,inwhoseplacehe/shehasbeenappointedwaslastelectedasaDirector.

iii. Attheannualgeneralmeetingatwhichadirectorretiresasaforesaid,theCompanymayfillupthevacancybyappointingtheretiringdirectororsomeotherpersonthereto.

iv. IftheplaceoftheretiringDirectorisnotsofilledupandthemeetinghasnotexpresslyresolvednottofillthevacancy,themeetingshallstandadjournedtillthesamedayinthenextweek,atthesametimeandplace,orifthatdayisaNationalHoliday,tillthenextsucceedingdaywhichisnotaholiday,atthesametimeandplace.

v. Ifattheadjournedmeetingalso,theplaceoftheretiringDirectorisnotfilledupandthatmeetingalsohasnotexpresslyresolvednottofillthevacancy,theretiringDirectorshallbedeemedtohavebeenre-appointedattheadjournedmeetingunless:-

(a) AtthemeetingoratthepreviousmeetingaresolutionforthereappointmentofsuchDirectorhasbeenputtothemeetingandlost;

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(b) TheretiringDirectorhas,byanotice inwritingaddressed to theCompanyor itsBoardofDirectors,expressedhisunwillingnesstobesore-appointed;

(c) Heisnotqualifiedorisdisqualifiedforappointment; (d) A resolution, whether special or ordinary, is required for his appointment or

reappointmentbyvirtueofanyprovisionsofthesaidAct. vi. Unlessotherwisementionedintheirtermsofappointment,theWhole-timeDirectorsshall

notbeliabletoretirebyrotation.

POWERS OF THE BOARD

104.GeneralpowersoftheCompanyvestedinBoard ThemanagementofthebusinessoftheCompanyshallbevestedintheBoardandtheBoard

mayexerciseall suchpowers,anddoall suchactsand things,as theCompany isby theMemorandumofAssociationorotherwiseauthorizedtoexerciseanddo,and,notherebyorbythestatuteorotherwisedirectedorrequiredtobeexercisedordonebytheCompanyingeneralmeetingbutsubjectneverthelesstotheprovisionsoftheActandotherlawsandoftheMemorandumofAssociation and theseArticles or theAct, not being inconsistentwiththeMemorandumofAssociationandtheseArticlesortheAct,fromtimetotimemadebytheCompanyingeneralmeetingprovidedthatnosuchregulationshallinvalidateanyprioractoftheBoardwhichwouldhavebeenvalidifsuchregulationhadnotbeenmade.

105.SpecificpowersoftheBoard WithoutprejudicetothegeneralpowersconferredbytheprecedingArticleandwithoutprejudice

totheotherpowersconferredbytheseArticles,butsubjecttotherestrictionscontainedinthelastprecedingArticleandapplicableprovisionsoftheAct,theDirectorsshallhavefollowingpowers,thatistosaythepower:

i. Tomakecallsonshareholdersinrespectofmoneyunpaidontheirshares; ii. Toauthorisebuy-backofsecuritiesundersection68; iii. Toissuesecurities,includingdebentures,whetherinoroutsideIndia; iv. Toborrowmonies; v. Toinvestthefundsofthecompany; vi. Tograntloansorgiveguaranteeorprovidesecurityinrespectofloans; vii. ToapprovefinancialstatementandtheBoard‘sreport; viii. Todiversifythebusinessofthecompany; ix. Toapproveamalgamation,mergerorreconstruction; x. Totakeoveracompanyoracquireacontrollingorsubstantialstakeinanothercompany; xi. Tomakegiftsofmoney,securities,assetsandpropertiesofanykind tosubsidiaries,

membersandothersaswellastoacceptgifts,bequestsanddonationsfrommembers,subsidiaries,holdingcompaniesandothersofmoney,securities,assetsandpropertiesofanykindandmayauthorizeanyotherpersonorpersonstoexercisesuchpowers;

xii. Tomakepoliticalcontribution.

106.Powerstodelegate SubjecttotheprovisionsofSection179oftheActandotherprovisionsoftheActandrules

thereunder,theBoardmaydelegatefromtimetotimeandatanytimetocommitteeformedoutoftheDirectorsanyofitspowers,authorities,anddiscretionforthetimebeingvestedintheBoardandanysuchdelegationsmaybemadeonsuchtermsandsubjecttosuchconditionsastheBoardmaythinkfit.

107.BorrowingsPowersoftheBoard SubjecttorestrictionsprovidedintheAct,theDirectorsmay,fromtimetotimeattheirdiscretion

toacceptdepositsfrommembersoftheCompanyeitherinadvanceoncallsorotherwiseand

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generally toraiseorborroworsecuretherepaymentofanysumofmoneyfor thepurposeof theCompany.Anysuchmoneysmaybesecured insuchmanneranduponsuch termsandconditionsinallrespectsastheDirectorsmaythinkfitandinparticularinpursuanceofaresolutionpassedatameetingoftheBoardbyissueofbonds,debenturesordebenturesstockof theCompany, chargeduponall oranypartof thepropertyof theCompany (bothpresentandfuture)includingitsuncalledcapitalforthetimebeingandthedebenturesandthedebenture-stockandothersecuritiesmaybemadeassignablefreefromanyequitiesbetweentheCompanyandthepersontowhomthesamemaybeissued.

108.RestrictionsonpowersofBoard TheBoardofDirectorsshallnot,exceptwiththeconsentoftheCompanyingeneralmeeting,

borrowmoneyswherethemoneystobeborrowedtogetherwiththemoneysalreadyborrowedby theCompany (apart from temporary loansobtained from theCompany’sbankers in theordinarycourseofbusiness)inexcessoftheborrowinglimitsasspecifiedintheAct.

Any bonds, debentures, debenture-stock or other securities issued or to be issued by theCompany,shallbeunderthecontroloftheDirectorswhomayissuethemuponsuchtermsandconditionsandinsuchmannerandforsuchconsiderationastheyshallconsidertobeforthebenefitoftheCompany.

MANAGING DIRECTOR / WHOLE-TIME DIRECTOR

109.BoardmayappointManagingDirectororWhole-timeDirector SubjecttotheprovisionsoftheActandtheseArticles,theDirectorsshallhavepowertoappoint

fromtimetotimeoneormoreoftheirbodytobeManagingDirectororManagingDirectorsorWhole-timeDirectorsoftheCompanyforsuchtermnotexceedingfiveyearsatatimeastheymaythinkfittomanagetheaffairsandbusinessoftheCompanyandfromtimetotimeremoveordismisshimorthemfromofficeandappointanotherorothersinhisortheirplaceorplaces.

ProvidedthatanindividualcanbeappointedorreappointedorcontinueasChairpersonoftheCompanyaswellasManagingDirectororChiefExecutiveOfficeroftheCompanyatthesametime.

110.ApplicabilityoftheprovisionstoManagingDirectororWhole-timeDirector Subject to theprovisionsof theActandof thesearticles,aManagingDirectororaWhole-

timeDirector shall,maywhilehe/shecontinues, tohold thatofficebesubject to thesameprovisionastoresignationandremovalastheotherDirectorsoftheCompanyandhe/sheshallipso-factoandimmediatelyceasetobeaManagingDirectororWhole-timeDirectorifhe/sheceasestoholdtheofficeofDirector.

111.RemunerationofManagingDirectororWhole-timeDirector SubjecttotheprovisionsoftheActandtotheapprovaloftheCompanyingeneralmeeting,the

remunerationofaManagingDirectororWhole-timeDirectorshallfromtimetotimebefixedbytheBoardbywayoffixedsalary,performancepay,commissiononprofitsoftheCompany,byparticipationinanysuchprofitsorbyanyorallofthosemodes.

112.PowersanddutiesofManagingDirectororWhole-timeDirector Subjecttothesuperintendence,controlanddirectionoftheboardofDirectors,thedaytoday

managementoftheCompanymaybeentrustedtotheDirectororDirectorsappointedundertheArticleswithpowertotheboardtodistributesuchdaytodayfunctionsamongsuchDirectors,ifmorethanone, inanymannerasdirectedbytheboard.Theboardmayfromtimetotime,entrusttoandconferuponaManagingdirectororwhole-timedirectorforthetimebeing,saveasprohibitedintheAct,suchofthepowersexercisableunderthesepresentsbytheDirectorsastheymaythinkfitandmayconfersuchpowerforsuchtimeandtobeexercisedforsuchobjectsandpurposesanduponsuchtermsandconditionswithsuchrestrictionsastheythinkexpedientandtheymayfromtimetotimerevoke,withdraw,alterorvaryalloranyofsuchpowers.

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PROCEEDINGS OF THE BOARD

113.MeetingoftheDirectors TheBoardofDirectorsmaymeetfortheconductofbusiness,adjournandotherwiseregulate

itsmeetings,asitthinksfit.

114.WhomaysummonBoardmeeting TheChairpersonoranyDirectorwith thepreviousconsentof theChairpersonmay,on the

directionoftheChairpersonmay,ortheCompanySecretary,atanytime,summonameetingof the Board.

115.Quorum ThequorumforaBoardmeetingshallbeasprovidedintheAct.

116.ParticipationatBoardmeetings Theparticipationofdirectors inameetingof theBoardmaybeeither inpersonor through

videoconferencingoraudiovisualmeansorteleconferencing,asmaybeprescribedundertheAct.

117.QuestionsatBoardmeetinghowdecided SaveasotherwiseexpresslyprovidedintheAct,questionsarisingatanymeetingoftheBoard

shallbedecidedbyamajorityofvotes.

118.Castingvote Incaseofanequalityofvotes,theChairpersonoftheBoard,ifany,shallhaveasecondorcasting

vote.

119.Directorsnottoactwhennumberfallsbelowminimum ThecontinuingdirectorsmayactnotwithstandinganyvacancyintheBoard;but,ifandsolong

astheirnumberisreducedbelowthequorumfixedbytheActforameetingoftheBoard,thecontinuingdirectorsordirectormayactforthepurposeofincreasingthenumberofdirectorstothatfixedforthequorum,orofsummoningageneralmeetingofthecompany,butfornootherpurpose.

120. Chairperson of the meetings TheChairpersonoftheCompanyshallbetheChairpersonsatmeetingsoftheBoard.Inhis

absence, theBoardmayelect aChairpersonof itsmeetings anddetermine the period forwhichheistoholdoffice.

121.DirectorstoelectaChairperson IfnosuchChairpersoniselected,orifatanymeetingtheChairpersonisnotpresentwithin

fifteenminutesafter the timeappointed for holding themeeting, thedirectorspresentmaychooseoneoftheirnumberstobeChairpersonofthemeeting.

122.Delegationofpowers TheBoardmay,subjecttotheprovisionsoftheAct,delegateanyofitspowerstocommittees

consistingofsuchmemberormembersofitsbodyasitthinksfit.

123.CommitteetoconformtoBoardRegulations Anycommitteesoformedshall, intheexerciseofthepowerssodelegated,conformtoany

regulationsthatmaybeimposedonitbytheBoard.

124.ParticipationatCommitteemeetings Theparticipationofdirectors inameetingof theBoardmaybeeither inpersonor through

videoconferencingoraudiovisualmeansorteleconferencing,asmaybeprescribedundertheAct.

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125. Chairperson of Committee AcommitteemayelectaChairpersonofitsmeetingsunlesstheBoard,whileconstitutinga

Committee,hasappointedaChairpersonofsuchCommittee.

126. Who to preside at meetings of Committee IfnosuchChairpersoniselected,orifatanymeetingtheChairpersonisnotpresentwithin

fifteenminutesafter the timeappointed forholding themeeting, thememberspresentmaychooseoneoftheirmemberstobeChairpersonofthemeeting.

127. Committee to meet Acommitteemaymeetandadjournasitthinksfit.

128.QuestionsatCommitteemeetinghowdecided QuestionsarisingatanymeetingofaCommitteeshallbedeterminedbyamajorityofvotesof

thememberspresent.

129.CastingvoteofChairpersonatCommitteeMeeting Incaseofanequalityofvotes,theChairpersonshallhaveasecondorcastingvote.

130.ActsofBoardorCommitteevalidnotwithstandingdefectofappointment AllactsdoneinanymeetingoftheBoardorofaCommitteethereoforbyanypersonacting

asadirector,shall,notwithstandingthatitmaybeafterwardsdiscoveredthattherewassomedefect in theappointmentofanyoneormoreofsuchdirectorsorofanypersonactingasaforesaid,orthattheyoranyofthemweredisqualified,beasvalidasifeverysuchdirectororsuchpersonhadbeendulyappointedandwasqualifiedtobeadirector.

131.Passingofresolutionbycirculation Save as otherwise expressly provided in the Act, a resolution in writing, signed, whether

manuallyorbysecureelectronicmode,byamajorityof themembersof theBoardorofaCommitteethereof,forthetimebeingentitledtoreceivenoticeofameetingoftheBoardorCommittee,shallbevalidandeffectiveasifithadbeenpassedatameetingoftheBoardorCommittee,dulyconvenedandheld.

CHIEF EXECUTIVE OFFICER, MANAGER, COMPANY SECRETARY OR CHIEF FINANCIAL OFFICER

132.SubjecttotheprovisionsoftheAct,— i. Achiefexecutiveofficer,manager,companysecretaryorchieffinancialofficermaybe

appointedbytheBoardforsuchterm,atsuchremunerationanduponsuchconditionsasitmaythinkfit;andanychiefexecutiveofficer,manager,companysecretaryorchieffinancialofficersoappointedmayberemovedbymeansofaresolutionoftheBoard.

ii. Adirectormaybeappointedaschiefexecutiveofficer,manager,companysecretaryorchieffinancialofficer.

133.AprovisionoftheActortheseArticlesrequiringorauthorizingathingtobedonebyortoadirectorandchiefexecutiveofficer,manager,companysecretaryorchieffinancialofficershallnotbesatisfiedbyitsbeingdonebyortothesamepersonactingbothasdirectorandas,orinplaceof,chiefexecutiveofficer,manager,companysecretaryorchieffinancialofficer.

COMMON SEAL134.TheDirectorsshallprovideacommonsealforthepurposeoftheCompanyandshallhave

thepowerfromtimetotimetodestroythesameandsubstituteanewsealinlieuthereofandshallprovideforthesafecustodyofthesealforthetimebeingandthesealshallneverbeusedexceptbytheauthorityofaresolutionofDirectorsorcommitteeoftheBoardauthorisedbyitinthatbehalf.EverydeedorotherinstrumenttowhichsealoftheCompanyisrequired

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tobeaffixed,shallunlessthesameisexecutedbydulyconstitutedattorneyoftheCompany,besignedbyanyoneoftheofficialsauthorizedbytheBoardforthepurpose,providedthatthecertificatesofsharesordebenturesmaybesealedandsignedinthemannerandinconformitywiththeprovisionsoftheActandrulesmadethereunder.

DIVIDENDS AND RESERVE

135.CompanyinGeneralMeetingmaydeclareadividend TheCompanyingeneralmeetingmaydeclaredividends,butnodividendsshallexceedsthe

amountrecommendedbytheBoard.However,theCompanymaydeclareasmallerdividendsinthegeneralmeeting.

136.InterimDividend SubjecttotheprovisionsoftheAct,theBoardmayfromtimetotimepaytothememberssuch

interimdividendsasappeartoittobejustifiedbytheprofitsoftheCompany.

137.Establishreservefunds i. TheBoardmay,beforerecommendinganydividend,setasideoutoftheprofitsofthe

Companysuchsumsasitthinksfitasareserveorreserveswhichshall,atthediscretionof theBoard,beapplicable foranypurpose towhich theprofitsof theCompanymaybe properly applied, including provision for meeting contingencies or for equalisingdividends;andpendingsuchapplication,may,atthelikediscretion,eitherbeemployedinthebusinessoftheCompanyorbeinvestedinsuchinvestments(otherthansharesoftheCompany)astheBoardmay,fromtimetotime,thinksfit.

ii. TheBoardmayalsocarry forwardanyprofitswhich itmayconsidernecessarynot todivide,withoutsettingthemasideasareserve.

138.Dividendinproportionto i. Subjecttotherightsofpersons,ifany,entitledtoshareswithspecialrightsastodividends,

alldividendsshallbedeclaredandpaidaccordingtotheamountspaidorcreditedaspaidonthesharesinrespectwhereofthedividendispaid,butifandsolongasnothingispaiduponanyofthesharesinthecompany,dividendsmaybedeclaredandpaidaccordingtotheamountsoftheshares.

ii. NoamountpaidorcreditedaspaidonashareinadvanceofcallsshallbetreatedforthepurposesofthisArticleaspaidontheshare.

iii. Alldividendsshallbeapportionedandpaidproportionatelytotheamountspaidorcreditedaspaidonthesharesduringanyportionorportionsoftheperiodinrespectofwhichthedividendispaid;butifanyshareisissuedontermsprovidingthatitshallrankfordividendasfromaparticulardatesuchshareshallrankfordividendaccordingly.

139.Amountpayable TheBoardmaydeductfromanydividendpayabletoanymemberallsumsofmoney,ifany,

presentlypayablebyhimtotheCompanyonaccountofcallsorotherwiseinrelationtotheshares of the Company.

140.Dividendhowremitted i. Anydividend,interestorothermoniespayableincashinrespectofsharesmaybepaid

by chequeorwarrant sent through thepost directed to the registeredaddressof theholderor,inthecaseofjointholders,totheregisteredaddressofthatoneofthejointholderswhoisfirstnamedontheregisterofmembers,ortosuchpersonandtosuchaddressastheholderorjointholdersmayinwritingdirect.

ii. Everysuchchequeorwarrantshallbemadepayabletotheorderofthepersontowhomit is sent.

iii. TheCompanyshallnotbeliableforanychequeorwarrantlostintransmissionorforany

29

dividendlosttothememberorpersonentitledthereof,bytheforgedendorsementofachequeorwarrantorthefraudulentrecoverythereofbyanyothermeans.

iv. Any one of two or more joint holders of a sharemay give effective receipts for anydividends,bonusesorothermoniespayableinrespectofsuchshare.

141.Noticeofdividendtobegiven Noticeofanydividendthatmayhavebeendeclaredshallbegiventothepersonsentitledto

sharethereininthemannermentionedintheAct.

142.Nodividendshallbearinterestagainstthecompany.

143. Thewaiverinwholeorpartofanydividendonanysharebyanydocument(whetherornotunderseal)shallbeeffectiveonlyifsuchdocumentsissignedbythemember(orthepersonentitledtotheshareinconsequencesofthedeathorbankruptcyoftheholder)anddeliveredtotheCompanyandifextentthatthesameisacceptedassuchandacteduponbytheBoard.

REGISTERS AND DOCUMENTS

144.The Company shall keep andmaintain Registers, Books and Documents required by theCompaniesAct,2013andtherulesmadethereunder(includinganystatutorymodificationorre-enactmentthereof)totheextentapplicabletotheCompanyfromtimetotime.

145.TheRegisters,BooksandDocumentsasprovided in the foregoingArticleshall (a)subjecttosuchrestrictionsasprovidedintheCompaniesAct,2013andtherulesmadethereunder(includinganystatutorymodificationorre-enactmentthereof)andonpaymentofsuchfeesasmaybedecidedbytheBoardofDirectorsoftheCompany,beopentopersonssoauthorized/entitledforinspectionandextractsmaybetakentherefromonworkingdaysexceptSaturdaysandSundaysbetween11.00AMto1.00PMand(b)copythereofmayberequiredbysuchpersonswhoareentitledforthesameandonpaymentofsuchfeesasmaybedecidedbytheBoardofDirectorsoftheCompany.

Providedthatthefees(incase(a)or(b)above)sodecidedbytheBoard,inanycaseshallnotexceedthemaximumfeesprescribed,inrespectofinspectionorcopiesthereof,asthecasemaybe, for respectivedocument/register,under theCompaniesAct,2013and rulesmadethereunderfromtimetotime(includinganystatutorymodificationorre-enactmentthereof).

146.TheCompanymaychargefromtheshareholder,thefeeinadvance,equivalenttotheestimatedactualexpensesofdeliveryofthedocuments,pursuanttoanyrequestmadebytheshareholderfordeliveryofsuchdocumenttohim,throughaparticularmodeofservicei.e.bypostorbyregisteredpostorbyspeedpostorbycourierorbyelectronicorothermode;providedsuchrequestalongwithrequisitefeehasbeendulyreceivedbytheCompanyatleastoneweekinadvanceofthedispatchofdocumentbytheCompany.

ACCOUNTS AND AUDIT

147.Booksofaccountstobekept TheCompanyshallkeepproperbooksofaccountsasrequiredbytheActinparticularunder

Section128thereof.

148.InspectionbyDirectors ThebooksofaccountsandbooksandpapersoftheCompanyoranyofthemshallbeopento

theinspectionofdirectorsinaccordancewiththeapplicableprovisionsoftheActandtherulesmadethereunder.

149.InspectionbyMembers TheBoardofDirectorsoranycommitteethereof,shallfromtimetotimedeterminewhether

andtowhatextentandatwhattimesandplacesandunderwhatconditionsorregulationsthe

30

accountsandbooksanddocumentsandregistersof theCompanyoranyof themshallbeopentotheinspectionofthemembers,andnomember(notbeingaDirector)shallhaveanyrightof inspectinganyaccountorbooksordocumentsor registersof theCompanyexceptasconferredbystatuteorauthorisedbytheDirectorsorbytheresolutionoftheCompanyinGeneralMeeting.

150.Statementofaccountstobefurnishedtogeneralmeeting SubjecttoSection129oftheActateveryAnnualGeneralMeetingoftheCompanytheDirectors

shall laybefore theCompanyaFinancialStatements foreachfinancialyear.TheFinancialStatementsshallbesignedinaccordancewiththeprovisionsofSection134ofthesaidAct.EveryaccountwhenauditedandapprovedbyaGeneralMeetingshallbeconclusive.

151.Accountstobeauditedandappointmentofauditors EveryfinancialstatementthatisrequiredtobelaidbeforethemembersoftheCompanyshall

beauditedbyoneormoreauditorstobeappointedashereinaftermentioned.Theappointment,powers,rights,remunerationanddutiesoftheauditorsshallberegulatedbySections139to146andSection148oftheAct.

WINDING UP

152.WindingupwhennecessarywillbedoneinaccordancewiththeprovisionsoftheAct.

INDEMNITY AND INSURANCE

153.Directorsandotherofficersrightorindemnity EveryofficeroftheCompanyshallbeindemnifiedoutoftheassetsoftheCompanyagainst

anyliabilityincurredbyhimindefendinganyproceedings,whethercivilorcriminal,inwhichjudgmentisgiveninhisfavourorinwhichheisacquittedorinwhichreliefisgrantedtohimbythecourtortheTribunal.

SubjecttotheprovisionsoftheAct,everyDirector,SecretaryandotherofficeroremployeeoftheCompanyshallbeindemnifiedbytheCompanyagainstanditshallbethedutyofdirectorstopayoutoftheCompanyallcosts,lossesandexpenses(includingtravellingexpenses)whichanysuchdirector,secretaryorofficeroremployeemayincurorbecomeliabletobereasonofanycontractenteredintooractordeeddonebyhim/herassuchdirector,secretaryorofficeroremployeeorinanywayinthedischargeofduties.

154.Insurance TheCompanymaytakeandmaintainanyinsuranceastheBoardmaythinkfitonbehalfof

itspresentand/orformerdirectorsandkeymanagerialpersonnelforindemnifyingalloranyofthemagainstanyliabilityforanyactsinrelationtotheCompanyforwhichtheymaybeliablebuthaveactedhonestlyandreasonably.

155.DirectorsandOfficersnotresponsibleforactofothers SubjecttotheprovisionsoftheAct,noDirectororotherofficeroftheCompanyshallbeliable

fortheacts,receipts,neglects,ordefaultsofanyDirectororofficersorforjoininginanyreceiptorotheractofconformity,or forany lossorexpenseshappening to theCompany throughinsufficiencyordeficiencyoftitleofanypropertyacquiredbyorderoftheDirectorsfororonbehalfoftheCompanyorforinsufficiencyordeficiencyofanysecurityinoruponwhichanyofthemoneysoftheCompanyshallbeinvestedorforanylossordamagearisingfromthebankruptcy,insolvencyortortuousactsofanyperson,company,bodycorporateorcorporationwithwhomanymoney,securitiesoreffectshallbeentrustedordeposited,orforanyotherlossordamageormisfortunewhatsoeverwhichshallhappenintheexecutionofthedutiesofhis/herofficeorinrelationtheretounlessthesamehappensthroughhis/herwilfulmisconductorneglectordishonesty.

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SECRECY

156.Subjecttotheprovisionsoflawoflandandtheact,everymanager,auditortrustee,memberofacommittee,officerservant,agentaccountantorotherpersonsemployedinthebusinessoftheCompanyshall,ifsorequiredbytheBoardofDirectorsbeforeenteringuponhisduties,sign,declaration,pledginghimselftoobservestrictsecrecyrespectingalltransactionsoftheCompanywithitscustomersandthestateofaccountwithindividualsandinmattersrelatingtheretoandshallbysuchdeclarationpledgehimself,nottorevealanyof thematterswhichmaycometohisknowledgeinthedischargeofhisdutiesexceptwhenrequiredtodosobythedirectorsorbyanycourtoflawandexceptsofarasmaybenecessaryinordertocomplywithanyoftheprovisionsinthesepresents.

157.Nomemberorotherperson(notbeingaDirector)shallbeentitlestovisitorinspectanypropertyorpremisesof theCompanywithout thepermissionof theBoardofDirectorsorManagingDirector or to inquirediscoveryof any information respectinganydetails of theCompany’stradingor anymatterwhich is ormaybe in thenatureof a tradesecret,mysteryof trade,secretprocessoranymatterwhichrelatedtotheconductofthebusinessoftheCompanyandwhichintheopinionoftheDirectors,itwouldbeinexpedientintheinterestoftheCompanytodisclose.

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Sl.No.

Name and Addresses, Description and Occupation of Subscribers with their Signatures

Signature, Name, Address, Description and Occupation of

the witness1. ChirayuR.Amin

Chairman&ManagingDirector ForAlembicLimited AlembicRoad,Vadodara390003 Occupation:PublicLtd.Company

Sd/-

Witnesstosignaturesofall(ie.,1to7)

Sd/-

SanjayS.B

hatt

SonofS

hriSukhdevO.B

hatt

B1/102,PalitirthApartm

ent,

Subhanpura,Vadodara-390023

Occupation:S

ervice

Place:V

adodara

Date:27/05/2010

2. ChirayuR.Amin SonofRamanbhaiB.AminF-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-3. MalikaC.Amin

WifeofChirayuR.AminF-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-4. PranavAmin

SonofChirayuR.Amin F-10/195,RaceCourseCircle, GotriRoad,Vadodara390007 Occupation:Business

Sd/-5. ShaunakC.Amin


Sd/-6. Udit C. Amin


Sd/-7. Mr.RajkumarShreeramBaheti

S/oShreeramBaheti FlatNo.402,SampratResidency, 52,AlkapuriSociety,Alkapuri,Vadodara–390003 Occupation:Service

Sd/-

Place:VadodaraDate:27/05/2010

33

IN THE HIGH COURT OF GUJARAT AT AHMEDABADORIGINAL JURISDICTION

COMPANY PETITION NO. 153 OF 2010CONNECTED WITH

COMPANY APPLICATION NO. 216 OF 2010

InthematterofSections391to394readwithSections78and100to104oftheCompaniesAct,1956;AndIn the matter ofAlembicPharmaLimited.ACompany incorporated under theCompaniesAct,1956andhavingitsregisteredofficeatAlembicRoad,Vadodara,390003inthestateofGujarat.AndIn the matter ofComposite Scheme of Arrangement in the natureof Demerger and transfer of the PharmaceuticalUndertaking of Alembic Limited to Alembic PharmaLimited and consequential reorganization of ShareCapital in form of Utilisation of the Share PremiumAccountofAlembicLimited.

AlembicPharmaLimited.ACompanyincorporatedundertheCompaniesAct,1956andhavingitsregisteredofficeatAlembicRoad,Vadodara,390003inthestateofGujarat. ……….PETITIONER

BEFORE HONOURABLE Mr. JUSTICE A.S.DAVE

Date:24thJanuary,2011Order On Petition

Theabovepetitioncomingon forhearingon24th January,2011,upon reading thesaidpetition,the order dated 2ndAugust2010andfurtherorderdated9thAugust2010,passedintheCompanyApplication No. 216 of 2010 whereby the meeting of the Equity Shareholders of the PetitionerCompanyforthepurposeofconsidering,andifthoughtfit,approving,withorwithoutmodifications,thearrangementproposedtobemadebetweenthesaidCompanyanditsmembersbytheSchemeofArrangementinthenatureofde-mergerandtransferofPharmaceuticalUndertakingofAlembicLimitedtoAlembicPharmaLimitedandReorganisationofShareCapitalinformofUtilizationoftheSharePremiumAccountofAlembicLimited,wasdispensedwithinviewoftheconsentlettersoftheshareholdersanditappearingfromtheconsentlettersplacedonrecordthatproposedschemehasbeenunanimouslyapprovedbytheEquityShareholders;consideringtheaffidavitdated25thOctober,

34

2010filedbytheAlembicKarmachariUnionandtheaffidavitinreplyfiledbythepetitionerdated26th November,2010andconsideringtheaffidavitdated8thDecember2010filedbyUttamChandNahta,theRegionalDirector,NorthWesternRegion,Ministry ofCorporateAffairs, and considering theorder dated 13thDecember2010passedinCompanyApplicationNo.367of2010andconsideringtheAdditionalAffidavitdated17thDecember,2010filedby thepetitioneranduponhearingSmt.SwatiSoparkar,Advocate for thePetitionerCompany,Mr.PavanGodiawalaappearingwithM/sH.L.PatelAdvocatesappearingfortheAlembicKarmachariUnionandhearingShriM.I.Shaikh,StandingCounsel,appearingfortheCentralGovt.,

This Court doth hereby sanction the scheme of arrangement set forth in para 8 of the petitionhereinandintheSchedulehereto,anddoth herebydeclarethesametobebindingontheEquityShareholdersoftheabovenamedCompanyandalsoonthesaidCompany.

And this Court doth further order that parties to the scheme of arrangement or other personsinterestedshallbeatlibertytoapplytothisCourtforanydirectionsthatmaybenecessaryinregardtotheworkingofthesaidarrangement,and

That thesaidCompanydofilewith theRegistrarof theCompaniesacertifiedcopyof thisorderwithin30daysfromthereceiptofthesame,and

ThisCourtdothfurtherorderpaymentofRs.7,500/-inaggregateasthecostofthispetitionawardabletoShriM.I.Shaikh,StandingCounsel.

SCHEDULESchemeofArrangementassanctionedbythecourt.

Dated 24thdayofJanuary2011

35

SCHEME OF ARRANGEMENTBETWEEN

ALEMBIC LIMITED - DEMERGED COMPANYAND

ALEMBIC PHARMA LIMITED - RESULTING COMPANYAND THEIR RESPECTIVE MEMBERS AND CREDITORS

UNDER SECTIONS 391 TO 394 OF THE COMPANIES ACT 1956

ThisCompositeSchemeofArrangementprovides forDemerger/Spinoffof thePharmaceuticalUndertaking(asdefinedhereinafter)ofAlembic LimitedasagoingconcerntoAlembicPharmaLimited,andconsequentialRe-organisationofitsShareCapital,pursuanttoSections391to394readwithSections78and100to104andotherrelevantprovisionsoftheCompaniesAct,1956aswellasreorganizationoftheVadodaraUndertakingofAlembicLimited(definedhereinafter).

1. PREAMBLE A. DESCRIPTION OF COMPANIES TheDemergedCompany viz. Alembic Limited (AL) was incorporated on 30/07/1907,

underthenameandstyleAlembicChemicalWorksCompanyLimitedundertheprovisionsof the IndianCompaniesAct,VIof1882.Thenameof theCompanywaschanged toAlembicLimitedand theDemergedCompanyobtainedanew incorporationcertificateon 31stMay,1999.TheEquitySharesofALarepresentlylistedontheBombayStockExchangeLimited(BSE)andtheNationalStockExchangeofIndiaLimited(NSE).TheDemergedCompanyispresentlyengagedinmanufacturingandmarketingoffermentationandchemistrybasedActivePharmaceuticalsIngredients(API)atVadodaraPlantandisalsoengaged inpowergeneration through its co-generationpowerplant and throughwindmills.TheCompanyisalsoengagedinleasingoutrealestateandholdingcertainstrategicandlongtermInvestments.Itisalsoengagedinmanufacturing,marketingandtradingofbranded&genericFormulationsandActivePharmaceuticalsIngredients(API)atothermanufacturingfacilities.Itisalsoengagedinresearch&developmentactivities.

(a) The Resulting Company viz. Alembic Pharma Limited (APL) was incorporatedon 16/06/2010 under the name and style “Alembic Pharma Limited”. The mainobjectofAPL is tomanufacture,sale,purchase,deal invariouspharmaceuticalsproducts,bulkdrugs,medicines,chemicals,rawmaterials,intermediatesforvariouspharmaceuticalproductsandtoengage inbusinessofhealthcares, life-sciences,researchanddevelopment,contractmanufacturinginIndiaand/orabroad.

B. RATIONALE AND OBJECTIVE OF THE SCHEME OF ARRANGEMENT (a) AlembicLimitedisaleadingpharmaceuticalcompanywithaglobalvision.Alembic

isintothetopbracketofIndianpharmaceuticalcompanieswithmanyofitsbrandsamongstthetopfiveintheirrespectivecategories.Withsuchcompetitiveadvantages,theCompanyisuniquelypoisedinitspursuitofbeingamongstthelargestIndianpharmaceuticalcompanies.Itsbusinesscomprisesof(i)manufacturing,marketingand trading of formulations & bulk drugs (Active Pharmaceutical Ingredients orAPIs)andR&DActivities (thePharmaceuticalUndertaking), (ii)manufactureofpredominantlyfermentationandchemistrybasedbulkdrugs(APIs)atitsVadodaraUndertakingand(iii)powergenerationthroughitsco-generationpowerplantandthroughwindmills(thePowerBusiness).TheCompanyalsohassomerealestateinVadodarawhichcanbepotentiallydeveloped.

(b) ThePharmaceuticalUndertakingispoisedforsignificantgrowth.TheinternationalpharmaceuticalindustryisseeinggreatershareofgenericswithalargenumberofdrugsexpectedtogooffpatentinthenextfewyearsofferingtremendousgrowthopportunitiestowellmanagedandfocusedIndianpharmaceuticalcompanies.Thedomesticpharmaceutical industry isalsowitnessingdoubledigitgrowthridingonincreasingeconomicdevelopment,increasingpercapitaincomeandgreaterfocus

36

onhealthcare.However,inordertocapitalizeontheavailableopportunitiesthereisaneedforspecializedattention, focus,resources,etc.Further thisbusiness iscapableofattractingdifferentsetofinvestors,strategicpartners,lendersandotherstakeholders.Therefore,itisproposedtodemergethePharmaceuticalUndertakinginto a separate company (Alembic Pharma Limited). As a new company thePharmaceuticalUndertakingwillhavethenecessaryindependence,accountabilityand freedom to chart its own course of growth without the legacy of the otherbusinesses/activitiesoftheCompany.

(c) TheVadodaraUndertakingofAlembicLimitedconsistingoftheassets(hereinafterreferredtoas“theAssets”)moreparticularlydescribedinScheduleII isengagedinthebusinessofmanufactureofpredominantlyfermentationandchemistrybasedbulkdrugs(APIs)andiscurrentlygoingthroughmanychallenges.TheVadodaraUndertaking was establishedmany decades ago and hence, some of its plant,machineriesandotherequipmentsareveryold.Further,beinganoldfacility,itisnotdesignedinlinewithpresentregulatoryandbusinessrequirements.ThebusinessisfacingstiffpricecompetitionfromChinesemanufacturers.TheCompanytogetherwithothermanufacturershadappliedforlevyofantidumpingdutyonsuchimports,whichhasnotbeenfavourablyconsideredbytheGovernmentofIndia.Inviewofthissituation theVadodaraUndertakingneeds tobe reorganizedand rightsizedto enable it to survive the competitive pressures. Theactivities of theVadodaraUndertakingwillalsoneedgreaterfocusandotherrestructuringmeasurestomakeitcostefficientandcompetitive.TheAssetsoftheVadodaraUndertakingwhicharecarriedathistoricalcostsdonotreflecttheirtruevalueandithasbecomeimperativetorevaluethemsoastoreflecttheirfairvalues.

(d) TheCompanyownssome landareaatVadodarawhichcanbepotentiallyusedforrealestatedevelopmentinfuture.SimilarlythePowerBusinessalsohasgoodopportunityforgrowthandconsolidation

(e) Therisk-rewardprofileandthecompetition involved ineachof thesebusinessesis distinct from each other and consequently each business or undertaking iscapable of attracting a different set of investors, strategic partners, lenders andotherstakeholders.Therearealsodifferencesinthemannerinwhicheachofthesebusinessesare required tobemanaged.Thedemergerwill create twoseparateentitieswithmanagement focusonclearly laidoutobjectives,pursuant towhichAlembicPharmaLimitedwouldfocusonthePharmaceuticalUndertakingconsistingofthebusinessofmanufacturing,marketingandtradingofformulations&APIsandResearch&DevelopmentactivitiesandAlembicLimitedwouldfocusonitsexistingbusinessandactivitiesotherthanthePharmaceuticalUndertaking.

(f) Itisbelievedthattheproposeddemergerwillcreateenhancedvalueforshareholdersandallowafocusedstrategyinoperations,whichwouldbeinthebestinterestofbothAL&APL,itsshareholders,creditorsandallpersonsconnectedwithALandAPL.Thedemergerproposedby thisSchemeofArrangementwillenable investors toseparatelyholdinvestmentsinbusinesseswithdifferentinvestmentcharacteristicstherebyenablingthemtoselectinvestmentswhichwouldbestsuittheirinvestmentstrategiesandriskprofiles.

(g) Thedemergerwillalsoprovidescopeforindependentcollaborationandexpansionwithoutcommittingtheexistingorganizationinitsentirety.

(h) ThedemergerwillfacilitatemoretransparentbenchmarkingoftheCompanieswiththeirpeersintheirrespectiveindustries.

(i) TheBoardofDirectorsoftheDemergedCompanyandResultingCompanyareoftheopinionthatthedemergerwouldbenefittheshareholders,employeesandotherstakeholdersoftheDemergedCompanyandtheResultingCompany.

(j) With the aforesaid rationale and objectives, it is proposed to demerge AL’sPharmaceuticalUndertaking comprisingmanufacturing,marketingand tradingof

37

Formulations&API and research& development activities fromAL toAPL andreorganizetheVadodaraUndertaking.

C. OPERATION OF THE SCHEME (a) In furtherance of the rationale and objectivesmentioned above, this Scheme of

Arrangementprovidesfor: (i) TheDemergerofthePharmaceuticalUndertakingfromDemergedCompanyto

theResultingCompany; (ii) ThereorganizationofthecapitaloftheDemergedCompanyandtheResulting

Company; (iii) ReorganizationoftheVadodaraUndertakingofAlembicLimited. (b) TheDemergerofthePharmaceuticalUndertakingoftheDemergedCompanyunder

thisSchemeofArrangementwillbeeffectedundertheprovisionsofSections391to394oftheCompaniesAct,1956.TheDemergercomplieswiththeprovisionsofSection2(19AA)oftheIncomeTaxAct,1961,suchthat:

(i) AllthepropertiesofthePharmaceuticalUndertaking(asdefinedhereinafter) beingtransferredbytheDemergedCompanyimmediatelybeforetheDemergerbecomethepropertiesoftheResultingCompanybyvirtueoftheDemerger;

(ii) AlltheliabilitiesrelatabletothePharmaceuticalUndertakingbeingtransferredby theDemergedCompany, immediatelybefore theDemergerbecome theliabilitiesoftheResultingCompanybyvirtueoftheDemerger;

(iii) The properties and the liabilities, if any, relatable to the PharmaceuticalUndertakingbeingtransferredbytheDemergedCompanyaretransferredtotheResultingCompanyatthevaluesappearinginthebooksofaccountoftheDemergedCompanyimmediatelybeforetheDemerger;

(iv) TheResultingCompanyissuessharestotheshareholdersoftheDemergedCompanyinconsiderationoftheDemergeronaproportionatebasis;

(v) AlltheshareholdersoftheDemergedCompanyshallbecometheshareholdersoftheResultingCompanybyvirtueoftheDemerger;and

(vi) ThetransferofthePharmaceuticalUndertakingwillbeonagoingconcernbasis. (c) ThisSchemehasbeendrawnuptocomplywiththeconditionsrelatingto“Demerger”

asspecifiedunderSection2(19AA)oftheIncomeTaxAct,1961.IfanytermsorprovisionsoftheSchemeis/areinconsistentwiththeprovisionsofSection2(19AA)andrelatedprovisionsoftheIncomeTaxAct,1961,theprovisionsofSection2(19AA)andrelatedprovisionsoftheIncomeTax,1961shallprevailandtheSchemeshallstandmodified to the extent necessary to complywithSection 2(19AA) and therelatedprovisionsoftheIncomeTaxAct,1961;suchmodificationshallnotaffectotherpartsoftheScheme.

2. DEFINITIONS: InthisScheme,unlessinconsistentwiththesubjectorcontext,thefollowingexpressionsshall

havethefollowingmeaning:- (a) ‘Act’ means the Companies Act, 1956 including any statutory modifications or re-

enactmentsforthetimebeinginforce. (b) ‘Appointed Date’meansthecommencementof1stdayofApril,2010orsuchotherdate

asmaybeapprovedbytheHighCourtofJudicatureatGujarat; (c) ‘Court’ or ‘High Court’,shallmeanHon'bleHighCourtofGujarat,andshallbedeemed

toincludetheNationalCompanyLawTribunal,ifapplicable. (d) ‘Company’or ‘AL’ or ‘Demerged Company’meansAlembicLimited,a listed limited

companyincorporatedundertheIndianCompaniesActVIof1882andhavingitsRegisteredOfficeatAlembicRoad,Vadodara,Gujarat,India390003.

38

(e) ‘Effective Date'meansthelastofthedatesonwhichthesanctions/approvalsorordersasspecifiedinClauseNo.22ofthisSchemehavebeenobtainedandtheorderoftheHighCourtsanctioningtheSchemeofArrangementisfiledwiththeRegistrarofCompaniesbytheDemergedCompanyandtheResultingCompany.ReferencesinthisSchemetothedateof“comingintoeffectofthisScheme”or“effectivenessofthisScheme”or“Schemebecomingeffective”shallbeconstruedaccordingly.

(f) ‘Pharmaceutical Undertaking’ or ‘Demerged Undertaking’ means the Demerged Company’sundertaking,businessactivitiesandoperationspertainingtopharmaceuticalbusiness other thanVadodaraUndertaking comprising all the assets, (moveable andimmoveable, tangibleor intangible, realorpersonal,corporealor incorporeal,present,futureorcontingent)and liabilities,which relate theretoorarenecessary thereforandincludingspecificallythefollowing:

I) Themanufacturing facilitiesand research&development centreasdescribed inScheduleI-A,togetherwithallthatpiecesorparcelsoffreeholdandleaseholdlands,hereditamentsandpremisessituate, lyingandbeing thereat togetherwithall thebuildingsandstructuresstandingthereonasontheAppointedDate.

II) All secured and unsecured debts, fixed deposits, liabilities (including contingentliabilities),dutiesandobligationsofeverykindandnaturewhatsoeverandhowsoeveraccruing or arising out of and all loans or borrowings raised and incurred andutilized for its businesses, activities andoperationspertaining toPharmaceuticalUndertaking,alongwithanycharge,encumbrance,lienorsecuritythereon,oftheDemergedCompanyasontheAppointedDate(hereinafterreferredtoas'thesaidLiabilities').Allother regionalofficesrelating topharmaceuticalbusinesswhetherownedorleased.

ForthepurposeofthisScheme,itisclarifiedthatliabilitiespertainingtothePharmaceuticalUndertakinginclude:

the liabilities, including contingent liabilities, which arise out of the respectiveactivitiesoroperationsofthePharmaceuticalUndertaking;

specificloansandborrowingsraised,incurredandutilizedsolelyfortherespectiveactivitiesoroperationofthePharmaceuticalUndertaking;

liabilitiesotherthanthosereferredtoinsub-clausesabove,beingtheamountsofgeneral ormultipurposeborrowingsof theDemergedCompany,allocated to thePharmaceuticalUndertakinginthesameproportioninwhichthevalueoftheassetstransferredunderthisSchemebeartothetotalvalueoftheassetsoftheDemergedCompanyimmediatelybeforegivingeffecttothisScheme.

III) AllstrategicinvestmentsoftheDemergedCompanypertainingtoPharmaceuticalUndertakingasdescribedinScheduleI-B.

IV) AllreservesandprovisionsandfundsrelatingtoPharmaceuticalUndertaking. V) Without prejudice to the generality of sub-clause (I) and (II) mentioned above,

the Pharmaceutical Undertaking of the Demerged Company shall include allPharmaceutical Undertaking activities, assets including investments, claims,subsidies, powers, authorities, allotments, approvals, consents, contracts,enactments, arrangements, rights, titles, interests, benefits, advantages, lease-holdrightsandotherintangiblerights,hirepurchasecontractsandassets,lendingcontracts, benefit of any security arrangements, reversions, permits, quotas,entitlements, registrations,constructionand infrastructure registration(s), licences(industrial, software or otherwise), municipal permissions, systems of any kindwhatsoever, rights and benefits of all agreements and other interests includingrightsandbenefitsundervariousschemesofdifferenttaxationlawsasmaybelongto or beavailable to thePharmaceuticalUndertakingactivities of theDemergedCompany,rightsandpowersofeverykind,natureanddescriptionofwhatsoeverprobabilities,liberties,easements,advantagesandapprovalsofwhatsoevernatureandwheresoeversituated,belongingtoorinownership,includingbutwithoutbeing

39

limited to patents, copyrights, brand names, and any other intellectual propertyrights of any nature whatsoever, trade mark except trademark “Alembic”(thetrademark“Alembic”willremainthepropertyoftheDemergedCompany.However,theResultingCompany shall be entitled tomake use of theword “Alembic” forthepurposeof thePharmaceuticalUndertaking), domain names, servicemarks,colourschemes,logos,records,filespapers,engineeringandprocessinformation,quotations, technical know-how, designs, design registrations, authorizations,rightstouseandavailoftelephones,telexes,facsimile,email,internet,leaselineconnections and installations, utilities, electricity and other services, all records,files,papers,computerprograms,manuals,data,catalogues,salesandadvertisingmaterials, listsandotherdetailsofpresentand formercustomersandsuppliers,customer credit information, customerandsupplier pricing informationandotherrecordsinconnectionwithorinrelationtothePharmaceuticalUndertakingoftheDemergedCompanyandallother interestsofwhatsoevernaturebelongingtoorin theownership,power,possession,or thecontroloforvested inorgranted infavouroforheldforthebenefitoforenjoyedbythePharmaceuticalUndertakingofAlembicLimited.

VI) All the employees of the Demerged Company employed in the PharmaceuticalUndertaking,asidentifiedbytheBoardofDirectorsoranyCommitteeorPerson(s)authorizedbytheBoardoftheDemergedCompanyasontheEffectiveDate.

AnyquestionthatmayariseastowhetheraspecifiedassetorliabilitypertainstoordoesnotpertaintothePharmaceuticalUndertaking,orwhetheritarisesoutoftheactivitiesoroperations,shallbedecidedbymutualagreementbetweentheBoardofDirectorsofDemergedCompanyandtheResultingCompany.

(g) ‘Resulting Company’or‘APL’meansAlembicPharmaLimited,apubliclimitedcompany,incorporatedundertheCompaniesAct,1956havingitsRegisteredOfficeatAlembicRoad,Vadodara,Gujarat,India390003.

(h) ‘Record Date’meansthedatefixedbytheBoardofDirectorsoftheDemergedCompanyinconsultationwiththeResultingCompanyforthepurposeofreckoningnamesoftheequityshareholdersoftheDemergedCompany,whoshallbeentitledtoreceivesharesoftheResultingCompanyuponcomingintoeffectofthisSchemeasspecifiedinClause10(a)ofthisScheme.

(i) ‘Remaining Undertaking’ means all the business and all the properties, assets,investmentsandliabilities,employeesoftheDemergedCompanyincludingtheVadodaraUndertaking, Power Business, investments other than Pharmaceutical Undertakingdefinedhereinabove.

(j) 'Scheme'or‘the Scheme’ or ‘this Scheme’meansthisSchemeofArrangementinitspresentformassubmittedtotheHonorableHighCourtofGujaratorthisSchemewithsuchmodification(s),ifanymade,asperClause20oftheScheme.

(k) ‘Vadodara Undetaking’meansandincludesbusinessofmanufacturingandmarketingoffermentationandchemistrybasedActivePharmaceuticalsIngredients(API)atVadodara.ItincludestheassetsmoreparticularlydescribedinScheduleII.

All thetermsandwordsusedbutnotdefinedinthisSchemeshall,unlessrepugnantorcontraryto thecontextormeaning thereof,have thesamemeaningascribed to themunder theAct, theSecuritiesContract(Regulation)Act,1956,theDepositoriesAct,1996,theIncomeTaxAct,1961andotherapplicablelaws,rulesandregulations,bye-laws,asthecasemaybeoranyotherstatutorymodificationsorre-enactmentthereofforthetimebeinginforce.

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3. SHARE CAPITAL A. TheShareCapitalofALason31stMarch,2010(Audited)isasunder: Authorized Capital (Rs.inlacs)

22,50,00,000EquitySharesofRs.2/-each Rs. 4500.00

5,00,000redeemablecumulativePreferenceSharesofRs.100/-each Rs.500.00

Total Rs. 5000.00 Issued and subscribed Capital (Rs.inlacs)

13,84,64,270EquitysharesofRs.2/-each. Rs.2769.29

Total Rs.2769.29 Paid-up Capital (Rs.inlacs)

13,35,15,914EquitysharesofRs.2/-each. Rs.2670.31

Total Rs. 2670.31 TheequitysharesofDemergedCompanyare listedonBombayStockExchangeand

NationalStockExchange. B. TheShareCapitaloftheResultingCompanyason29thJune,2010isasunder: Authorized Capital (Rs.inlacs)

6,00,00,000EquitySharesofRs.2/-each Rs.1200.00

Total Rs.1200.00 Issued, Subscribed and Paid-up (Rs.inlacs)

5,50,00,000EquitySharesofRs.2/-each Rs.1100.00

Total Rs.1100.00 100%oftheshareholdingoftheResultingCompanyisheldbytheDemergedCompany

as on date.

4. TRANSFER OF UNDERTAKING ThePharmaceuticalUndertakingoftheDemergedCompanyasdefinedinClause2(f),shall

standtransferredtoandvestedintheResultingCompany,asagoingconcern,inaccordancewithSection2(19AA)oftheIncomeTaxActandinthefollowingmanner:

(a) Witheffect fromtheAppointedDateandsubject to theprovisionsof thisSchemeandpursuanttotheprovisionsofSections391to394andotherapplicableprovisionsoftheActandinrelationtothemodeoftransferandvesting,alltheassetsandproperties,rights,claims,title,interest,hereditamentsandauthoritiesincludingaccretionsandappurtenancestheretosuchasdividends,orotherbenefitsreceivedofthePharmaceuticalUndertakingoftheDemergedCompanyshall,withoutanyfurtheract,instrumentordeed,beandthesameshallstandtransferredtoand/orvestedinorbedeemedtohavebeenandstandtransferredtoorvestedintheResultingCompanyasagoingconcernsoastobecomeasandfromtheAppointedDate,theestate,rights,titles,hereditamentsandinterestsandauthoritiesincludingaccretionsandappurtenancestheretosuchasdividends,orotherbenefitsreceivablethatoftheResultingCompany.

(b) Witheffect fromtheAppointedDate,andsubject to theprovisionsof thisScheme,allthedebts, liabilitiesincludingentireexistingfixeddepositsoftheDemergedCompany,contingentliabilities,dutiesandobligationsofeverykind,natureanddescriptionoftheDemergedCompanyrelatabletothesaidPharmaceuticalUndertakingoftheDemergedCompanyshallstandtransferredordeemedtohavebeentransferredwithoutanyfurtheract,instrumentordeedoftheResultingCompany,pursuanttotheprovisionsofSections391to394oftheAct,soastobecomeasandfromtheAppointedDate,thedebts,liabilities,contingentliabilities,dutiesandobligationsoftheResultingCompanyandfurtherthatitshall not be necessary to obtain consent of any third party or other personwho is a

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partytothecontractorarrangementsbyvirtueofwhichsuchdebts,liabilities,dutiesandobligationshavearisen,inordertogiveeffecttotheprovisionsofthisClause.

(c) With effect from the Appointed Date and upon the Scheme becoming effective, anystatutory licenses, certificates, clearances,quota,authorities,USFDAapprovals,DMFapprovals,ANDAapprovals,ISOcertifications,trademarks,patents,Intellectualpropertyrights,leases,tenancy,assignments,allotments,powerofattorneygivenby,issuedtoorexecutedinfavouroftheDemergedCompanyinrelationtothePharmaceuticalUndertaking,permissionsorapprovalsorconsentsheldbytheDemergedCompanyrequiredtocarryonoperationsofPharmaceuticalUndertakingshallstandvestedinortransferredtotheResultingCompanywithoutanyfurtheractordeed,andshallbeappropriatelymutatedbythestatutoryauthoritiesconcernedtherewithinfavouroftheResultingCompany.Thebenefitofallstatutoryandregulatorypermissions,environmentalapprovalsandconsents,registrationorother licenses,andconsentsshall vest inandbecomeavailable to theResultingCompanypursuanttotheScheme.Insofarasthevariousincentives,subsidies,rehabilitationschemes,specialstatusandotherbenefitsorprivilegesenjoyed,grantedbyanyGovernmentbody,localauthorityorbyanyotherperson,oravailedofbytheDemergedCompanyrelatingtothePharmaceuticalUndertaking,areconcerned,thesameshallvestwithandbeavailabletotheResultingCompanyonthesametermsandconditionswithoutanyfurtheractordeed,andshallbeappropriatelymutatedbythestatutoryauthoritiesconcernedtherewithinfavouroftheResultingCompany.

(d) ThetransferandvestingofPharmaceuticalUndertakingasaforesaidshallbesubjecttotheexistingsecurities,charges,mortgagesandotherencumbrancesifany,subsistingoverorinrespectofthepropertyandassetsoranypartthereofrelatabletoPharmaceuticalUndertakingtotheextentsuchsecurities,charges,mortgages,encumbrancesarecreatedtosecuretheliabilitiesformingpartofthePharmaceuticalUndertaking.

(e) Alldebentures,bondsorotherdebtsecurities,ifany,oftheDemergedCompanyrelatingto the liabilities comprised in thePharmaceuticalUndertaking, (hereinafter referred toas the “DebtSecurities”)shall,pursuant to theprovisionsofSections391 to394andotherrelevantprovisionsoftheAct,withoutanyfurtheract,instrumentordeed,becometheDebtSecuritiesoftheResultingCompanyonthesametermsandconditionsexcepttotheextentmodifiedundertheprovisionsofthisSchemeandallrights,powers,dutiesandobligationsinrelationtheretoshallbeandstandtransferredtoandvestedinorbedeemedtohavebeentransferredtoandvestedinandshallbeexercisedbyoragainsttheResultingCompanytothesameextentasifitweretheDemergedCompanyinrespectoftheDebtSecuritiessotransferred.

(f) WitheffectfromtheAppointedDate,andsubjecttotheprovisionsofthisSchemealltheEmployeesof thePharmaceuticalUndertakingof theDemergedCompanyshallstandtransferredordeemedtohavebeentransferredwithall theiraccruedliabilitieswithoutanyfurtheract,instrumentordeedoftheResultingCompany,pursuanttotheprovisionsofSections391to394oftheAct,soastobecomeasandfromtheAppointedDate,theemployeesoftheResultingCompanyandfurtherthatitshallnotbenecessarytoobtainconsentofanythirdpartyorotherperson,inordertogiveeffecttotheprovisionsofthisClause.

(g) Withoutprejudice to theotherprovisionsof thisSchemeandnotwithstanding the factthatvestingof thePharmaceuticalUndertakingoccursbyvirtueof thisScheme itself,theResultingCompanymay,atanytimeafterthecomingintoeffectofthisSchemeinaccordancewiththeprovisionshereof,ifsorequiredunderanylaworotherwise,takesuchactionsandexecutesuchdeeds(includingdeedsofadherence),confirmationsorotherwritingsortripartitearrangementswithanypartytoanycontractorarrangementtowhichtheDemergedCompanyisapartyoranywritingsasmaybenecessaryinordertogiveformaleffecttotheprovisionsofthisScheme,theResultingCompanyshallbedeemedtobeauthorisedtoexecuteanysuchwritingsonbehalfoftheDemergedCompanyandtocarryoutorperformallsuchformalitiesorcompliancesreferredtoaboveonthepartoftheDemergedCompanytobecarriedoutorperformed.

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(h) Itisclarifiedthatifanyassets(estate,claims,rights,title,interestinorauthoritiesrelatingtosuchassets)oranycontract,deeds,bonds,agreements,schemes,arrangementsorotherinstrumentsofwhatsoevernatureinrelationtothePharmaceuticalUndertaking,whichtheDemergedCompanyownsortowhichtheDemergedCompanyisapartyandwhichcannotbetransferredtotheResultingCompanyforanyreasonwhatsoever,theDemergedCompanyshallholdsuchassetintrustforthebenefitoftheResultingCompanytowhichthePharmaceuticalUndertakingisbeingtransferredintermsofthisScheme,insofarasitispermissiblesotodo,tillsuchtimeasthetransferiseffected.

(i) Whereanyofthedebts,liabilities,loansraisedandused,liabilitiesandobligationsincurred,dutiesandobligationsoftheDemergedCompanyasontheAppointedDatedeemedtobetransferredtotheResultingCompanyhavebeendischargedbytheDemergedCompanyaftertheAppointedDateanduptotheEffectiveDate,suchdischargeshallbedeemedtohavebeenforandonaccountoftheResultingCompany.

(j) All loans raisedandusedandall liabilitiesandobligations incurredby theDemergedCompanyfortheoperationsofPharmaceuticalUndertakingaftertheAppointedDateanduptotheEffectiveDate,shall,subjecttothetermsofthisScheme,bedeemedtohavebeenraised,usedorincurredforandonbehalfoftheResultingCompanyinwhichthePharmaceuticalUndertakingshallvest in termsof thisSchemeand to theextent theyareoutstandingontheEffectiveDate,shallalsowithoutanyfurtheractordeedbeandstandtransferredtoandbedeemedtobetransferredtotheResultingCompanyandshallbecomethedebts,liabilities,dutiesandobligationsoftheResultingCompanywhichshallmeetdischargeandsatisfythesame.

(k) Withoutprejudicetoclause(a)above,itisexpresslyprovidedthatinrespectofsuchassetsbelongingtoPharmaceuticalUndertakingoftheDemergedCompanyasaremovableinnatureorareotherwisecapableoftransferbymanualdeliveryorbyendorsementanddelivery,thesameshallbesotransferredbytheDemergedCompany,andshallbecomethepropertyoftheResultingCompanyinpursuanceoftheprovisionsofSections391to394andotherapplicableprovisionsofthesaidAct.

(l) theDemergedCompanymay,ifrequired,givenoticeinsuchformasitmaydeemfitandpropertoeachparty,debtorordepositorasthecasemaybethatpursuanttotheHighCourtofGujaratsanctioningtheScheme,thesaiddebt,loan,advance,etc.bepaidormadegoodorheldonaccountoftheResultingCompanyasthepersonentitledtheretoandthattherightoftheDemergedCompanytorecoverorrealisethesamestandsextinguished.

(m) TheResultingCompanymay,ifrequired,givenoticeinsuchformasitmaydeemfitandproper toeachperson,debtorordepositor thatpursuant to theHighCourtofGujarathavingsanctionedtheScheme,thesaidperson,debtorordepositorshouldpaythedebt,loanoradvanceormakegoodthesameorholdthesametoitsaccountandthattherightoftheResultingCompanytorecoverorrealisethesameisinsubstitutionoftherightofthe Demerged Company.

(n) ThedemergerandthetransferandvestingoftheassetscomprisedinthePharmaceuticalUndertakingtoandintheResultingCompanyunderthisclauseshallbesubjecttothemortgagesandcharges,ifany,affectingthesameashereinafterprovided.

(i) The existing securities, mortgages, charges, encumbrances or liens (the“Encumbrances”) or those, if any created by the Demerged Company afterthe AppointedDate, in terms of this Scheme, over the assets comprised in thePharmaceutical Undertaking or any part thereof transferred to the ResultingCompanybyvirtueofthisScheme,shall,aftertheEffectiveDate,continuetorelateandattachtosuchassetsoranypartthereoftowhichtheyrelatedorattachedpriortotheEffectiveDateandasaretransferredtotheResultingCompany,andsuchEncumbrances shall not relate or attach to any of the other assets ofResultingCompanyProvidedhoweverthatnoEncumbrancesshallhavebeencreatedbytheDemergedCompanyinrelationtoanyofthePharmaceuticalUndertakingaftertheAppointedDatewithoutthepriorconsentoftheResultingCompany.

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(ii) InsofarasanyEncumbrancesovertheassetscomprisedinthePharmaceuticalUndertakingaresecurityforliabilitiesoftheRemainingUndertakingretainedwiththeDemergedCompany,thesameshall,ontheEffectiveDate,withoutanyfurtheract, instrumentordeedbemodifiedtotheextent thatallsuchassetsshallstandreleasedanddischargedfromtheobligationsandsecurityrelatingtothesameandtheEncumbrancesshallonlyextendtoandcontinuetooperateagainsttheassetsretainedwiththeDemergedCompanyandshallceasetooperateagainstanyoftheassetstransferredtotheResultingCompanyintermsofthisScheme.Theabsenceofanyformalamendmentwhichmayberequiredbyalenderorthirdpartyshallnotaffecttheoperationoftheabove.

(iii) WithoutprejudicetotheprovisionsoftheforegoingclausesandupontheeffectivenessofthisScheme,theDemergedCompanyandtheResultingCompanyshallexecuteanyinstrumentsordocumentsordoalltheactsanddeedsasmayberequired,includingthefilingofnecessaryparticularsand/ormodification(s)ofcharge,withtheRegistrarofCompanies,Gujarattogiveformaleffecttotheaboveprovisions,ifrequired.

(iv) UponthecomingintoeffectofthisScheme,theResultingCompanyaloneshallbeliabletoperformallobligationsinrespectoftheliabilities,whichhavebeentransferredtothemrespectivelyintermsoftheScheme,andtheDemergedCompanyshallnothaveanyobligationsinrespectofsuchliabilities,andtheResultingCompanyshallindemnifytheDemergedCompanyinrelationtoanyclaim,atanytime,againsttheDemergedCompanyinrespectoftheliabilitieswhichhavebeentransferredtotheResultingCompany.

(v) Itisexpresslyprovidedthat,saveasmentionedinthisClause(n),noothertermorconditionoftheliabilitiestransferredtotheResultingCompanyismodifiedbyvirtueofthisSchemeexcepttotheextentthatsuchamendmentisrequiredbynecessaryimplication.

(vi) SubjecttothenecessaryconsentsbeingobtainedinaccordancewiththetermsofthisScheme,theprovisionsofthisClause(n)shalloperate,notwithstandinganythingtothecontrarycontainedinanyinstrument,deedorwritingorthetermsofsanctionorissueoranysecuritydocument;allofwhichinstruments,deedsorwritingsshallstandmodifiedand/orsupersededbytheforegoingprovisions.

5. CONTRACTS, DEEDS AND OTHER INSTRUMENTS: (a) Subject to the provisions of this Scheme, all contracts, deeds, bonds, agreements,

arrangementsandotherinstrumentsofwhatsoevernaturetowhichthePharmaceuticalUndertakingoftheDemergedCompanyisapartyortothebenefitofwhichPharmaceuticalUndertakingof theDemergedCompanymaybeeligible, andwhichare subsistingorhavingeffectimmediatelybeforetheEffectiveDate,shallcontinue infullforceandeffectagainstorinfavouroftheResultingCompanyasthecasemaybeandmaybeenforcedasfullyandeffectivelyasif,insteadoftheDemergedCompany,theResultingCompanyhadbeenapartyorbeneficiarythereto.TheResultingCompanyshallenterintoand/orissueand/orexecutedeeds,writingsor confirmationsorenter intoa tripartitearrangement,confirmationornovationtowhichtheDemergedCompanywill, ifnecessary,alsobeapartyinordertogiveformaleffecttothisClause,ifsorequiredorbecomenecessary.

(b) Itisclarifiedthatifanyassets(estate,claims,rights,title,interestinorauthoritiesrelatingtosuchassets)oranycontractsdeeds,bonds,agreements,schemes,arrangementsorotherinstrumentsofwhatsoevernatureinrelationtoPharmaceuticalUndertaking,whichtheDemergedCompanyownsortowhichtheDemergedCompanyisapartyandwhichcannotbetransferredtotherelevantResultingCompanyforanyreasonwhatsoever,theDemergedCompanyshallholdsuchassetoranycontractsdeeds,bonds,agreements,schemes,arrangementsorotherinstrumentsofwhatsoevernatureintrustforthebenefitoftheResultingCompanytowhichthePharmaceuticalUndertakingisbeingtransferredintermsofthisScheme,insofarasitispermissiblesotodotillsuchtimeasthetransferiseffected.

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(c) OnandfromtheAppointedDate,ifanycertificatefortaxdeductedorcollectedatsourceoranyothertaxcreditcertificaterelatingtothebusinessofthePharmaceuticalUndertakingis received in thenameof theDemergedCompany, itshallbedeemed tohavebeenreceivedbytherelevantResultingCompanywhichaloneshallbeentitledtoclaimcreditforsuchtaxdeductedorpaid.

(d) TheadvanceincometaxpaidbytheDemergedCompanytothetaxauthoritiescanbeallocatedamongsttheDemergedCompanyandtheResultingCompanyinproportiontothetaxes(netoftaxdeductedatsource)attributabletothetaxableincomeoftherelevantDemergedUndertakinginthebooksofaccountsoftheDemergedCompany.

6. LEGAL PROCEEDINGS: (a) Uponcoming intoeffectof thisScheme,all suits,claims,actionsandproceedingsby

oragainstorinrelationtothePharmaceuticalUndertakingoftheDemergedCompanypendingand/orarisingonorbeforetheEffectivedateshallbecontinuedandbeenforcedbyoragainsttheResultingCompanyaseffectuallyasifthesamehadbeenpendingand/orarisingbyoragainsttheResultingCompany.

(b) IfproceedingsaretakenagainstDemergedCompanyinrespectofthemattersreferredtoinclauseabove,itshalldefendthesameinaccordancewiththeadviceoftheResultingCompanyandatthecostandriskoftheResultingCompany,andthelattershallreimburseandindemnifytheDemergedCompanyagainstallliabilitiesandobligationsincurredbytheDemergedCompany in respect thereof. In respectofsuchdefence, theResultingCompanyshallextendfullandtimelycooperation,includingprovidingrequisiteinformation,personnelandthelike,soastoenableDemergedCompanytodefendthesame.

(c) The Resulting Company also undertakes to reimburse and indemnify the DemergedCompanyagainst invocationofbankguarantee, ifany, relating to thePharmaceuticalUndertakingaftertheAppointedDate.

(d) TheDemergedCompanyandtheResultingCompanyshall,totheextentpossible,co-operatewitheachotherinrespectofanysuchcontest,defence,litigationorsettlementarisinginrespectofthePharmaceuticalUndertakingonoraftertheAppointedDate.

(e) TheResultingCompanywillundertaketohavealllegalorotherproceedingsinitiatedbyoragainstthePharmaceuticalUndertakingoftheDemergedCompanyreferredtoinsub-clause(a)abovetransferredtoitsnameandtohavethesamecontinued,prosecutedandenforcedbyoragainsttheResultingCompany.

(f) All legal, taxation or other proceedingswhether civil or criminal (including before anystatutory or quasi-judicial authority or tribunal) by or against theDemergedCompanyunderanystatute,whetherpendingontheAppointedDateorwhichmaybeinstitutedatanytimethereafter,andineachcaserelatingtotheRemainingUndertaking(includingthoserelatingtoanyproperty,right,power,liability,obligationordutiesoftheDemergedCompanyinrespectoftheRemainingUndertaking)shallbecontinuedandenforcedbyoragainsttheDemergedCompanyaftertheEffectiveDate.TheResultingCompanyshallnotinanyeventberesponsibleorliableinrelationtoanysuchlegal,taxationorotherproceedingagainsttheDemergedCompany,whichrelatetotheRemainingUndertaking.

(g) IfproceedingsaretakenagainsttheResultingCompanyinrespectofthemattersreferredtoinsub-clause(a)above,theResultingCompanyshalldefendthesameinaccordancewith theadviceof theDemergedCompanyandat thecostand riskof theDemergedCompany,andthelattershallreimburseandindemnifytheResultingCompanyagainstall liabilitiesandobligations incurredby theResultingCompany in respect thereof. Inrespectofsuchdefense,theDemergedCompanyshallextendfullandtimelycooperation,including providing requisite information, personnel and the like, so as to enable theResultingCompanytodefendthesame.

7. REMAINING UNDERTAKING OF THE DEMERGED COMPANY TheRemainingUndertakingandall theassets, liabilitiesandobligationspertaining thereto

shallcontinue tobelong toandbevested inandbemanagedby theDemergedCompany,

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(subjectonly in relation toencumbrances in favourofbanksandfinancial institutions).Forthepurposeofclarity,theRemainingUndertakingwillincludebutnotlimitedtoalltheassetssituatedat theVadodaraPlant,Co-generationPowerplants,WindMillPowerproject,StaffColonyatVadodara,MumbaiOfficessituatedatMahimandSaharRoadandDelhiLiasioningOffice,AlembicBusinessPark,otherlandandbuildingsatVadodara.TheResultingCompanymayusethecommonfacilitiesviz.MumbaiOffice,CorporateOfficeetc.afterthedemergeronsuchtermsandconditionsasmaybemutuallyagreedbetweentheDemergedCompanyandtheResultingCompany.AllotherregionalofficesrelatingtoPharmaceuticalUndertakingwhetherownedorleasedwillbetransferredtotheResultingCompany.

8. OPERATIVE DATE OF THE SCHEME ThisSchemethougheffectivefromtheAppointedDateshallbeoperativefromtheEffective

Date.

9. CONDUCT OF BUSINESS BY DEMERGED COMPANY AND RESULTING COMPANY TILL EFFECTIVE DATE:

With effectfromtheAppointedDate,anduptotheEffectiveDate: (i) The Demerged Company shall carry on and shall be deemed to have carried on all

itsbusinessandactivitiesof the PharmaceuticalUndertakingashithertoandshallbedeemedtohaveheldandstoodpossessedoftheUndertakingonaccountof,andforthebenefitofandintrustfortheResultingCompany.

(ii) All theprofitsor incomeaccruingorarising to thePharmaceuticalUndertakingof theDemergedCompanyorexpenditureorlossesarisingorincurred(includingtheeffectoftaxes, ifany, thereon)by thePharmaceuticalUndertakingof theDemergedCompanyshall, forall purposesbe treatedandbedeemed tobeandaccruedas theprofitsorincomeorexpenditureorlossesortaxesoftheResultingCompany,asthecasemaybe.

(iii) ThePharmaceuticalUndertakingofDemergedCompanyshallcarryonitsbusinessandactivities with reasonable diligence, business prudence and shall not, undertake anyadditionalfinancialcommitmentsofanynaturewhatsoever,borrowanyamountsnorincuranyliabilitiesorexpenditure,issueanyadditionalguarantee,indemnities,letterofcomfortorcommitmentseitherforitselforonbehalfofanythirdparty,orselltransfer,alienate,charge,mortgage,encumberorotherwisedealwiththesaidPharmaceuticalUndertakingoranypartthereofexceptintheordinarycourseofbusinessorifthesameisexpresslypermittedbythisSchemeorpursuanttoanypre-existingobligationundertakenbythePharmaceutical Undertaking of theDemergedCompany prior to the AppointedDate,exceptwithpriorwrittenconsentoftheResultingCompany.

Providedthatasfarastheobligationsreferredasaboveareconcerned,therestrictionsthereundershallbeapplicablefromthedateoftheacceptanceofthepresentSchemebytherespectiveBoardofDirectorsoftheDemergedCompanyandResultingCompanyevenifthesamearepriortotheAppointedDate.

(iv) TheDemergedCompanyshall not vary the termsandconditionsandemploymentofemployeesofthe PharmaceuticalUndertakingexceptinthe ordinarycourseofbusinessorwithapprovalofResultingCompany.

(v) TheDemergedCompanyshallnot,withoutpriorconsentoftheResultingCompany,takeanymajorpolicydecisionsinrespectofmanagementofthePharmaceuticalUndertakingotherthaninordinarycourseofbusiness.

(vi) TheDemergedCompany and theResultingCompany shall notmake any change intheirrespectivecapitalstructureeitherbyanyincrease,(byissueofequityorsharesonarightbasis,bonusshares,convertibledebenturesorotherwise)decrease,reduction,reclassification, sub-division or consolidation, reorganisation, or in any other mannerwhichmay,inanyway,affecttheShareExchangeRatio,exceptbymutualconsentoftherespectiveBoardofDirectorsofDemergedCompanyandtheResultingCompanyorexceptasmaybeexpresslypermittedorenvisagedunderthisScheme.

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10. ISSUE OF SHARES AND SECURITIES BY THE RESULTING COMPANY: (a) UpontheSchemebecomingfinallyeffective,inconsiderationofthetransferofandvesting

ofthePharmaceuticalUndertakingoftheDemergedCompanyintheResultingCompany,theResultingCompanyshall,subjecttotheprovisionsoftheSchemeandwithoutanyfurtherapplication,act, instrumentordeed, issueandallotatpar toeverymemberoftheDemergedCompany,holdingfullypaidupEquitySharesintheDemergedCompanyandwhosenameappearsintheRegisterofmembersoftheDemergedCompanyontheRecordDateortohis/herheirs,executors,administratorsorthesuccessors-in-title,asthecasemaybe,inrespectofevery1(One)EquityShareoffacevalueRs.2/-(RupeesTwoonly)eachheldbyhimintheDemergedCompany,1(One)EquityShareoffacevalueRs.2/-(RupeesTwoOnly)eachshallbecreditedasfullypaid-upintheEquityShareCapitaloftheResultingCompany.

(b) Thesaidsharesshallbe issued indematerialized formby theResultingCompany, tothoseshareholderswhosesharesintheDemergedCompanyareindematerializedformandshallbeissuedinphysicalformtothoseshareholderswhosesharesintheDemergedCompanyareinphysicalform,unlessotherwisenotifiedinwritingbytheshareholdersofDemergedCompany to theResultingCompanyonorbeforesuchdateasmaybedeterminedbytheBoardofDirectorsofDemergedCompany. IfanyBonusEquitySharesareissuedbyDemergedCompanytotheEquityShareholdersofDemergedCompanyonor before theRecordDate, necessary adjustments in thenumber of shares to beissuedandtheratiooftheshareswillbemadebytheBoardofDirectorsoftheDemergedCompanyinconsultationwiththeResultingCompany.

(c) Intheeventoftherebeinganypendingsharetransfers,whetherlodgedoroutstanding,ofanyshareholderoftheDemergedCompany,theBoardofDirectorsoranycommitteethereofof theDemergedCompanyshallbeempowered inappropriatecases,prior toorevensubsequenttotheRecordDate,toeffectuatesuchatransferintheDemergedCompanyasifsuchchangesintheregisteredholderwereoperativeasontheRecordDate,inordertoremoveanydifficultiesarisingtothetransferorortransfereeofequitysharesintheResultingCompanyissuedbytheResultingCompanyaftertheeffectivenessofthisScheme

(d) ThesaidnewEquitySharesissuedandallottedbytheResultingCompanyintermsofthisSchemeshallbesubjecttotheprovisionsoftheMemorandumandArticlesofAssociationoftheResultingCompanyandshallrankforvotingrightsandinallotherrespectspari-passuwiththeexistingEquitySharesoftheResultingCompany.

(e) EquitysharesoftheResultingCompanyissuedintermsofclause10ofthisSchememaybelistedand/oradmittedtotradingontheNationalStockExchangeand/ortheBombayStock Exchange and / or any other Stock Exchangewhere the shares of DemergedCompanyare listedand/oradmittedtotradingintermsoftheSEBI(IssueofCapitalandDisclosureRequirements)Regulations(ICDR)2009andcirculars/regulations/rulesordirectionsissuedbySecuritiesandExchangeBoardofIndiaundersection11oftheSecuritiesandExchangeBoardofIndiaAct,1992.TheResultingCompanyshallenterintosuchandgivesuchconfirmationsand/orundertaking asmaybenecessaryinaccordancewiththeapplicablelawsorregulationsforcomplyingwiththeformalitiesofthesaidStockExchanges.OnsuchformalitiesbeingfulfilledthesaidStockexchangesshalllistand/oradmitsuchequitysharesalsoforthepurposeoftrading.

(f) ForthepurposeofissueofequitysharestotheshareholdersoftheDemergedCompany,theResultingCompanyshall,ifandtotheextentrequired,applyforandobtaintherequiredstatutoryapprovalsandotherconcernedregulatoryauthoritiesfortheissueandallotmentbytheResultingCompanyofsuchequityshares.

(g) TheEquitySharestobeissuedbytheResultingCompanypursuanttothisSchemeinrespectofEquitySharesofDemergedCompany,whicharenotfullypaidupshallalsobekeptinabeyanceanddealtwithbytheResultingCompanywhentheybecomefullypaid-up,basedoninformationperiodicallyprovidedbyDemergedCompanytotheResultingCompany.

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(h) Unless otherwise determined by the Board of Directors or any committee thereof ofDemergedCompanyandtheBoardofDirectorsoranycommitteethereofoftheResultingCompany,issuanceofEquitysharesintermsofClause10shallbedonewithin45daysfromtheEffectiveDate.

(i) ForthepurposeofIncomeTaxAct,1961: (i) ThecostofacquisitionofthesharesoftheResultingCompanyinthehandsofthe

shareholdersoftheDemergedCompanyshallbetheamountwhichbearstothecostofacquisitionofsharesheldbytheshareholderintheDemergedCompanythesameproportionasthenetbookvalueoftheassetstransferredintheDemergertotheResultingCompanybearstothenetworthoftheDemergedCompanyimmediatelybeforetheDemergerhereunder.

(ii) The period for which the share(s) in theDemergedCompanywere held by theshareholdersshallbeincludedindeterminingtheperiodforwhichthesharesintheResultingCompanyhavebeenheldbytherespectiveshareholder.

(j) TheissueandallotmentofEquitySharesbytheResultingCompanyasprovidedintheSchemeshallbedeemedtohavebeencarriedoutbyfollowingtheprocedurelaiddownunderSection81(1A)of theCompaniesAct,1956, if applicable,andotherapplicableprovisionsoftheAct.

(k) TheSharesallottedpursuanttotheSchemeshallremainfrozeninthedepositoriessystemtilllisting/tradingpermissionisgivenbytheDesignatedStockExchange.Thereshallbenochange in theshareholdingpatternor control inAlembicPharmaLimitedbetweentherecorddateandthelistingwhichmayaffectthestatusoftheapprovaloftheStockExchange.

(l) NofractionalentitlementsshallbeissuedinfavourofanymemberofDemergedCompanyholdingEquitySharesoftheDemergedCompanyinrespectofthefractionalentitlementsifany,towhichhemaybeentitledonissueorallotmentofthesharesoftheResultingCompanyasaforesaid.TheBoardofDirectorsoftheResultingCompanyshallinsteadconsolidateallsuchfractionalentitlementsandallotsharesinlieuthereoftoadirectororanauthorizedofficeroftheResultingCompanywithexpressunderstandingthatsuchdirectorortheofficershallsellthesameatthebestavailablepriceinoneormorelotsbyprivatesale/placementorbyauctionasdeemedfit(thedecisionofsuchdirectorortheofficerasthecasemaybeastothetimingandmethodofthesaleandthepriceatwhichsuchsalehasbeengiveneffecttoshallbefinal)andpaythesalesproceedstotheResultingCompany.ThenetsaleproceedsthereuponshallbedistributedamongthemembersoftheDemergedCompanyintheproportionoftheirfractionalentitlementsintheResultingCompany.

11. ACCOUNTING BY THE DEMERGED COMPANY AND THE RESULTING COMPANY IN RESPECT OF ASSETS AND LIABILITIES:

11.1 Accounting treatment in the books of the Demerged Company: (a) TheassetsandtheliabilitiesoftheDemergedCompanybeingtransferredtotheResulting

CompanyshallbeatvaluesappearinginthebooksofaccountsoftheDemergedCompanyas ontheclosureofMarch31,2010.

(b) Anamountequivalenttonetbookvalueofthe assets(netofliabilities)ofthePharmaceuticalUndertakingtransferredtotheResultingCompanybytheDemergedCompanyintermsofthisScheme,shallbeappropriatedagainstSecuritiesPremiumaccountoftheDemergedCompany,andaftersuchappropriation,willbefurtherappropriatedagainstGeneralReserveAccount/ProfitandLossAccountoftheDemergedCompanytotheextentrequired.

(c) Thegeneralandmultipurpose loanobtainedby theDemergedCompany fromvariousBankswillbeapportionedbetweentheDemergedCompanyandtheResultingCompanyin the ratio of the value of the assets allocated to both theDemergedCompany andtheResultingCompanyand respectivechargeswillbecreatedover theassetsof therespectiveCompanies.

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(d) ThebookvalueofinvestmentbytheDemergedCompanyinthesharecapitalofResultingCompanywillbecontinuedandshallnotbecancelled.

11.2 Accounting treatment in the Books of the Resulting Company: (a) UponcomingintoeffectofthisSchemeanduponthearrangementbecomingoperative,

theResultingCompanyshallrecordtheassetsandliabilities(includingtheportionoftheLoanobtainedforthePharmaceuticalUndertakingfromvariousBanks)comprisedinthePharmaceuticalUndertakingtransferredtoandvestedinthempursuanttothisScheme,atthesamevalueappearinginthebooksoftheDemergedCompanyas ontheclosureofMarch31,2010.

(b) TheResultingCompanyshallcredit theShareCapitalAccount in its booksofaccountwiththeaggregatefacevalueofthenewequitysharesissuedtotheshareholdersoftheDemergedCompanypursuanttoClause10ofthisScheme.

(c) The excess or deficit, if any, remaining after recording the aforesaid entries shall becreditedbytheResultingCompanytoitsGeneralReserveAccountordebitedtoGoodwill/SecuritiesPremiumAccount,asthecasemaybe.TheGeneralReservecreated,ifany,shallbetreatedforallpurposes,asfreereserve.

(d) On allotment of shares by theResultingCompany in terms of Clause 10 above, theexisting shareholding of theDemergedCompany, in theResultingCompany shall becontinuedasanintegralpartofthisSchemeand hencenoreductionintheShareCapitalwilltakeplace.

(e) TheborrowinglimitsoftheResultingCompanyintermsofSection293(1)(d)readwithSection 293(1)(a) of the Act shall, without any further act, instrument or deed, standenhanced toanamountRs.2000Croresoverandabove itspaidupcapitaland freereserves.

12. REORGANIZATION OF AUTHORISED SHARE CAPITAL 12.1 AUTHORISED SHARE CAPITAL OF THE DEMERGED COMPANY (a) Upon the scheme becoming effective, the existing preference share capital of Rs.5

Croresconsistingof5,00,000PreferenceSharesofRs.100/-eachshallstandreclassifiedasequitysharesofRs.5Croresconsistingof2,50,00,000equitysharesofRs.2/-eachpursuantto16,31,94and394andotherapplicableprovisionsoftheAct,asthecasemaybewithoutanyfurtheract,instrumentordeed.

(b) Upon the scheme becoming effective, the Authorised Share Capital of the DemergedCompany shall stand transferred to the Resulting Company without any further act,instrumentordeedandwithoutpaymentofanyfees,stampdutyetc.totheextentofRs.20,00,00,000(RupeesTwentyCrores)pursuantto16,31,94and394andotherapplicableprovisionsoftheAct,asthecasemaybewithoutanyfurtheract,instrumentordeed.

(c) Consequentially,uponSchemebeingeffective, Clause V of the Memorandum of Association of the Demerged Company (relating

toauthorisedsharecapital) shall,withoutany furtheract, instrumentordeed,beandstandaltered,modifiedandamendedpursuanttoSections16,31,94and394andotherapplicableprovisionsoftheAct,asthecasemaybe,inthemannersetoutbelowandbereplacedbythefollowingclause:

“TheauthorisedsharecapitaloftheCompanyisRs.30,00,00,000/-(Rs.ThirtyCroresonly)divided into15,00,00,000(FifteenCroresOnly)EquitySharesofRs.2/-(RupeesTwoonly)each,withpowertoclassifyorreclassify,increaseorreducethecapitalfromtimetotimeinaccordancewiththeregulationsoftheCompanyandthelegislativeprovisionsforthetimebeinginforceinthisbehalfandwiththepowertodividethesharecapitalforthe timebeing intoseveralclassesand toattach theretorespectivelyanypreferential,qualifiedorspecialrights,privilegesorconditionincludingastovotingandtovary,modifyorabrogatethesameinsuchmannerasmaybedeterminedbyorinaccordancewiththesepresentandtheArticlesofAssociation.”

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12.2 AUTHORISED SHARE CAPITAL OF THE RESULTING COMPANY (a) Upon the scheme being effective, the Authorized Capital of the Resulting Company

shall stand increased byRs.20,00,00,000 (Rupees TwentyCrores)which shall standtransferredfromtheAuthorizedCapitalofDemergedCompanytotheResultingCompanywithoutanyfurtheract,instrumentordeedandwithoutpaymentofanyfees,stampdutyetc.

(b) Upon the scheme being effective, the Authorized Capital of the Resulting CompanyshallstandincreasedbyRs.8,00,00,000(RupeesEightCrores)withoutanyfurtheract,instrumentordeedbutsubjecttopaymentoffeesandstampdutythereon.

(c) Consequentially,uponSchemebeingeffective, (i) ClauseVoftheMemorandumofAssociationoftheResultingCompany(relatingto

authorizedsharecapital)shall,withoutanyfurtheract,instrumentordeed,beandstandaltered,modifiedandamendedpursuanttoSections16,31,94and394andotherapplicableprovisionsoftheAct,asthecasemaybe,inthemannersetoutbelowandbereplacedbythefollowingclause:

“TheAuthorizedsharecapitaloftheCompanyisRs.40,00,00,000/-(RupeesFortyCroresonly)dividedinto20,00,00,000(TwentyCroresOnly)EquitySharesofRe.2/-(RupeeTwoonly)eachwithpowertoclassifyorreclassify,increaseorreducethecapitalfromtimetotimeinaccordancewiththeregulationsoftheCompanyandthelegislativeprovisionsforthetimebeinginforceinthisbehalfandwiththepowertodivided thesharecapital for the timebeing intoseveralclassesand toattachtheretorespectivelyanypreferential,qualifiedorspecialrights,privilegesorconditionincludingas tovotingand to vary,modifyorabrogate thesame in suchmannerasmaybedeterminedbyorinaccordancewiththesepresentandtheArticlesofAssociation.”

12.3 Under the accepted principle of SingleWindowClearance, it is hereby provided thatthe aforesaid alterations in thememorandum and Articles of Association of both theDemergedCompanyandResultingCompanyviz.ChangeintheCapitalClause,referredabove,shallbecomeoperativeontheschemebeingeffectivebyvirtueofthefactthattheShareholdersoftheDemergedCompanyandtheResultingCompanywhileapprovingtheSchemeasawholeatdulyconvenedmeetingsorbyvirtueofwrittenconsentletter,havealsoresolvedandaccordedtherelevantconsentsasrequiredrespectivelyunderSections16,31,94and394oftheCompaniesAct,1956oranyotherprovisionsoftheActandshallnotberequiredtopassseparateresolutionsasrequiredundertheAct.

13. REDUCTION OF SECURITIES PREMIUM AND/OR GENERAL RESERVE OF THE DEMERGED COMPANY.

UpontheSchemebeingfinallyeffective,inviewofthetransferofPharmaceuticalUndertakingbytheDemergedCompany

i. Anamountequivalenttonetbookvalueofassets(netofliabilities)ofthePharmaceuticalUndertakingtransferredtotheResultingCompanybytheDemergedCompanyintermsofthisScheme,shallbefirstlyappropriatedagainstSecuritiesPremiumAccountofDemergedCompanyandaftersuchappropriation,balanceleftifany,willbesecondlyappropriatedagainsttheGeneralReserveAccount/ProfitandLossAccountoftheDemergedCompany.

ii. ItisproposedthattheentireamountofRs.4057.47lacsstandingtothecreditbalanceofSharePremiumAccountinthebooksoftheDemergedCompanyasontheAppointedDate,shallbesoutilizedforthesaidadjustment.

iii. Thesameamountstoreductionofcapitalundersec.78and100oftheCompaniesAct.However,thesameisconsequentialinnatureandisproposedtobeeffectedasanintegralpartof theScheme.Theapprovalof themembersof theDe-mergedCompany to theproposedSchemeattheCourtconvenedmeeting,shallbedeemedtobetheirapprovalundertheprovisionsofSections78,100andallotherapplicableprovisionsoftheActtosuchreductionofcapitaloftheDe-mergedCompanyandtheDe-mergedCompanyshall

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notberequiredtoundertakeanyseparateproceedingsforthesame.TheorderoftheHonorableHighCourtsanctioningtheSchemeshallbedeemedtobeanOrderunderSection102oftheAct.Inviewofthesame,theResultingCompanyshallnotberequiredtoseparatelycomplywithSec.100oranyotherprovisionsofCompaniesAct,1956.TheDe-mergedCompanyshallnotberequiredtoadd“AndReduced”afteritsname.

14. TAXES AllTaxes(includingincometax,salestax,exciseduty,customduty,servicetaxVATetc)paidor

payablebytheDemergedCompanyinrespectoftheoperationsand/orprofitsoftheDemergedCompanybefore theAppointedDate,shallbeonaccountof theDemergedCompanyand,insofaras it relates to the taxpayment (including,without limitation, income tax, sales tax,exciseduty,customduty,servicetax,VATetc),whetherbythewayofdeductionatsource,advancetaxorotherwisehowsoever,bytheDemergedCompanyinrespectoftheprofitsoractivitiesoroperationofthePharmaceuticalUndertakingaftertheAppointedDate,thesameshallbedeemedtobethecorrespondingitempaidbytheResultingCompanyandshall,inallproceedings,bedealtwithaccordingly.

15. DIVIDEND, PROFIT, BONUS, RIGHT SHARES, MANAGEMENT AND ADMINISTRATION: AtanytimeuptotheEffectiveDate (a) TheResulting Company shall not declare/or pay dividends which are interim or final

relatingtoanyperiodcommencingonoraftertheAppointedDateunlessagreedtobytheBoardofDirectorsofboththeCompanies.

(b) TheDemergedCompanyandtheResultingCompany,exceptmentionedotherwiseinthisSchemeshallnotissueorallotanyrightshares,orBonusSharesoranyothersecurityconverting intoEquity or otherShareCapital or obtain any other financial assistanceconvertingintoEquityorotherShareCapital,unlessagreedtobytheBoardofDirectorsofboththeCompanies.

(c) The resolutions relating to Pharmaceutical Undertaking , if any, of The DemergedCompany, which are valid and subsisting on the EffectiveDate, shall continue to bevalidandsubsistingandbeconsideredasresolutionsoftheResultingCompanyandifanysuchresolutionshavean uppermonetaryorother limitsbeingimposedundertheprovisionsoftheAct,oranyotherapplicableprovisions,thenthesaidlimitsshallbevalidandshallconstitutefortheResultingCompany.

16. DEMERGED COMPANY’S EMPLOYEES: OntheSchemetakingeffectasaforesaid,allofficersandemployeesoftheDemergedCompany,

engagedintheactivitiesofthePharmaceuticalUndertakingtobetransferred,inserviceontheEffectiveDate,shallbecometheofficersandemployeesoftheResultingCompanyonsuchdateasiftheywereincontinuousservicewithoutanybreakorinterruptioninserviceandonthe termsandconditionsas to remunerationnot less favourable than thosesubsistingwithreferencetotheDemergedCompanyasonthesaiddate.

It isexpresslyprovided thatas farasProvidentFund,GratuityFund,PensionFundand/orSuperannuationFundorTrustscreatedbythePharmaceuticalUndertakingoftheDemergedCompanyor anyother special funds /Scheme(s) createdor existing for thebenefit of theofficersandemployeesofthePharmaceuticalUndertakingareconcerned,upontheSchemebecomingeffective,theResultingCompanyshallstandsubstitutedfortheDemergedCompanyfor all purposeswhatsoever related to the administration or operation of such Scheme(s)/Fund(s) or in relation to the obligation tomake contribution to the saidSchemes/Funds inaccordance with the provisions of such Schemes/Funds as per the terms provided in therespectiveTrustDeeds.Itistheendintentthatalltherights,duties,powersandobligationsofthePharmaceuticalUndertakingoftheDemergedCompanyinrelationtosuchfundshallbecomethoseoftheResultingCompany.ItisclarifiedthattheservicesoftheofficersandemployeesofthePharmaceuticalUndertakingoftheDemergedCompanywillbetreatedashavingbeencontinuouswithoutanybreakorinterruptionforthepurposeofaforesaidSchemes/Funds.Itis

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however,clarifiedthattheResultingCompanyshallbeeligibleandentitledtoeffectthetransferoftheofficersandemployeesofthePharmaceuticalUndertakingoftheDemergedCompanyinordinaryandusualcourseofbusinessandasperbusinessprudence,theBoardofDirectorsoftheResultingCompanyshallbeeligibletore-assessandtore-allocateanyoftheactivityundertakenbytheemployeesofthePharmaceuticalUndertakingoftheDemergedCompany.UpontheSchemetakingeffect,the PharmaceuticalUndertakingoftheDemergedCompanyshallstandsubstitutedbyTheResultingCompanyforallpurposeswhatsoeverinrelationtotheadministrationoforobligations,right,duties(includingundertherespectiveDeedspertainingthereto)andliabilitiesunderorinrespectoforpertainingtotheProvidentFund,GratuityFund,SuperannuationFund,pensionschemeoranyotherschemeorfundcreatedorexistingforthebenefitoftheemployeesorofficersofthebusinessofPharmaceuticalUndertakingoftheDemerged Company.

AllofficersandemployeesoftheDemergedCompanyengagedintheactivitiesoftheVadodaraUndertakingandtheRemainingUndertakingshallcontinuetoremaininservicewithDemergedCompany.

AllotheremployeesoftheDemergedCompanyworkingattheRegisteredOfficewhocouldnot be specifically identified for thePharmaceuticalUndertaking,will provide their servicestoResultingCompanyforaperiodupto24monthsonsuchtermsandconditionsasmaybemutuallyagreedbetweentheResultingCompanyandtheDemergedCompany.

17. BOARD RECONSTITUTION AtanytimebeforeoraftertheRecordDate,BoardofDirectorsoftheResultingCompanyshall

bereconstitutedsoastocomplywiththeListingrequirements.

18. REORGANISATION OF THE VADODARA UNDERTAKING Subsequenttothedemerger,asontheAppointedDate,theAssetsoftheVadodaraUndertaking

willberevaluedandsucharevaluationwillbedonebyanapprovedvaluerinaccordancewiththeAccountingStandard10issuedbytheInstituteofCharteredAccountantofIndia.ThenetincreaseinnetbookvalueoftheAssetsincludingoutoftherevaluationoftheappurtenantlandoftheVadodaraUndertaking,willbefirstlycrediteddirectlytotheowner’sinterestsundertheheadofRevaluationReserve.ThesaidRevaluationReserveshallberenamedasBusinessRestructuringReservepursuanttotheScheme,tobereferredtoassuchorbyanyothernameandsuchReserveshallbeavailable tomeet thecosts,expenses,and losses, includingonaccountofimpairmentoforwrite-downofassetsoftheVadodaraUndertaking,whichmaybesufferedbyAL,pursuanttothisSchemeorotherwiseincourseofitsbusinessorincarryingoutsuchre-organisationofoperationsofVadodaraUndertakingoranyofitssubsidiaries,astheCompanyconsidersnecessaryorappropriate.SuchReserveshallbearisingoutofthisSchemeandshallnotbeconsideredasareservecreatedbyAL.Depreciation,afterrevaluationwillbechargedontherevaluedamountoftheAssets.

19. APPLICATION TO THE HIGH COURT TheDemergedCompany and theResultingCompany shallmake all applications/petitions

underSections391to394andotherapplicableprovisionsoftheActtotheHon’bleHighCourtofGujaratforsanctioningofthisSchemeofArrangementforcarryingthisSchemeintoeffectandobtainallapprovalsasmayberequiredunderlaw.

20. MODIFICATIONS, AMENDMENTS TO THE SCHEME TheDemergedCompany(bytheirDirectors)andtheResultingCompany(bytheirDirectors)

may in its full and absolute discretion assent from time to time on behalf of all personsconcernedtoanymodificationsoramendmentsoradditiontothisSchemeortoanyconditionsor limitationswhich theHon’bleHighCourt,Gujarat or anyauthoritiesunder theLawmaydeemfittoapproveoforimposeand/ortoresolveanydoubtordifficultiesthatmayarisefor

52

carryingoutthisSchemeandtodoandexecuteallsuchacts,deeds,mattersandthingsasmaybenecessary,desirableorproperforcarryingtheSchemeintoeffect.

ForthepurposeofgivingeffectofthisSchemeortoanymodificationsoramendments,thereof,theDirectorsof theDemergedCompanyand/or theResultingCompanymaygiveandareauthorisedtogiveallsuchdirectionsthatarenecessaryoraredesirableincludingdirectionsforsettlinganydoubtsordifficultiesthatmayarise.

21. SCHEME CONDITIONAL UPON APPROVALS/ SANCTIONS ThisSchemeisspecificallyconditionaluponandsubjectto: (a) TheapprovalofandagreementtotheSchemebytherequisitemajoritiesofsuchclasses

ofpersonsandcreditorsof theDemergedCompanyandResultingCompanyasmaybedirectedbytheHon’bleHighCourtofGujaratontheapplicationsmadefordirectionsunderSections391to394ofthesaidActforcallingmeetingsorotherwiseandnecessaryresolutionsbeingpassed/consentsobtainedundertheActforthepurpose.

(b) ThesanctionsoftheHon’bleHighCourtofGujaratbeingobtainedunderSections391to394andotherapplicableprovisionsoftheAct,ifsorequiredonbehalfoftheDemergedCompanyandResultingCompany.

(c) ThecertifiedcopiesoftheHighcourtordersreferredtointhisSchemebeingfiledwiththeRegistrarofCompanies,Gujarat.

22. EFFECTIVE DATE OF THE SCHEME ThisSchemealthough tocome intooperation fromthe AppointedDateshallnotcome into

effectuntilthelastdateviz.: (a) Thedateonwhichthelastofalltheconsents,approvals,permissionsresolutionssanctions

and/orordersasarehereinabovereferredtohavebeenobtainedorpassed;and (b) Thedateonwhichallnecessarycertifiedcopiesoftheorderundersections391and394

oftheActaredulyfiledwiththeRegistrarofCompanies,GujaratandsuchdateshallbereferredtoasEffectiveDateforthepurposeoftheScheme.

23. EXPENSES CONNECTED WITH THE SCHEME Allcosts,chargesandexpenses,includinganytaxesanddutiesoftheDemergedCompany

andtheResultingCompanyrespectivelyinrelationtoorinconnectionwithorincidentaltothisSchemeandofcarryingoutandcompleting the termsof thisSchemeshallberespectivelyborneandpaidbytheDemergedCompanyandtheResultingCompany.

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Schedule – I-A Manufacturing Facilities and R&D centre of Pharmaceutical Undertaking:

1. Formulation and API manufacturing Facilities situated at Panelav, Taluka Halol, Dist.Panchmahals–389350.

2. FormulationandAPImanufacrutingFacilitiessituatedatVillageKarkhadi,TalukaPadra,Dist.Vadodara

3. FormulationmanufacturingFacilitiessituatedatPlotNo.21,22,EPIP–Phase I, Jharmajri,Baddi,Tehsil–Nalagarh,Dist.Solan,HimachalPradesh.

4. Research&DevelopmentCentresituatedatAlembic-GorwaRoad,Vadodara390003(RevenueSurveyNo.1093/1,NalLand-1(part)andNalLand-2(part)inGorwaVillage,RegistrationDistrictVadodaraSubDistrictVadodara).

Schedule – I-B Investments pertaining to Pharmaceutical Undertaking :

1. Investments in the share capital of Incozen Therapeutics Private Limited.(1000000 equitysharesofthefacevalueofRs.10/-each).

2. Investments in thesharecapital ofAlembicGlobalHoldingSA,awhollyownedsubsidiarycompanyinSwitzerland(100000equitysharesofthefacevalueofCHF1each).

Schedule – II Particulars of the Assets at Vadodara Undertaking

1. ManufacturingfacilitysituatedatAlembicRoad,Vadodara-390003.

2. Co-generationpowerplantsituatedatAlembicRoad,Vadodara-390003.

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Dated this 24thdayofJanuary2011.

WitnessSudhanshuJyotiMukhopadhayaEsquire,TheChiefJusticeatAhmedabadaforesaidthisTwentyFourthdayofJanuaryTwoThousandEleven.

BytheorderoftheCourt Sd/- K.M.Shaikh AdditionalRegistrar(Judicial) This 10thdayofMarch2011

Sd/- N.D.Tekani Sealer This 10thdayofMarch2011

Orderdrawnby: Sd/-(SwatiSaurabhSoparkar) Advocate

301,Shivalik-10,Opp.SBIZonalOffice,NearOldExciseChowky,S.M.Road,Ambavadi,Ahmedabad380015.

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List of Assets, rights, titles of the Pharmaceutical Division (De-merged Undertaking) of ALEMBIC LIMITED including but not limited to as on 24/01/2011 to be transferred to ALEMBIC PHARMA LIMITED, pursuant to the scheme sanctioned by the Hon’ble Gujarat High Court.

Schedule

Part I

Particulars of Freehold Properties

(i) Land: (A) AllthatpieceandparceloflandincludingfollowingRevenueSurveyNumbersinVillage

Panelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows: OnortowardsNorth : PropertyofPaushakLtd.R.S.No.79/p OnortowardsSouth :PropertyofDhirKrushiMangalSociety (R.S.No.149)andPrivateLand(R.S.No.89,90,117,&118) OnortowardsEast :PropertyofPaushakLtd.(R.S.no.79/pandNaliyaRoad OnortowardsWest :VillagePanelavtoTajpuraNaliyaRoad

S.N. Rev.SurveyNo Area(Sq.Mt) Remarks1 82 16896 N.A.Industrial2 83 14872 N.A.Industrial3 84 23978 N.A.Industrial4 87 13152 N.A.Industrial5 88 20032 N.A.Industrial6 119 14731 N.A.Industrial7 120 17402 N.A.Industrial8 121 19931 N.A.Industrial9 131 10623 N.A.Industrial

10 132 10724 N.A.Industrial11 133 14670 N.A.Industrial12 134 14569 N.A.Industrial13 79/A/1 20,000 SubjecttoapprovalsfromRevenue

Department,Gujarat

(B) AllthatpieceandparceloflandincludingfollowingRevenueSurveyNumbersinVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth : PropertyofPaushakLtd.R.S.No.79/p OnortowardsSouth : VillageRoadTajpuratoGopipura OnortowardsEast : PropertyofPaushakLtd.R.S.no.136,145, OnortowardsWest :PropertyofPaushakLtdR.S.no.138&79/p

S.N. Rev.SurveyNo Area(Sq.Mt) Remarks1 79/B/1 8094 SubjecttoapprovalsfromRevenue

Department,Gujarat2 137 15580 N.A.Industrial3 144/1 4500 N.A.Industrial4 144/2 13330 N.A.Industrial5 144/3 2000 N.A.Industrial6 145/1 1315 N.A.Industrial

(approx.)

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(C) AllthatpieceandparceloflandatRevenueSurveyNumber97/2admeasuringapprox.8094sq.mtsinVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth :RevenueSurveyNo.62 OnortowardsSouth :97/1 OnortowardsEast :GocharlandR.S.no.79/p OnortowardsWest :PrivateLandR.S.No.98

(D) All that piece and parcel of land situated at Block No.843/Paiki admeasuring approx.20,653sq.mtsatECPChannelRoad,VillageKarakhadi,TalukaPadra,DistVadodara(Gujarat)boundedasfollows:

OnortowardsEast : PropertyofTarakChemicalsPvt.Ltd. OnortowardsWest : ECPRoad OnortowardsNorth : PropertyofTarakChemicalsPvt.Ltd. OnortowardsSouth : LandbearingBlocknos.30A/830B/831

(E) AllthatpieceandparceloflandsituatedatBlockNo.842admeasuring7373sq.mts.&BlockNo.843admeasuringapprox.81,799sq.mts.locatedatECPChannelRoad,VillageKarakhadi,TalukaPadra,DistVadodara(Gujarat)boundedasfollows:

OnortowardsEast :PropertyofSterlingGelatinLtd. OnortowardsWest :ByBlockno.830/B,831andcartroad OnortowardsNorth :ByEffluentChannelRoad OnortowardsSouth :ByBlocknos.778,777,776,775,773,772,771and753

(F) All that piece and parcel of land situated in portions of Revenue Survey Numbers1101/2(part),1093/1(part)andNalLand-2(part) [whereinNalLand-2 issubject topriorrequisite approvals from Revenue Department, Gujarat] totally admeasuring approx.7981.79 sq. mts. located at Village Gorwa, Behind Alembic Business Park, TalukaVadodara,DistrictVadodora(Gujarat)boundedasfollows:

OnortowardsEast :PrivatePropertyR.S.no.1111&1106 OnortowardsWest :InternalRoadandAlembicBusinessPark OnortowardsNorth :1101/1p OnortowardsSouth :SubhanpuraRevenueSurveyno.97&96

(ii) Building: (A) Allthatindustrialcontructedareasandbuildingstermedas“APIPlant–I”admeasuring

approx.28,638.45sq.mts.builtuparealocatedatportionsofRevenueSurveyno.119,120and121inVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth : InternalRoadandRev.SurveyNo.82,83 OnortowardsSouth : PropertyofDhirKrushiMangalSocietyR.S.no.149&90 OnortowardsEast : FormulationsDivision(R.s.no.133/p&132/p OnortowardsWest : RevenueSurveyno.84

(B) All that industrial contructed areas and buildings termed as “Formulations Division”admeasuringapprox.6733.31sq.mts.builtuparealocatedatportionsofRevenueSurveyno.132,133and134inVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth : InternalRoadandRev.SurveyNo.131 OnortowardsSouth : PrivateProperty(R.S.No.117&118) OnortowardsEast : RevenueSurveyNo.79/A/1 OnortowardsWest : APIPlant–IR.S.no.132/p&133/p

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(C) Allthatindustrialcontructedareasandbuildingstermedas“APIPlant–II”admeasuringapprox.5762.36sq.mts.builtuparealocatedatportionsofRevenueSurveyno.137,144/1,144/2,144/3,145/1inVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth :PropertyofPaushakLtd(R.S.No.79/p) OnortowardsSouth :VillageRoadTajpuraToGopipura OnortowardsEast :PropertyofPaushakLtd(R.S.No.136&145/p2 OnortowardsWest :PropertyofPaushakLtd(R.S.No.138&79/p

(D) AllthatResearchandDevelopmentconstructedareasandbuildingstermedas“Bio-Arccentre”admeasuringapprox.7803sq.mts.BuiltuparealocatedatportionsofRevenueSurveyNumbers1101/2(part),1093/1(part)andNalLand-2(part)[whereinNalLand-2issubjecttopriorrequisiteapprovalsfromRevenueDepartment,Gujarat]totallyadmeasuringapprox.7981.79sq.mts.locatedatVillageGorwa,BehindAlembicBusinessPark,TalukaVadodara,DistrictVadodora(Gujarat)boundedasfollows:

OnortowardsEast : PrivateProperty(R.S.no.1111&1106) OnortowardsWest : InternalroadandAlembicBusinessPark OnortowardsNorth : (R.S.no.1101/p) OnortowardsSouth : SubhanpuraRevenueSurveyno.97&96

(E) Allthatindustrialcontructedareasandbuildingstermedas“KarakhadiPlant”admeasuringapprox.9170.59sq.mts.builtuparealocatedatportionsofBlockNo.843/P,842and843,ECPChannelRoad,VillageKarakhadi,TalukaPadra,DistVadodara(Gujarat)boundedasfollows:

OnortowardsEast : PropertyofSterlingGelatinLtd. OnortowardsWest : ByBlockno.830/B,831andcartroad OnortowardsNorth : ByEffluentChannelRoad OnortowardsSouth : ByBlocknos.778,777,776,775,773,772,771and753

(F) OfficeNo.S-5,ShradhaHouse,Secondfloor,SardarVallabhbhaiPatelMarg(Kingsway),Nagpurhavingbuiltupareaof60.02sq.mtswithundivided1.1212%shareandinterestinthebuildingstanding(ontheSAIDPLOT)thereonknownas“ShradhaHouse”thereinTogetherWithallthatR.C.C.Superstructureandwithallcommonfacilitiesjointlyownedin‘ShradhaHouse’comprisingofsixstoriedcomplexandalsohavingthetwoliftsthereinandOfficeNo.S-5isboundedasunder:

OntheEast : CompoundWallofS.B.I OntheWest : CommonPassage OntheNorth :StairCase OntheSouth :OfficeNo.S-6

(G) OfficeNo.304ontheThirdFlooradmeasuring29.44sq.mtsareainSpectrumCommercialCentre,Nr.ReliefCinema,SalaposeRoad,Ahmedabad-380001asperdetails below:Ward* SurveyNo. Mun.Plotno OfficeNo. Area Mun.Sr.No.Kalupur-3 4023

paiki2 304

(OldNo.4)29.44 sq.mts.

1344/119

*Remarks:SubjecttoapprovalofRevenueDepartment,Gujarat TowardsEast : Passageareaandentrance TowardsWest : BalconyandSalaposeRoadarea TowardsNorth : OfficeNo.303premises TowardsSouth : OfficeNo.305premises

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(H) Allthatindustrialcontructedareasandbuildingstermedas“NeomerDivision”admeasuringapprox.5511.90sq.mts.builtuparealocatedatportionsofRevenueSurveyno.82,83inVillagePanelav,P.O.Tajpura,TalukaHalol,DistPanchmahal(Gujarat)boundedasfollows:

OnortowardsNorth : PropertyofPaushakLtd(R.S.No.79/p) OnortowardsSouth : RevenueSurvey119,121 OnortowardsEast : RevenueSurveyPropertyofPaushakLtd(R.S.no.79/p) OnortowardsWest : RevenueSurvey84

Part II

Particulars of Leasehold Properties

(i) Land: (A) All thatpieceandparcelofLeaseholdLandforninetyfiveyears inPlotNo.21,22and

adjourning areas admeasuring approx. 19,227 sq. mts situated at Export PromotionIndustrialPark, IndustrialArea,PhaseI,JharmajriExportUnit,Baddi,TehsilNalagarh,DistSolan(HimachalPradesh)boundedasfollows:

OnortowardsSouth : Road OnortowardsNorth : River OnortowardsEast : D.S.Industries OnortowardsWest : WiproLtd.

(B) All that pieceandparcel of Leasehold land for ninetynine yearsKhasraNo.209, 210and212,Khatyanno.08admeasuringapprox. 31,136sq.mts situatedatNamliBlock(Ranipool),RumtekIlaka,Gangtok(Sikkim)boundedasfollows:

OnortowardsEast : LandofShriLallBahadurSubba OnortowardsWest : NationalHighway31A&landofShriTulshiSharma OnortowardsNorth : Jhora OnortowardsSouth : Khasmal

(ii) Building: (A) All that industrialcontructedareasandbuildings termedas“BaddiPlant”admeasuring

approx.14,440sq.mts.builtuparealocatedatportionsofPlotNo.21and22situatedatExportPromotionIndustrialPark,IndustrialArea,PhaseI,JharmajriExportUnit,Baddi,TehsilNalagarh,DistSolan(HimachalPradesh)boundedasfollows:

OnortowardsSouth : Road OnortowardsNorth : River OnortowardsEast : D.S.Industries OnortowardsWest :WiproLtd.

Part III

A. ParticularsofInvestmentinShares&Securities

No. of Shares

Description FaceValue CurrentMarketValue

10,00,000 Investments in the share capital ofIncozenTherapeuticsPrivateLimited

Rs.10/–eachTotalRs.1,00,00,000

N.A.sincetheCompanyisnotlisted

1,00,000 Investments in the share capitalof Alembic Global Holding SA, awhollyownedsubsidiarycompany inSwitzerland

CHF1eachTotalCHF 1,00,000

N.A.sincetheCompanyisnotlisted

59

B. ParticularsofBankAccounts

NameofBank BranchAddress Type AccountNo.BankofBaroda Sayajigung,Baroda Cash Credit 261605 00 00 00 03AxisBankLtd Vardhaman Complex, Opp

GEB Race Course Circle (N),Vadodara

Cash Credit 0130103 00 000 300

AxisBankLtd Vardhaman Complex, OppGEB Race Course Circle (N),Vadodara

EEFC 0130202 000 44828

AxisBankLtd Corporate Center, GroundFloor, CTS No. 271, Andheri-KurlaRoad,Andheri(E),Mumbai400059

CurrentAccount 328010200002905

BankofIndia 4/8AsafAliRoad,PostBox7044,NewDelhi–110002


BNPParibas UnitNos.203,SakarII,Ellisbridge,Ahmedabad–380006


CitibankNA 1st Floor, Pelican, Opp RaceCourse Towers, Gotri Road,Baroda


CitibankNA 1st Floor, Pelican, Opp RaceCourse Towers, Gotri Road,Baroda

EEFC 0343127014

DenaBank Mahim,Mumbai CurrentAccount 011211001034HDFCBankLtd Manelaji Wadia Bldg, Ground

Floor,NanikMotwaniMarg,Fort,Mumbai-23


HDFCBankLtd Mehta House, Sai Road, Baddi,TehsilNalagarh,Baddi–173205


HDFCBankLtd Arun Complex, 36, AlkapuriSociety,Baroda

EOU 00330310000580


FD 00330310000570


FD 00332220000229


OverDraft 00330110000144

ICICIBankLtd 1st Floor, Trans Trade Center,Near Floral Deck Plaza, Seepz,Andheri(E),Mumbai400093


ICICIBankLtd LandMark,RaceCourseCircle,Vadodara



FD 000351000091


FD 000305001728

IDBIBankLtd Fauji Complex, Main Sai Raod,Baddi, Himachal Pradesh –173205

Cash Credit 165655100000019

IDBIBankLtd 1stFloor,RCDuttRoad,Alkapuri,Vadodara

Cash Credit 0216551 00 00 00 19

60

INGVysyaBankLtd

RaceCourseCircle,Nr.AlkapuroTelExchange,SwingComplex,Vadodara


TheRoyalBankofScotland

7,Alkapuri,Baroda–390007 CurrentAccount 000002394006


7,Alkapuri,Baroda–390007 CurrentAccount 000007320876


7,Alkapuri,Baroda–390007 EEFC 000007233620


7,Alkapuri,Baroda–390007 PCFC 000007320434

Standard Chartered

90,MGRoadFort,Mumbai CurrentAccount 22205346126

StatBankofPatiala

TehsilNalagarh,DistSolan,HimachalPradesh


StateBankofIndia

58,ShrimailSociety,Navrangpura,Ahmedabad


StateBankofIndia

CargoComplexBranch,SateliteBuilding,Sahar,Mumbai–400099

InternationalCargo

11147701826

StateBankofIndia

NahavashevaPortProject,JawaharCustomHouse,Nahavasheva,NaviMumbai

NhavaSeva 00000010072931351

C. RegistrationwithVariousAuthoritiesunderrespectivelaws,Bodiesetc.includingbutnotlimitedto:

APIManufacturingFacility(OldNirayu)atPanelav

NameofAuthority NatureofRegistration/License

Registration/LicenseNumber

IssuingAuthority:DistrictMagistratePanchmahal,Godhra

Solvent/Reffinate/Slop 18/2005

IssuingAuthority:MinistryofEnvironment&Forest,I.A.Division,NewDelhi

EnvironmentClearance J11011/52/2001-IAII(I)

IssuingAuthority:GujaratPollutionControl,Gandhinager

PollutioncontrolNOC PC/PN-115/25337

IssuingAuthority:NandesariEnvironmentControlLimited,Nandesari,Vadodara

Disposalofwastes Nandesari/25.7.2002

IssuingAythority:VallabhGasAgency,Halol

LPGGasBottle CID–6741

IssuingAythority:BSNL,Halol Telephoneconnection 02676-247516,02676-247099,02676-247067,02676-247255,02676-223468,

61

IssuingAuthority:ISOQAR(India)Pvt.Ltd.

ISOCertification ISO9001-2008:6719QMS001HACCP

IssuingAuthority:AssistantControllerofLegalMetrology,PMS/Dahod

Weighingbalance 76/5077/1978/4174/90

IssuingAuthority:AssistantControllerofLegalMetrology,PMS/Dahod

Weighingweight 75/0872/7637/2336/0522/9955/004698/55

IssuingAuthority:MGVCL LayoutAgreement EI/INS/Plant/696/2009

IssuingAuthority:GUJARATBOILERINSPECTION DEPARTMENT

Boiler MNB/VD/6642

IssuingAuthority:ENERGYANDPETROCHEMICL DEPARTMENT

CONTINUS POWER SUPPLY

GHQ/2010/32CPI/1408/4932/K1

IssuingAuthority:ExplosiveDepartment PetroleumClass-APetroleumClass-B&C

P/HQ/GJ/15/4734(P138612)P/HQ/GJ/15/1943(P12266)

APImanufacturingfacilityatPanelav


Registration/LicenseNo.

IssuingAuthority:FDCAGandhinagar FDALicenseFormulationDivisionAt:Panealv,Tal-Halol,Dist:Panchmahal

G-1411G-1050

IssuingAuthority:GPCBGandhinagar

GPCBConsent 8476

IssuingAuthority:Dy.ChiefControllerofExplosives

PetroleumStorage “A” Class LicensesP/HQ/GJ/15/1399(P10955)

IssuingAuthority:Dy.ChiefControllerofExplosives

PetroleumStorage “B” Class LicensesP/HQ/GJ/15/1400(P10957)

OfficeofJointChiefControllerofExplosives GasCylindersStorage H2 / N2 / NH3 G/WC/GJ/06/1453

MamlatdarHalol L.D.O.Licenses 3109

62

FormulationmanufacturingfacilityatPanelav

NameofAuthority NatureofRegistration LicenseNo/Regn .No.

DistrictMagistateGodhra F.O. Storage & Consumption

58/2005

Petroleum&ExplosiveSafetyorganization (PESO)

ExplosiveLicense P/HQ/GJ/125/4561(P-20172)

MGVCL Permanent Customerno.41213BSNL,Halol Telephoneconnection 02676-247235,

02676-247336,02676-247162,02676-247008,

Weightandmeasurmentdept.,Godhra Weighingbalance&weightscalibration

75/12,75/7475/73,75/7575/76,75/77

GUJARATBOILERINSPECTIONDEPARTMENT

Boiler 1. Boilerno:GT–5876(JNMarshal)2. Boilerno:GT–4597(THERMAX)

APIManufacturingFacility(API-Div.,PlotNo:842/843)atKarakhadi


Registration/LicenseNumber

IssuingAuthority:MinistryofEnvironment&Forest,I.A.Division,NewDelhi

EnvironmentClearance J-11011/776/2007-IAII(I)Dated:20thAugust–2008

IssuingAuthority:GujaratPollutionControl,Gandhinagar

PollutioncontrolConsent&Authorization

LetterNo:GPCB/CCA-VRD-186(2)/6850.Dt:13/03/2008.ConsentOrderNo:10339Dt:12/03/2008.ValiduptoDt:04/11/2012.

IssuingAuthority:NandesariEnvironmentControlLimited,Nandesari, Vadodara

DisposalofSolidwastes Nandesari/04/01/2006

IssuingAuthority:NandesariEnvironmentControlLimited,Nandesari, Vadodara

IncinerationofHazardousWaste

Nandesari/02/03/2007

IssuingAuthority:EICL/VadodaraEnviroInfrastructureCo.Ltd,Vadodara

CommonEffluentTreatmentfacility

EICL/Umraya/11/12/2006Regd.DischargedQuantity:100M3 per Day.

IssuingAuthority:BSNL,Karakhadi-Padra-Vadodara

Telephoneconnection 02662 30070002662 30070102662 300732

IssuingAuthority:ISOQAR(India)Pvt.Ltd.

ISOCertification NA

IssuingAuthority:Mr.NLBORA. Vadodara

Weighingbalance 28

63

IssuingAuthority:Mr.RKJIVRAJANI, Vadodara

Weighingweight 77

IssuingAuthority:MGVCL,ElectricalInspector,Vadodara

LayoutAgreement EI/VDR/INSP/PLAN/074A/cNo.:13515650 KVA

IssuingAuthority:GUJARATBOILER INSPECTION DEPARTMENT

Boiler GT-3906Cap.-03Ton

IssuingAuthority:ENERGYAND PETROCHEMICL DEPARTMENT

CONTINUS POWER SUPPLY

GHU/93/14/ELC/1493/994(i)/K1,Dt:20/07/1993200 KVA

IssuingAuthority:ExplosiveDepartment

PetroleumClass-APetroleumClass-CFO StoragePoisonsChemicalstorage

P/HQ/GJ/15/4809(P122990)ValiduptoDt:31/12/2011.A/P/WB/GJ/15/155(P183739)BRD/4/2007ValiduptoDt:30/04/2011Poison/VC/935/02UptoDt:31/12/2010

ChiefInspectorofFactories FactoryLicense LicenseNo:003315,ValiduptoDecember-2011.

FormulationManufacturingFacilityatBaddi


LicenseNo/Regn.No.

ChiefInspectorofFactories FactoryLicense 9-149/04(fac)LabSr.No.2263DirectorofIndustries,Baddi/Shimla

RegisterationwithDepartmentofIndustries

02/09/129/Regn(L&M)

RegionalPFCommissioner,Shimla

RegisterationwithPFAuthorities

RegionalESIDirector,Parwanoo

RegisterationwithESIAuthorities

HP/14/37/5528/31

LicencingOfficer,Baddi RegisterationCertificateUnderContractLabour&AbolitionAct

LO(Baddi)CLA-PI–43

ChiefElectricalInspector ElectricalConnection LP444MemberSeceratory. Consenttooperate(Water/

AirActsPCB(245)AlembicLimited/09–4261-64

MemberSeceratory. StorageofHazardousWaste

B-069/08

Controller/Asst.Controller. Weightandmeasurement 0298211-12-13-14ChiefInspectorBoiler Boiler HP368, HP369, HP370Chiefcontrollerofexplosives PetrolliumStorage P/HQ/HP/15/718(P150149)Manager-ShivalikSoildwasteManagement(AuthorisedbyPCB)

Agreementofwastesludgemanagement-

N.A

Manager-VatvarnSudhiSansthan(Auth.byPCB)

Agreementforsaleofusedoil

N.A

ChiefFireOfficer-Baddi/Shimla

Fire NOC NOC7425-26

64

AETC,BADDI CST,LST,TIN & SERVICE TAXNO.

1. ServiceTax– AABCA7950PST0142. CSTReg.NO– CST/SOL/III77163. LST Reg.No. LST/SOL/III7764

SLAHimachalPradesh ManufacturingLicense Lic.No.MNB/04/80&MB/04/81SLAHimachalPradesh Productpermission N.ASLAHimachalPradesh WholeSaleLicense Drugs/05/787-NB&

Drugs/05/788-BSLAHimachalPradesh NeutralCode HP/04/171B.S.N.L.Solan Telephoneconnections 01795-271036,271045,271046,

271047, 271048MAADURGAGASAGENCY,PARWANOO

HPCL(HP)19KG5CYLENDER

CON. NO. 504613

INDANE RETAIL COUNTER(IOCL)

2 CYLENDER SV1114711/17.04.004

THEEXCISE&TAXATIONDEPARTMENT,ZIRAKPUR

IDBIBANKGUARANTEE 20006021IBGG0021/27.07.06Rs.276546

PFAuthority PensionFundregistration HP/4651

FormulationLoanLicensePermissions

NameofAuthority NatureofRegistration/License Registration/LicenseNo.

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.ElysiumPharmaLtd.

G/4110A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.BharatParenteralsLtd

G/4128A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.InjectcareParenteralsLtd.,

G/4172A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.TutonPharmaLtd.,

G/1791AG/2020A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.SunijPharmaLtd.,

G/2704AG/3119A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.NaprodLifeScieceLtd

KD-1677-A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.AquilaLabs

G/1100AG/1107A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.PharmanzaLtd

G/3592A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.NorrisPharmaLtd

G/3548A

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.HemaLabsltd

G/1262AG/1318A

IssuingAuthority:FDCAGandhinagar AlembicLimited(Formulation)L/w.M/s.AlembicLtd.,(API)

G/3422A

65

IssuingAuthority:FDCAGandhinagar AlembicLimitedL/w.M/s.DenishLabsLtd

G/1034A

IssuingAuthority:MunicipalCorporationAhmedabad

Alembicltd.,(FoodLic)AT:SunijPharmaLtd

PFA-42

FormulationManufacturingfacilityatPanelav


IssuingAuthority:FDCAGandhinagar

FDALicense,FormulationDivisionAt:Panealv,Tal-Halol,Dist:Panchmahal

G-959G-585


GPCBConsent AWH-31526

APImanufacturingfacilityatPanelav(oldNirayu)




G-663G-974


GPCBConsent 10321

APImanufacturingfacilityatKarkhadi




G-1826G-1283


GPCBConsent 10339

Whole-saleLicenseatVadodaraandPanelav:


IssuingAuthority:FDCAGodhra

Whole-salelicense,Alembicltd.,SurveyNo.131.81,At:Panealv,Tal-Halol,Dist:Panchmahal

20B/61821B/605

IssuingAuthority:FDCAVadodara

Whole-salelicense,Alembicltd.,SurveyNo.256,NearChhaniCanal,Dist:Vadodara

VAD/78383VAD/78384

IssuingAuthority:FDCAVadodara

Whole-salelicense,Alembicltd.,AlembicRoad,Vadodara

VAD/91590VAD/91591

66

FDALicenseatPanelav:


IssuingAuthority:FDCAGodhra

Alembicltd.,(FoodLic),APIDivision–II,At:Panealv,Tal-Halol,Dist:Panchmahal

AC/PMS/1614

AdditionalDistrictMagistrate,Panchmahal,Godhra

Licence for the acquisition, possession andcarryingofArmsorammunitionforprotection.(12BoreRifle–DoubleNalBanduk)

125/XII/Go

FactoriesActrelatedlicenses: AIPmanufacturingfacilityatPanelav



IssuingAuthority:Asst.LabourCommissioneroffice,Godhra

ContractLabourRegistration

16/93

IssuingAuthority:Asst.Dir.Ind.Safety&Healthoffice,Godhra

FactoryLicense 2369

APImanufacturingfacilityatPanelav(OldNirayu)





19/96


FactoryLicense 2343

FormulationmanufacturingfacilityatPanelav





ACL/GDA/CLA/CLR/36/99


FactoryLicense 96155

APIManufacturingfacilityatKarkhadi



IssuingAuthority:Asst.LabourCommissioneroffice,Vadodara


927/06

IssuingAuthority:Asst.Dir.Ind.Safety&Healthoffice,Vadodara

FactoryLicense 3315

MumbaimarketingofficeregistrationundershopsandestablishmentsAct.



InspectorunderBombayShops&EstablishmentsAct,1948

CertificateofEstablishment

KE018918/CommercialIIWard KE

67

Schedule related to Central Excise1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shallstandtransferredtothepossession/ ownership of the Resulting Company for the following Registered Plants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

2. Allrights,benefits,privilegesandclaimsarisingoutofor inrelationtoallsuchgoodsoftheDe-mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

3. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

4. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyCentralExciseAct/Rules/CENVATCreditRules,CustomsAct,CustomsRulesandotherrelatedgoverningandapplicablelawsshallstandtransferredtothepossession/ ownership of the Resulting Company for the following Registered Plants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

ANNEXURE – A

Name of Authority Nature of Registration Registration NumberCentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM007CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM010CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM011CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM012CentralExcise&Customs OperatingasaDealersofExcisable

GoodsAABCA7950PED013

CentralExcise&Customs OperatingasaDealersofExcisableGoods

AABCA7950PXD003

Schedule related to Prohibition & State Excise (Ahmedabad, Vadodara & Godhra (Dist.Panchmahals)1. All licenses, registrations, authorizations, approvals, quotes including the attendant rights

thereto related to Rectified Spirit Rules, Denatured Spirit Rules, Distilleries Rules, MethylAlcohol Rules,MolassesRules & AmmoniumChlorideRules and all Acts/ rules related toStateProhibition&ExcisepresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipof theResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

2. Allfeespaid,depositspaid,rights,benefits,privilegesandclaimsarisingoutoforinrelationtoallsuchgoodsrelatedtoRectifiedSpiritRules,DenaturedSpiritRules,DistilleriesRules,MethylAlcoholRules,MolassesRules&AmmoniumChlorideRulesandallActs/rulesrelatedStateProhibition&Excise of theDe-mergedCompany or any or all of itsDivisions statedhereinaboveatpointnumber1shallstand transferred to thepossession /ownershipof theResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

68

3. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finishedgoods,spares,equipments,wasteandscrapandthelikelyingandallrecords,revenuelocks&NokarnamarelatedtoRectifiedSpiritRules,DenaturedSpiritRules,DistilleriesRules,MethylAlcoholRules,MolassesRules&AmmoniumChlorideRulesandallActs / rules related toStateProhibition&Exciseinthepossession/ownershipoftheDe-mergedCompanyoranyorallof itsDivisions,shallstand transferred to thepossession /ownershipof theResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A

“Annexure – A”

Name of Authority

Nature of Registration

Registration NumberSr.No.

Lic.No. Renewed Date

Renewed Up to.

Prohibition&Excise–Ahmedabad,Vadodara & Godhra(Dist.Panchmahals)

R.S.-II

1 11/07-08 28.03.10 31.03.112 13/10-11 31.03.10 31.03.113 10/10.11 28.03.10 31.03.114 230/10-11 21.06.10 31.03.11

D.S.-V

1 10/05-06 28.03.10 31.03.112 3/10-11 31.03.10 31.03.113 8/10-11 31.03.10 31.03.114 85/09-02-02-10 02.02.10 31.03.11

D.S.-I 1 EXC-2/40/05-06 25.03.10 31.03.11

M.A.-I1 1/09-11 07.02.09 31.03.112 4/09-11 31.03.10 31.03.113 141/09-11 16.02.09 31.03.11

M.A.-II1 1/10-11 31.03.10 31.03.112 31/09-10 13.08.09 31.03.11

A.C.-IIx

1 06/09-10 25.03.10 31.03.112 3/10-11 31.03.10 31.03.113 4/10-11 31.03.10 31.03.114 193/20-11 14.12.10 31.03.115 176/10-11 17.04.10 31.03.11

Schedule Related to “Service Tax”1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforfollowingRegisteredServicesmentionedhereinbelowandmarkedas“Annexure-A”.

2. All rights, benefits, privilegesandclaimsarisingout of or in relation toall suchservicesorgoodsoftheDe-mergedcompanyoranyorallofitsDivisionsstatedhereinaboveatpointno.1shallstandtransferredtothepossession/ownershipoftheResultingCompanyforfollowingregisteredServicesmentionedhereinbelowandmarkedas“Annexure-A”.

3. Allrights,benefits,privilegesandclaiminrespectoftheServicesorgoodsabovementionedatpointNo.1&2whichareintransitoftheDe-mergedCompanyoranyorallonitsdivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforfollowingregisteredservicesmentionedhereinbelowandmarkedas“Annexure-A”.

4. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyinrelationtoServiceTaxAct/Rules/CENVATCreditRulesandother

69

relatedgoverningandapplicable lawsshallstandtransferredto thepossession/ownershipof theResultingCompany for the followingregisteredservicesmentionedhereinbelowandmarkedas“Annexure-A”.

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingregisteredservicesmentionedhereinbelowandmarkedas“Annexure-A”

ANNEXURE–A

Name of Authority

Nature of registration Registration Number

CentralExciseandCustoms(ServiceTaxDepartment)

ServiceTaxRegistration1.ScientificandTechnicalConsultancy 65(105)(za)2.TransportofGoodsbyRoad 65(105)(zzp)3.LegalConsultancyService 65(105)(zzzzm)4.CommercialTrainingandCoaching 65(105)(zzc)5.Test,Inspection,Certificationand/or TechnicalInspectionandCertification

65(105)(zzi)

AABCA7950PST002

1.TransportofGoodsbyRoad 65(105)(zzp)2.ScientificandTechnicalConsultancy 65(105)(za)3.LegalConsultancyService 65(105)(zzzzm)4.CommercialTrainingandCoaching 65(105)(zzc)

AABCA7950PST023

TransportofGoodsbyRoad65(105)(zzp) AABCA7950PST018 TransportofGoodsbyRoad65(105)(zzp) AABCA7950PST021 TransportofGoodsbyRoad65(105)(zzp) AABCA7950PST014 TransportofGoodsbyRoad65(105)(zzp) AABCA7950PST022

Schedule Related to “Narcotics & Psychotropic Substance”1. All rights, benefits and privileges in transit would be otherwise available to theDe-Merged

Companyandshall includeall suchotherbenefitsandconcessionsconferredunderany inrelationtoNarcoticDrugsandPsychotropicSubstancesAct/Rulesandotherrelatedgoverningand applicable laws shall stand transferred to the possession / ownership of theResultingCompanyforfollowingregisteredLicencementionedhereinbelowandmarkedas“Annexure-A”.

2. All goods, import permits, export permits licenses, registrations, authorizations, approvals,quotesincludingtheattendantrightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDe-MergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforfollowingregisteredLicencementionedhereinbelowandmarkedas“Annexure-A”

70

ANNEXURE – A

NameofAuthority Natureofregistration RegistrationNumber

STATE PROHIBITION &EXCISE

D.D.-ILicenceM/s.AlembicLimited,HouseNo.629,ShopNo.4,5and6,ThakkarEstate,BesidesPostOffice,Bajwa,Vadodara–391310.

DD-ILicenceNo.22/2010-11

Schedule Related to “Loan Licencee Units”1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

2. Allrights,benefits,privilegesandclaimsarisingoutofor inrelationtoallsuchgoodsoftheDe-mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

3. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

4. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyCentralExciseAct/Rules/CENVATCreditRules,CustomsAct,CustomsRulesandotherrelatedgoverningandapplicablelawsshallstandtransferredtothepossession/ ownership of the Resulting Company for the following Registered Plants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”

71

ANNEXURE – A

Name of Authority Nature of registration Registration Number

CentralExciseandCustoms

ManufacturingofExcisableGoodsatLoanLicenceeUnits

AADFA0200FXM001AAACB8636NXM001AAAFE6297RXM001AAACG7270KXM001AAFCS2899MXM001AABCI0232JXM002AACFN2912LXM002AAACN1291MXM001AAACN1258lXM002AACFP9910EXM001AAFCS2899MXM001AAAFT8598AXM001AAACC3419NXM001AAACR8613HXM002AAACP2063MXM001AAACZ2089EXM001AAACH0860LXM001AAACD4123CXM001

Schedule related to Professional Tax1. Alllicenses,registrations,authorizations,approvals,quotesincludingtheattendantrightsthereto

presentlyrelatedtoProfessionalTaxMatters,Act,RulesheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipof theResultingCompany for the followingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A

Name of AuthorityNature of Registration Registration Number

Professional Taxstate location P.T. No

Municipal commissioner/ Gram panchayat/ VAT

Gujarat Baroda(company) PEC021009674Gujarat Baroda(employee) PRC021000701Gujarat APIPPanelav E-3570-2096Gujarat APIPkarakhadi E-3570-2096Maharashtra Mumbai PTRC27450370483P

Schedule related to Sales Tax/ VAT / Central Sales Tax1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesbranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A”.

2. Allrights,benefits,privilegesandclaimsarisingoutofor inrelationtoallsuchgoodsoftheDe-mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A”.

3. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisions

72

shallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A”.

4. Allrights,benefitsandprivilegesintransitwouldincludevariousclaimsforSalesTax/VatTax/CentralSalesTax,refundsincludingwouldbeotherwiseavailabletotheDe-MergedCompanyandshall includeall suchotherbenefitsandconcessions conferredunderanySalesTax /VatTax/CentralSalesTaxAct/Rulesandotherrelatedgoverningandapplicablelawsshallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A”.

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A

6. TheAlembicLimitedhadpurchasedRawmaterial,PackingmaterialandconsumablestoreonpaymentoftaxandtheAlembicLimitedisentitledtotaxcreditunderGVATA2003.Whatever,stockofRawmaterial,packingmaterialandconsumablestorestransfertoAlembicPharmaLtd.onthatAlembicPharmaLimitedmustbeentitledtotaxcreditunderGVATA2003.WhereasrestalltaxcreditistobeavailedbyAlembicLtd.irrespectiveofthestockpositiononavailableatAlembicLimitedasitisaccumulatedcarriedforwardtaxcreditforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

7. TheAlembicLtd.hadpurchasedcapitalgoodsandclaimedtaxcreditoncapitalgoodsatrelevanttimeandalsocarriedforwardtaxcreditandthereforesamemustbeavailabletoAlembicLtd.andnopropsenatereductionismade.InotherwordsentiretaxcreditofaccumulatedcarriedtaxcreditexceptRawmaterialpackingmaterialandconsumablestores transfer toAlembicPharmaasmentionedabovewouldbecontinuedtoretainatAlembicLtd.intotoforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

8. AllPurchaseordersissuedinthenameofAlembicLtdbuttheBillBookingistobedoneinthenameofAlembicPharmaLimited,theVATITCisavailabletotheAlembicPharmaLimitedevenifthenameappearingintheTaxInvoiceasAlembicLimitedforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

9. IncaseofissuanceofC/F/HformsinthecircumstancesofinterstatePurchase/Transfer/Export,allFormswouldbeissuedbyAlembicPharmaLimitedonhisbillbookingeventhoughtheBillisappearinginnameofAlembicLimitedforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

10. Incaseofstock in transferoneC&F toanotherC&ForAlembicPharmaLtd toAlembicLimitedisrequiredtobeconsiderasstocktransferofAlembicPharmaLtdtillnewregistrationbyconcernedC&FagentofAlembicLimitedasC&FagentofAlembicPharmaLtdisobtained.In this circumstance theForm “F”will be issuedbyAlembicPharmaLtd.ThisalsoapplieswhenthegoodsisintransitC&FtoC&ForAlembicPharmatoAlembicLtdforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

11. ClosingstockavailablewithC&FofAlembicLimitedwillbetreatedasOpeningStockofAlembicPharmaLimitedwithoutanyTax/VATpaymentforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A.

73

ANNEXURE – AName of Authority Nature of Registration Registration Number

SalesTax/VatTax/Commer-cialTaxes,Excise&Taxation

SalesTax/VatTax/commercialtaxes,Excise&Taxation Tin No Date CST No. Date

state location

Gujarat Baroda 24190302393 01.07.2002 24690302393 28.07.1957

HimachalPradesh Baddi SOL-III-7764 08.10.2004 CST-7716 08.10.2004

M.PIndore 23171001106 01.04.2008 23171001106 01.04.2008

Jabalpur 23171001106 01.04.2008 23171001106 01.04.2008

Goa Goa 30551105008 17.05.2002 M(CST)7535 17.05.2002

Chattisgarh Raipur 22071300956 1.11.2003 22071300956 1.11.2003

Maharastra

Bombay 27450370483V 01.04.2006 27450370483C 01.04.2006

Pune 27450370483V 01.04.2006 27450370483C 01.04.2006

Nagpur 27450370483V 01.04.2006 27450370483C 01.04.2006

Haryana Ambala 6881045034 26.10.2005 6881045034 26.10.2005

Chandigarh Chandigarh 04250013285 19.03.1991 04250013285 19.03.1991

Delhi Delhi 07600017699 05.01.1967 7600017699 05.01.1967

Rajasthan Jaipur 08581702341 23.08.1995 08581702341 23.08.1995

J&k Jammu 01491050181 01.04.2005 01491959181 01.04.2005

Uttaranchal Rudrapur 05004392088 01.11.2005 U. 5032808 01.11.2005

Punjab Zirakpur 03021133584 31.03.2005 61067616 10.12.2004

U.P.

Lucknow 09950102877 20.08.2007 LK-5243179 18.05.1992

Gorakhpur 09950102877 20.08.2007 LK-5243179 18.05.1992

Ghaziabad 09950102877 20.08.2007 LK-5243179 18.05.1992

Andra Pradesh Hyderabad 28930198496 01.04.2005 28930198496 01.04.2005

Andra Pradesh Vijayawada 28830149967 1.05.2005 28830149967 01.05.2005

TamilNadu Chennai 33240800161 01.01.2007 33240800161 01.01.2007

Karnataka Bangalore 29040098930 01.04.2003 29040098930 01.04.2003

Kerala Ernakulam 32070389872 01.04.2005 0703C008987 01.04.2005

WestBengal Howrah 19200075047 01.04.2005 19200075241 01.04.2005

WestBengal Calcutta 19200075047 01.04.2005 19200075241 01.04.2005

Orrisa Cuttack 21111202835 15.03.2005 CUCI(W)0-129 15.03.1966

Bihar Patna 10010263037 01.04.2005 10010263134 01.04.2003

Jharkhand Ranchi 20980300273 01.04.2006 RN (W) 2603 ( C ) 11.11.2002

Assam Guwahati 18410061951 03.03.2006 GWA/CST/2540 03.03.2006

Schedule related to Foreign Trade Policy1. Export House: All licenses, registrations, authorizations, approvals, quotes including the

attendant rights related toExportHouse theretopresentlyheldbyDe-MergedCompany,orlikely tobeheldby theDeMergedCompanyshallstandsimultaneouslyandequally to thepossession / ownershipof theResultingCompany.All theexport performancesofAlembicLtd.fromtheunitsthatarebeingtransferredtoAlembicPharmaLtd.willalsostandtransferredtoAlembicPharmaLtd.,forthepurposeofstatusrecognitionundertheForeignTradePolicy2009-14aswellasforcalculationofannualaverageexportsundertheExportPromotionCapitalGoodsschemeoftheForeignTradePolicy”fortheRegistrationmentionedhereunder.

74

Name of Authority Nature of Registration

Registration No.

1.Jt. Directorate General of Foreign Trade,Vadodara

2.DirectorateGeneralofForeignTrade, NewDelhi

ExportHouse(TradingHouse)

D-0279DT.04.12.09Validupto1.03.2014

2. Advance Licences / Advance Authorizations: All the import entitlements in respect ofexisting import licenceandduty credit entitlements (including those in respectofwhich theclaimshaveaccruedbut notmade) andall export obligation andobligationwhereproof ofexportsaswell realizationofpayment in foreignexchangehavetobesubmitted, inrespectoflicences/authorisations/dutycreditscriptspertainingtoallexportsmadefromtheunitsthatarenowbeingtransferredtoAlembicPharmaLimitedaspartofthede-mergerproposal,shallaccruetoAlembicPharmaLimitedasperfollowinglist.

Name of Authority


Registration No.Sr.No.

Licence File No.No Date

1Jt.DirectorateGeneralof Foreign Trade, Vadodara

2.DirectorateGeneralof Foreign Trade,NewDelhi

AdvanceLicence

1 3410008997 18-11-03 34/21/040/00092/AM-042 3410009189 09-12-03 34/24/040/00009/AM-043 3410011290 23-08-04 34/21/040/00146/AM-054 3410011637 04-10-04 34/21/040/00285/AM-055 3410011684 06-10-04 34/21/040/00271/AM-056 3410012044 25-11-04 34/21/040/00363/AM-057 3410013745 29-06-05 34/24/040/00197/AM-068 3410014215 30-08-05 34/21/040/00347/AM-069 3410014378 20-09-05 34/24/040/00118/AM-06

10 3410014451 28-09-05 34/21/040/00148/AM-0611 3410016993 25-09-06 34/24/040/00154/AM-0712 3410016999 25-09-06 34/24/040/00155/AM-0713 3410017311 06-11-06 34/24/040/00183/AM-0714 3410017776 04-01-07 34/24/040/00203/AM-0715 3410017991 01-02-07 34/21/040/00676/AM-0716 3410018404 23-03-07 34/24/040/00290/AM-0717 3410018454 30-03-07 34/24/040/00301/AM-0718 3410018518 10-04-07 34/24/040/00005/AM-0819 3410018854 28-05-07 34/24/040/00035/AM-0820 3410018932 07-06-07 34/24/040/00045/AM-0821 3410019349 02-08-07 34/24/040/00070/AM-0822 3410019403 13-08-07 34/24/040/00084/AM-0823 3410019404 13-08-07 34/24/040/00085/AM-0824 3410019573 06-09-07 34/24/040/00110/AM-0825 3410019698 25-09-07 34/24/040/00140/AM-0826 3410019933 29-10-07 34/24/040/00158/AM-0827 3410022708 12-11-08 34/24/040/00146/AM-0928 3410022709 12-11-08 34/24/040/00147/AM-0929 3410023222 15-01-09 34/21/040/00516/AM-0930 3410023344 30-01-09 34/24/040/00195/AM-0931 3410023385 04-02-09 34/21/040/00549/AM-09

75



AdvanceLicence

32 3410023681 13-03-09 34/24/040/00223/AM-0933 3410023716 17-03-09 34/24/040/00230/AM-0934 3410023742 18-03-09 34/24/040/00211/AM-0935 3410023881 31-03-09 34/21/040/00610/AM-0936 3410023934 08-04-09 34/21/040/00003/AM-1037 3410023954 09-04-09 34/24/040/00004/AM-1038 3410024018 22-04-09 34/24/040/00242/AM-0939 3410024139 08-05-09 34/24/040/00018/AM-1040 3410024283 28-05-09 34/21/040/00074/AM-1041 3410024500 19-06-09 34/24/040/00041/AM-1042 3410024554 25-06-09 34/21/040/00136/AM-1043 3410024818 03-08-09 34/24/040/00068/AM-1044 3410024899 12-08-09 34/21/040/00218/AM-1045 3410025107 17-09-09 34/24/040/00098/AM-1046 3410025193 25-09-09 34/21/040/00220/AM-1047 3410025329 09-10-09 34/24/040/00108/AM-1048 3410025744 27-11-09 34/24/040/00129/AM-1049 3410025747 30-11-09 34/21/040/00403/AM-1050 3410025775 02-12-09 34/21/040/00355/AM-1051 3410025768 02-12-09 34/21/040/00416/AM-1052 3410025783 03-12-09 34/21/040/00417/AM-1053 3410025784 03-12-09 34/21/040/00137/AM-1054 3410025799 04-12-09 34/24/040/00146/AM-1055 3410025800 04-12-09 34/24/040/00150/AM-1056 3410025796 04-12-09 34/21/040/00415/AM-1057 3410025807 07-12-09 34/24/040/00152/AM-1058 3410025808 07-12-09 34/21/040/00420/AM-1059 3410025838 10-12-09 34/24/040/00156/AM-1060 3410025855 11-12-09 34/24/040/00159/AM-1061 3410025856 11-12-09 34/24/040/00160/AM-1062 3410025888 16-12-09 34/21/040/00441/AM-1063 3410025889 16-12-09 34/21/040/00442/AM-1064 3410025890 16-12-09 34/21/040/00443/AM-1065 3410025973 23-12-09 34/21/040/00445/AM-1066 3410025977 23-12-09 34/24/040/00164/AM-1067 3410025987 24-12-09 34/24/040/00168/AM-1068 3410025988 24-12-09 34/24/040/00169/AM-1069 3410025994 29-12-09 34/24/040/00167/AM-1070 3410026261 03-02-10 34/21/040/00514/AM-1071 3410026555 09-03-10 34/21/040/00583/AM-1072 3410026558 09-03-10 34/24/040/00227/AM-1073 3410026591 12-03-10 34/21/040/00594/AM-1074 3410026592 12-03-10 34/24/040/00229/AM-1075 3410026619 17-03-10 34/24/040/00234/AM-1076 3410026618 17-03-10 34/24/040/00233/AM-1077 3410026639 18-03-10 34/24/040/00235/AM-1078 3410026640 18-03-10 34/24/040/00236/AM-10

76



AdvanceLicence

79 3410026657 19-03-10 34/24/040/00239/AM-1080 3410026852 21-04-10 34/24/040/00007/AM-1181 3410026878 23-04-10 34/24/040/00016/AM-1182 3410026931 29-04-10 34/24/040/00015/AM-1183 3410026932 29-04-10 34/24/040/00020/AM-1184 3410027216 15-06-10 34/24/040/00033/AM-1185 3410027215 15-06-10 34/21/040/00112/AM-1186 3410027389 30-06-10 34/24/040/00070/AM-1187 3410027387 30-06-10 34/24/040/00074/AM-1188 3410027388 30-06-10 34/21/040/00157/AM-1189 3410027430 06-07-10 34/21/040/00166/AM-1190 3410027449 07-07-10 34/24/040/00077/AM-1191 3410027483 09-07-10 34/21/040/00174/AM-1192 3410027486 12-07-10 34/21/040/00180/AM-1193 3410027502 13-07-10 34/24/040/00085/AM-1194 3410027521 16-07-10 34/21/040/00188/AM-1195 3410027575 27-07-10 34/21/040/00191/AM-1196 3410028109 27-09-10 34/24/040/00098/AM-1197 3410028108 27-09-10 34/24/040/00097/AM-1198 3410028120 28-09-10 34/24/040/00112/AM-1199 3410028122 28-09-10 34/21/040/00300/AM-11

100 3410028152 30-09-10 34/24/040/00121/AM-11101 3410028223 07-10-10 34/24/040/00161/AM-11102 3410028241 07-10-10 34/21/040/00235/AM-11103 3410028339 18-10-10 34/21/040/00367/AM-11104 3410028402 22-10-10 34/24/040/00185/AM-11105 3410028407 25-10-10 34/24/040/00178/AM-11106 3410028466 29-10-10 34/24/040/00196/AM-11107 3410028522 04-11-10 34/24/040/00205/AM-11108 3410028523 04-11-10 34/24/040/00208/AM-11109 3410028543 09-11-10 34/21/040/00407/AM-11110 3410028544 09-11-10 34/24/040/00207/AM-11111 3410028595 18-11-10 34/24/040/00206/AM-11112 3410028607 18-11-10 34/24/040/00215/AM-11113 3410028630 22-11-10 34/24/040/00214/AM-11114 3410028613 22-11-10 34/21/040/00418/AM-11115 3410028614 22-11-10 34/21/040/00419/AM-11116 3410028617 22-11-10 34/24/040/00216/AM-11117 3410029124 20-01-11 34/21/040/00534/AM-11118 3410029144 21-01-11 34/21/040/00542/AM-11119 3410029237 02-02-11 34/24/040/00277/AM-11120 3410029298 09-02-11 34/21/040/00584/AM-11121 3410029405 22-02-11 34/24/040/00295/AM1122 - - 34/24/040/00309/AM-11123 3410029402 22-02-11 34/21040/00593/AM-11124 3410029403 22-02-11 34/21/040/00598/AM-11

77

3. DEPB Licences: All the import entitlements in respect of existing duty credit entitlements(includingthoseinrespectofwhichtheclaimshaveaccruedbutnotmade)andwhereproofofexportsaswellrealizationofpaymentinforeignexchangehavetobesubmitted,inrespectoflicences/authorisations/dutycreditscripspertainingtoallexportsmadefromtheunitsthatarenowbeingtransferredtoAlembicPharmaLimitedaspartofthede-mergerproposal,shallaccruetoAlembicPharmaLimited.

4. Focus Market Licences: Alltheimportentitlementsinrespectofexistingdutycreditentitlements(includingthoseinrespectofwhichtheclaimshaveaccruedbutnotmade)andwhereproofofexportsaswellrealizationofpaymentinforeignexchangehavetobesubmitted,inrespectoflicences/authorisations/dutycreditscripspertainingtoallexportsmadefromtheunitsthatarenowbeingtransferredtoAlembicPharmaLimitedaspartofthede-mergerproposal,shallaccruetoAlembicPharmaLimited.

5. NMLFPS – Focus Product Licence:All the importentitlements in respectofexistingdutycreditentitlements(includingthoseinrespectofwhichtheclaimshaveaccruedbutnotmade)andwhere proof of exports aswell realization of payment in foreign exchange have to besubmitted,inrespectoflicences/authorisations/dutycreditscripspertainingtoallexportsmadefrom theunits thatarenowbeing transferred toAlembicPharmaLimitedaspartof thede-mergerproposal,shallaccruetoAlembicPharmaLimited.

6. EPCG Licence (Export Promotion for Capital Goods):AlltheexportperformancesofAlembicLtd.fromtheunitsthatarebeingtransferredtoAlembicPharmaLtd.willalsostandtransferredtoAlembicPharmaLtd.,forcalculationofannualaverageexportsundertheExportPromotionCapitalGoodsschemeoftheForeignTradePolicy,thedetailsoflicences/authorizationsarementionedhereunder

Name of Authority



LicenceFile No.

No. Date1. Jt.

DirectorateGeneralof Foreign Trade, Vadodara

2.DirectorateGeneralof Foreign Trade, NewDelhi

EPCGLicences

1 3430000587 31-05-05 34/21/021/00042/AM062 3430000606 29-06-05 34/21/021/00065/AM063 3430000706 17-11-05 34/21/021/00176/AM064 3430001030 05-04-07 34/21/021/00111/AM075 3430001042 17-05-07 24/21/021/00109/AM076 3430001483 28-05-09 34/21/021/00114/AM097 3430001511 21-07-09 34/21/021/00052/AM098 3430001428 03-03-09 34/21/021/00212/AM09

7. SFIS Licences (Served from India):Alltheimportentitlementsinrespectofexistingdutycreditentitlements(includingthoseinrespectofwhichtheclaimshaveaccruedbutnotmade)andwhereproofofexportsaswellrealizationofpaymentinforeignexchangehavetobesubmitted,inrespectofdutycreditscripspertainingtoallexportsmadefromtheunitsthatarenowbeingtransferred to Alembic Pharma Limited as part of the de-merger proposal, shall accrue toAlembicPharmaLimited,thedetailsoflicences/authorizationsarementionedhereunder.

78

Name of Authority



File No.Licence

No. Date1. Jt.

DirectorateGeneralof Foreign Trade, Vadodara

2.DirectorateGeneralof Foreign Trade, NewDelhi

SFIS Licences

1 34/21/071/00008/AM08 3410020528 02-01-082 34/21/071/00008/AM08 3410020529 02-01-083 34/21/071/00008/AM08 3410020530 02-01-084 34/21/071/00006/AM09 3410023839 26-03-095 34/21/071/00006/AM09 3410023840 26-03-096 34/21/071/00012/AM10 3410027493 12-07-107 34/21/071/00012/AM10 3410027494 12-07-108 31/21/071/00004/AM11 3410029295 09-02-119 31/21/071/00004/AM11 3410029296 09-02-11

10 31/21/071/00004/AM11 3410029297 09-02-11

8. SHIS Licence (Status Holder Incentive Scheme):All theexportperformancesofAlembicLtd.fromtheunitsthatarebeingtransferredtoAlembicPharmaLtd.willalsostandtransferredtoAlembicPharmaLtd.,forthepurposeofStatusHolderIncentiveSchemeundertheForeignTradePolicy2009-14.

9. IEC Code (Importer-Exporter Code): All licenses, registrations, authorizations, approvals,quotesincludingtheattendantrightsrelatedtoImporter-ExporterCodetheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandsimultaneouslyandequallytothepossession/ownershipoftheResultingCompanyasmentionedhereunder.

Name of Authority Nature of Registration Registration No.

1.Jt.DirectorateGeneralofForeignTrade,Ahmedabad

2.DirectorateGeneralofForeignTrade, NewDelhi

IECCertificate 0888002351 dt.02.12.10

10. RCMC (Registration Cum Membership Certificate):Alllicenses,registrations,authorizations,approvals,quotesincludingtheattendantrightsrelatedtoPharmexcil,Chemexcil,FIEOtheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandsimultaneouslyandequallytothepossession/ownershipoftheResultingCompany,asmentionedhereunder

Name of Authority Nature of Registration Registration No.PharmaceuticalsExportPromotionCouncil,

Hydrerabad,Ahmedabad

Pharmexcil(ManufacturerExporter)

PXL/LSM/VII/2665Validupto31.03.14

Pharmexcil(MerchantExporter)

PXL/ME/VII/2674Validupto31.03.14

BasicChemicalsPharmaceuticals&CosmeticsExport

PromotionCouncil,Mumbai,Ahmedabad

Chemexcil(ManufacturerExporter)

CHEM/AHD/A-205/P-II/08-09/715Validupto31.03.13

Chemexcil(MerchantExporter)

CHEM/AHD/A-204/ME/08-09/714Validupto31.03.13

FederationofIndianExportOrganizations,NewDelhi,

Ahmedabad

FIEO (ManufacturerExporter)

3014/2008-09Validupto31.03.14

FIEO (ServiceProvider)

228/2010-11Validupto31.03.11

79

11. Digital Signature Key for online Application:

Name of Authority Nature of Registration Registration No.SafescryptIndia

(Devinfotech,Ahmedabad)DigitalSignatureKeyforonline

ApplicationSunilJagtianiValidupto29.07.11Sherly.GValidupto25.07.11

Schedule related to Legal Cases (Central Excise & Customs, VAT & Income Tax All the rights,benefits,privilegesandclaim in respectof thecasesmentionedbelowof the

De-mergedCompanyoranyorallof itsDivisionshallstandtransferred to thepossession /ownershipoftheResultingCompany.

Schedule related to ImportsA. Imports:1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapimportsrelatedtothefollowingsuchas: (1) WherePurchaseOrdersareplacedbutGoodsarenotImported (2) WherePurchaseOrdersareplaced,GoodsareImportedbutBillofEntryisnotfiled (3) WherePurchaseOrdersareplaced,GoodsareImported,BillofEntryisfiledbutGoods

areunderCustomsClearances (4) WherePurchaseOrdersareplaced,GoodsareImported,BillofEntryisfiled,Goodsare

Clearedfromcustoms,andareundertransitwithinIndia (5) AllForeignTradePolicy/ForeignTradeProceduresLicences/Authorisationregistrations

atvariousPorts. Inthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shall

standtransferredtothepossession/ownershipoftheResultingCompany.2. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,

rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailable to theDe-MergedCompany related toall importsandshall includeall suchotherbenefitsandconcessionsconferredunderanyCentralExciseAct /Rules /CENVATCreditRules,CustomsAct,CustomsRulesandother relatedgoverningandapplicable lawsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

Schedule related to Exports1. Exports:1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapexportsrelatedto; (1) WhereCustomersOrderarereceived,Goodsarenotexported (2) WhereCustomersOrderarereceived,GoodsareexportedbutShippingBillisnotfiled (3) WhereCustomersOrderarereceived,Goodsareexported,ShippingBillisfiledbutGoods

areunderCustomsClearance (4) WhereCustomersOrderreceived,GoodsareexportedandShippingBillisfiledbutGoods

areclearedfromcustomsandareundertransit. (5) AllForeignTradePolicy/ForeignTradeProceduresLicences/Authorisationregistrations

atvariousPorts (6) FactoryStuffingpermissionofContainers Inthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shall

standtransferredtothepossession/ownershipoftheResultingCompany.

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2. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailable to theDe-MergedCompany related toallexportsandshall includeall suchotherbenefitsandconcessionsconferredunderanyCentralExciseAct /Rules /CENVATCreditRules,CustomsAct,CustomsRulesandother relatedgoverningandapplicable lawsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

Schedule related to Annual Production Program (APP) All licenses, registrations, authorizations, approvals, quotes including the attendant rights

theretopresentlyheldbyDe-MergedCompanyorlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesmentionedhereinbelowandmarkedas“Annexure–A”.

“ANNEXURE–A”Sr. No.

NatureofAuthority NatureofRegistration

APP .No. APPIssuedDate

01 IndustriesofficeUdyogBhavan,GandhinagarCommissionerate

Spirit(Alcohol)AnnualProductionProgram

IC/MSME/Alcohol/APP/209 23.01.0902 IC/MSME/Alcohol/APP/1934 02.05.0903 IC/MSME/Alcohol/APP/2418 29.05.0904 IC/MSME/Alcohol/APP/313 06.02.1005 IC/MSME/Alcohol/APP/564506 14.02.1106 IC/MSME/Alcohol/APP/564507 14.02.1107 IC/IM/Alcohol/APP/F-1008/550 26.04.0508 IC/SSI/Alcohol/APP/F-747 19.11.0509 IC/SSI/Alcohol/APP/F-4844 07.09.0610 IC/SSI/Alcohol/APP/F-6604 16.12.0611 IC/SSI/Alcohol/APP/1008/1602 29.03.0712 IC/MSME/Alcohol/APP/F-4190 19.11.0913 IC/MSME/Alcohol/APP/F-2481 23.01.0914 IC/MSME/Alcohol/APP/504504 14.02.1115 IC/MSME/Alcohol/APP/498360 01.02.11

Schedule Related to Income Tax

Name of Authority Nature of Registration Registration NumberDepartmentofScientificandIndustrialResearch

RecognitionofR&DFacilitiesatAlembicRoad,Baroda

FNo–TU/IV-RD/507/2010dated14.02.2011(Validupto31.03.2011)

DepartmentofScientificandIndustrialResearch

RecognitionofR&DFacilityatKhadkhadi

FNo–TU/IV-RD/507/2010dated14.02.2011(Validupto31.03.2013)

Registration Numbers related to R&D Facilities which are transferred pursuant to scheme of demerger:

a. R&DapprovalfromDSIRforBarodaR&Dfacilities:Theapprovalisgrantedupto31.03.2011byorderfromDSIR,Delhivideno:FNo–TU/IV-RD/507/2010dated14.02.2011.(Validupto31.03.2011)

b. R&DfacilityatKhadkhadiPlant:Theapprovalisgrantedupto31.03.2013byorderfromDSIR,Delhivideno:FNo–TU/IV-RD/507/2010dated14.02.2011.(Validupto31.03.2013)

Other points pursuant to scheme of demerger:a. The benefits as available to M/s Alembic Ltd as per Income Tax Act, 1961 in respect of

manufacturingfacilityatBaddi,HPshallbeavailabletoM/sAlembicPharmaLimitedpursuanttoschemeofdemerger.

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b. ThebenefitsasavailabletoM/sAlembicLimitedforweighteddeductioninrespectofrevenueandcapitalexpenditureu/s35(2AB)shallbeavailabletoM/sAlembicPharmaLtdonaccountoftransferofR&Dfacilitiesinpursuanttoschemeofdemerger.

c. IfanycertificatefortaxdeductedatsourceorcollectedatsourceoranyothertaxcreditrelatingtothebusinessofPharmaceuticalsUndertakingisreceivedinthenameofM/sAlembicLimited,itshallbedeemedtohavebeenreceivedbyM/sAlembicPharmaLimitedwhichaloneshallbeentitledtoclaimthecreditforsuchtax.

d. TheadvancetaxpaidbyM/sAlembicLimitedtotaxauthoritiesshallbeallocatedtoM/sAlembicLtdandM/sAlembicPharmaLtd in theproportionof taxes (netof taxdeductedatsource)attributabletothetaxableincomeoftherespectivecompanies.

e. Theunabsorbed losses/deprecationshallbeallocated toM/sAlembicLtdandM/sAlembicPharmaLtdintheproportionofassetsasstipulatedinSection72A(4)oftheIncomeTaxAct,1961.

f. ThedepreciationeligibleasperIncomeTaxAct,1961shallbeavailabletoM/sAlembicLtdandM/sAlembicPharmaLtdbasedontheassetsretainedbytherespectivecompanies.

g. TheotherbenefitasavailabletoundertakingsofM/sAlembicLtdwhichwillbetransferredtoM/sAlembicPharmaLtdshallbeavailabletoAlembicPharmaLtd.

Schedule related to Exports DBK (All Industry Rate) DBK(Allindustryclaims)whicharereceivedortobereceived,maybetransferredtoAPLafter

theprocessofDe–merger.

Schedule related to Exports – DBK (Brand Rate) DBK(BrandRateClaims)whicharereceivedortobereceived,maybetransferredtoAPLafter

theprocessofDe–merger.

Schedule related to Factory Stuffing Permission All licenses, Authorisations, Factory Stuffing Permission, Port Registrations of Advance

Authorisations,D.F.I.A.,otherDutyFreeImportAuthorisationsorExportlicenses/Authorisations,approvals,quotesincludingtheattendantrightstheretopresentlyheldbyDe-MergedCompany,or likely to be held by theDe-MergedCompany shall stand transferred to the possession/ownershipoftheResultingCompanyasperAnnexure–Agivenbelow:

ANNEXURE – AName of Authority Nature of Registration Registration Number

CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM007CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM010CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM011CentralExcise&Customs ManufacturingofExcisableGoods AABCA7950PXM012

Schedule Related to “Loan Licencee Units Rebates” All rights, benefits and privileges in transit would include various claims for Cenvat Credit,

rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyCentralExciseAct/Rules/CENVATCreditRules,CustomsAct,CustomsRulesandotherrelatedgoverningandapplicablelawsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

Schedule Related to Import Licence Form 9, 10 & Form 41 Details Allrights,benefits,privilegesandclaiminrespectoftheDrugsLicencewhichareintransitof

theDe-mergedCompanyoranyorallonitsdivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

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Schedule related to Test Licence Allrights,benefits,privilegesandclaiminrespectoftheTestLicenceswhichareintransitof

theDe-mergedCompanyoranyorallonitsdivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

Schedule Related “Service Tax Rebates – Refunds”1. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,

rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyinrelationtoServiceTaxAct/Rules/CENVATCreditRulesandotherrelatedgoverningandapplicable lawsshallstandtransferredto thepossession/ownershipoftheResultingCompany,RebatependingunderNoti.11/2005-ST,RefundclaimfiledunderNoti.41/2007-STandRefundclaimfiledunderNoti.17/2009-ST.

Schedule related to Sales Tax/ VAT / Central Sales Tax / Consignee & Forwarding Agents and Consignee Agents

1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finishedgoods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/Warehousesbranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”.

2. Allrights,benefits,privilegesandclaimsarisingoutofor inrelationtoallsuchgoodsoftheDe-mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

3. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

4. Allrights,benefitsandprivilegesintransitwouldincludevariousclaimsforSalesTax/VatTax/CentralSalesTax,refundsincludingwouldbeotherwiseavailabletotheDe-MergedCompanyandshall includeall suchotherbenefitsandconcessions conferredunderanySalesTax /VatTax/CentralSalesTaxAct/Rulesandotherrelatedgoverningandapplicablelawsshallstand transferred to thepossession /ownershipof theResultingCompany for the followingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompanyforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

6. TheAlembicLimitedhadpurchasedRawmaterial,PackingmaterialandconsumablestoreonpaymentoftaxandtheAlembicLimitedisentitledtotaxcreditunderGVATA2003.Whatever,stockofRawmaterial,packingmaterialandconsumablestorestransfertoAlembicPharmaLtd.onthatAlembicPharmaLimitedmustbeentitledtotaxcreditunderGVATA2003.WhereasrestalltaxcreditistobeavailedbyAlembicLtd.irrespectiveofthestockpositiononavailableatAlembicLimitedasitisaccumulatedcarriedforwardtaxcreditforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

7. TheAlembicLtd.hadpurchasedcapitalgoodsandclaimedtaxcreditoncapitalgoodsatrelevanttimeandalsocarriedforwardtaxcreditandthereforesamemustbeavailabletoAlembicLtd.

83

andnopropsenatereductionismade.InotherwordsentiretaxcreditofaccumulatedcarriedtaxcreditexceptRawmaterialpackingmaterialandconsumablestores transfer toAlembicPharmaasmentionedabovewouldbecontinuedtoretainatAlembicLtd.intotoforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

8. AllPurchaseordersissuedinthenameofAlembicLtdbuttheBillBookingistobedoneinthenameofAlembicPharmaLimited,theVATITCisavailabletotheAlembicPharmaLimitedevenifthenameappearingintheTaxInvoiceasAlembicLimitedforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–AAnnexure–B

9. IncaseofissuanceofC/F/HformsinthecircumstancesofinterstatePurchase/Transfer/Export,allFormswouldbeissuedbyAlembicPharmaLimitedonhisbillbookingeventhoughtheBillisappearinginnameofAlembicLimitedforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

10. Incaseofstock in transferoneC&F toanotherC&ForAlembicPharmaLtd toAlembicLimitedisrequiredtobeconsiderasstocktransferofAlembicPharmaLtdtillnewregistrationbyconcernedC&FagentofAlembicLimitedasC&FagentofAlembicPharmaLtdisobtained.In this circumstance theForm “F”will be issuedbyAlembicPharmaLtd.ThisalsoapplieswhenthegoodsisintransitC&FtoC&ForAlembicPharmatoAlembicLtdforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

11. ClosingstockavailablewithC&FofAlembicLimitedwillbetreatedasOpeningStockofAlembicPharmaLimitedwithoutanyTax/VATpaymentforthefollowingRegisteredPlants/WarehousesBranches/C&FAgentsmentionedhereinbelowandmarkedas“Annexure–A&Annexure–B”

ANNEXURE – AName of Authority

Nature of Registration Registration Number

SalesTax/VatTax/CommercialTaxesExcise&Taxation

SalesTax/VatTax/commercialtaxes,Excise&Taxation Tin No Date CST No. Date

state location

Gujarat Baroda 24190302393 01.07.2002 24690302393 28.07.1957

HimachalPradesh Baddi SOL-III-7764 08.10.2004 CST-7716 08.10.2004

M.PIndore 23171001106 01.04.2008 23171001106 01.04.2008

Jabalpur 23171001106 01.04.2008 23171001106 01.04.2008

Goa Goa 30551105008 17.05.2002 M(CST)7535 17.05.2002

Chattisgarh Raipur 22071300956 1.11.2003 22071300956 1.11.2003

Maharastra

Bombay 27450370483V 01.04.2006 27450370483C 01.04.2006

Pune 27450370483V 01.04.2006 27450370483C 01.04.2006

Nagpur 27450370483V 01.04.2006 27450370483C 01.04.2006

Haryana Ambala 6881045034 26.10.2005 6881045034 26.10.2005

Chandigarh Chandigarh 04250013285 19.03.1991 04250013285 19.03.1991

Delhi Delhi 07600017699 05.01.1967 7600017699 05.01.1967

Rajasthan Jaipur 08581702341 23.08.1995 08581702341 23.08.1995

J&k Jammu 01491050181 01.04.2005 01491959181 01.04.2005

Uttaranchal Rudrapur 05004392088 01.11.2005 U. 5032808 01.11.2005

84

SalesTax/VatTax/CommercialTaxesExcise&Taxation

Punjab

Zirakpur 03021133584 31.03.2005 61067616 10.12.2004

Lucknow 09950102877 20.08.2007 LK-5243179 18.05.1992

Gorakhpur 09950102877 20.08.2007 LK-5243179 18.05.1992

U.P. Ghaziabad 09950102877 20.08.2007 LK-5243179 18.05.1992

Andra Pradesh Hyderabad 28930198496 01.04.2005 28930198496 01.04.2005

Andra Pradesh Vijayawada 28830149967 1.05.2005 28830149967 01.05.2005

TamilNadu Chennai 33240800161 01.01.2007 33240800161 01.01.2007

Karnataka Bangalore 29040098930 01.04.2003 29040098930 01.04.2003

Kerala Ernakulam 32070389872 01.04.2005 0703C008987 01.04.2005

WestBengal Howrah 19200075047 01.04.2005 19200075241 01.04.2005

WestBengal Calcutta 19200075047 01.04.2005 19200075241 01.04.2005

Orrisa Cuttack 21111202835 15.03.2005 CUCI(W)0-129 15.03.1966

Bihar Patna 10010263037 01.04.2005 10010263134 01.04.2003

Jharkhand Ranchi 20980300273 01.04.2006 RN (W) 2603 ( C ) 11.11.2002

Assam Guwahati 18410061951 03.03.2006 GWA/CST/2540 03.03.2006

ANNEXURE – BC.A. Place Name

Raipur Asha Enterprises

Jaipur PuriDistributors

Patna ShivaEnterprises

Ranchi BSDistributors

Banglore YeshasviPharmaceuticals

Schedule related to Purchases1. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finished

goods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shallstandtransferredtothepossession/ownershipoftheResultingCompany.

2. Allrights,benefits,privilegesandclaimsarisingoutoforinrelationtoallsuchgoodsoftheDe-mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstandtransferredtothepossession/ownershipoftheResultingCompany.

3. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

4. All rights, benefits and privileges in transit would include various claims for Cenvat Credit,rebates,refundsincludingexportpromotionalbenefits,exemptions,whichwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanyCentralExciseAct/Rules/CENVATCreditRules,CustomsAct,CustomsRulesandotherrelatedgoverningandapplicablelawsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

5. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompany.

6. Allgoods, including inputs,capitalgoods,work inprocessgoods,samplebatches,finishedgoods,spares,equipments,wasteandscrapandthelikelyinginthepossession/ownershipoftheDe-mergedCompanyoranyorallofitsDivisions,shallstandtransferredtothepossession/ownershipoftheResultingCompany.

7. Allrights,benefits,privilegesandclaimsarisingoutoforinrelationtoallsuchgoodsoftheDe-

85

mergedCompanyoranyorallofitsDivisionsstatedhereinaboveatpointnumber1shallstandtransferredtothepossession/ownershipoftheResultingCompany.

8. Alltherights,benefits,privilegesandclaimsinrespectofthegoodsabovementionedatpointnumber1and2whichareintransitoftheDe-mergedCompanyoranyorallofitsDivisionsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

9. Allrights,benefitsandprivilegesintransitwouldincludevariousclaimsforSalesTax/VatTax/CentralSalesTax,refundsincludingwouldbeotherwiseavailabletotheDe-MergedCompanyandshallincludeallsuchotherbenefitsandconcessionsconferredunderanySalesTax/VatTax/CentralSalesTaxAct/Rulesandotherrelatedgoverningandapplicablelawsshallstandtransferredtothepossession/ownershipoftheResultingCompany.

10. All licenses, registrations, authorizations, approvals, quotes including the attendant rightstheretopresentlyheldbyDe-MergedCompany,orlikelytobeheldbytheDeMergedCompanyshallstandtransferredtothepossession/ownershipoftheResultingCompany.

11. TheAlembicLimitedhadpurchasedRawmaterial,PackingmaterialandconsumablestoreonpaymentoftaxandtheAlembicLimitedisentitledtotaxcreditunderGVATA2003.Whatever,stockofRawmaterial,packingmaterialandconsumablestorestransfertoAlembicPharmaLtd.onthatAlembicPharmaLimitedmustbeentitledtotaxcreditunderGVATA2003.WhereasrestalltaxcreditistobeavailedbyAlembicLtd.irrespectiveofthestockpositiononavailableatAlembicLimitedasitisaccumulatedcarriedforwardtaxcredit.

12. TheAlembicLtd.hadpurchasedcapitalgoodsandclaimedtaxcreditoncapitalgoodsatrelevanttimeandalsocarriedforwardtaxcreditandthereforesamemustbeavailabletoAlembicLtd.andnopropsenatereductionismade.InotherwordsentiretaxcreditofaccumulatedcarriedtaxcreditexceptRawmaterialpackingmaterialandconsumablestores transfer toAlembicPharmaasmentionedabovewouldbecontinuedtoretainatAlembicLtd.intoto.

13. AllPurchaseordersissuedinthenameofAlembicLtdbuttheBillBookingistobedoneinthenameofAlembicPharmaLimited,theVATITCisavailabletotheAlembicPharmaLimitedevenifthenameappearingintheTaxInvoiceasAlembicLimited.

14. IncaseofissuanceofC/F/HformsinthecircumstancesofinterstatePurchase/Transfer/Export,allFormswouldbeissuedbyAlembicPharmaLimitedonhisbillbookingeventhoughtheBillisappearinginnameofAlembicLimited.

15. Incaseofstock in transferoneC&F toanotherC&ForAlembicPharmaLtd toAlembicLimitedisrequiredtobeconsiderasstocktransferofAlembicPharmaLtdtillnewregistrationbyconcernedC&FagentofAlembicLimitedasC&FagentofAlembicPharmaLtdisobtained.InthiscircumstancetheForm“F”willbeissuedbyAlembicPharmaLtd.ThisalsoapplieswhenthegoodsisintransitC&FtoC&ForAlembicPharmatoAlembicLtd.

16. ClosingstockavailablewithC&FofAlembicLimitedwillbetreatedasOpeningStockofAlembicPharmaLimitedwithoutanyTax/VATpaymentforthefollowingRegisteredPlants/WarehousesBranches/C&FAgents.

Listofpermissions/licensesfortheproductsoutsideIndia



MinistryofJustice RepresentativeOfficeRegistration

• No.9601.4• No.6996.3

TaxationDept TaxRegistration • 77No.0416913FederalMigrationDept. ForeignWorkPermit • No.77014018MoscowChamberofCommerce Registration • 103.429

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LISTOFPRODUCTSREGISTEREDOUTSIDEINDIAS. N. Product/NameofAuthority Registration No.ALBANIA(MinistryofHealth)1 Azithral250 N.A.2 Ciprowin500 N.A.3 Bipenicillininj.BP0.8Mega N.A.4 Ampicillininj.BP1g N.A.5 BenzylpenicillininjBP1Mega N.A.ALGERIA(MinistryofHealth)1 BenzylpenicillininjBP1Mega N.A.2 Benzathinepenicillininj.0.6Mega N.A.3 Benzathinepenicillininj.1.2Mega N.A.ARMENIA(MinistryofHealth)1 Glycodincoughsyrup100ml 0062/61482 Glycodincoughsyrup50ml 0062/6148BELARUS(MinistryofHealth)1 GlycodinCoughSyrup100ml 4701/2000/052 GlycodinCoughSyrup50ml 4701/2000/053 Ciprowin-250 6783/044 Ciprowin-500 6783/04BOLIVIA(MinistryofHealth)1 Omezol20 N.A.BOTSWANA(DAB–DrugsAdvisoryBoard)1 BZPinj.2.4mega BOT08011282 BPinj.5mega BOT08011273 BPinj.1mega BOT08011924 Ampicillininj.250mg BOT08011255 Ciprowin500 BOT08011266 Ciprowin250 BOT08011917 AlthrocinS250 Under reg. A98013268 Omezol-20 Under reg. A98013029 GLZPlus Regawaited10 Forminal500 Under reg. A980132511 Formina 850 Under reg. A980132512 Clarithro500 Regawaited13 Clarithro250 Regawaited14 Norfloxacintabs400 Under reg. A980134615 PPinj.3mega Under reg. A9801331CAMBODIA(MinistryofHealth1 Roxid-150 04-26772 Roxidkidtab 06-34673 RoxidLiquid 171-094 Azithral-250 04-27415 Azithral-500 04-27426 AzithralLiquid 160-097 Glycodincoughsyrup 156-09

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8 Ciprowin-500 112-09CHILE(MinistryofHealth)1 Benzylpenicillininj.BP1Mega 0026802 Benzylpenicillininj.BP2Mega 0026093 Benzathinepenicillininj.1.2Mega 0021574 Benzathinepenicillininj.2.4M 0021505 Benzathinepenicillininj.0.6M 002156COSTARICA(MinistryofHealth)1 Ampicillininj.BP500 5211-AGW-35282 Benzylpenicillininj.BP1Mega 5211-AGW-29063 Benzathinepenicillininj.1.2M 5211-AGW-3325ETHIOPIA(FMHACA–Food,MedicineandHealthCareAdministrationandControlAuthorityof Ethiopia)1 FPP 4 M ALE/IND/0022 Clarithro-500 URR3 Alcizoninj.1g N.A.GHANA(MinistryofHealth)1 Azithral-250 FDB/SD.07-52182 BP 5 mega FDB/GD.07-10013 BZP2.4mega FDB/GD.07-10024 PP 3 mega FDB/GD.06-90575 BZP1.2mega FDB/GD.06-90556 BP 1 mega FDB/GD.06-9056HONDURAS(MinistryofHealth)1 AlthrocinS250 N.A.2 BZP1.2M N.A.3 Azithral-500 N.A.4 Forminal-500 N.A.5 Forminal-850 N.A.6 ErythromycinEthylsuccinatesuspension N.A.7 FortifiedProcainePenicillin4Mega N.A.KAZAKHASTAN(MinistryofHealth)1 Glycodincoughsyrup100ml 0036742 Glycodincoughsyrup50ml 003674KENYA(PPB–PHARMACYANDPOISONBOARD)1 Glycodincoughsyrup 172172 EphedrexSyrup 22663 Zeetexpectorant 22134 AlthrocinS250 124545 Sparta200mgTablets 124776 FortifiedProcainePenicillininj.4Mega 22817 Benzylpenicillininj.BP5Mega 123978 Benzathinepenicillininj.2.4 123989 Triplepenicillin1.2mega 1239910 Brozeet 1284311 Alcephin-500(Cephalexincaps) N.A.

88

12 Clarithro-250 1266913 Clarithro-500 1441914 Sionara-200(Celecoxibtabs) 1404015 Roxid-300 1381316 Roxid-150 1380117 RoxidLiquid 1412318 Azithral-250 1619719 Azithral-500 1619820 AzithralLiquid 1619921 AzithralInjection 1894822 ForminalSR 1721823 Lormeg 1403824 Alcizoninj.1g 1953525 Cefatalinj.1g 1953626 Atecard25 862827 Atecard50 769228 Atecard100 1001329 AtecardD 887930 UlgelLiquid 769031 Ulgeltablets 7691MALAWI(PMPB–PHARMACY,MEDICINEANDPOISONBOARD)1 ZeetExpectorant PMPB/PL254/52 AzithralLiquid PMPB/PL254/63 Azithral-250 PMPB/PL254/74 EphedrexSyrup PMPB/PL254/85 Althrocin-S250 PMPB/PL254/16 BenzathinePenicillinInj2.4mega PMPB/PL254/107 Glycodincoughsyrup PMPB/PL254/11MADAGASCAR(MinistryofHealth)1 Ampicillininj.BP1g 22.1.1.0252 Ampicillininj.500BPmg 22.1.1.0243 BZPinj.2.4mega 22.1.1.0314 BPinj.1mega 22.1.1.0265 BPinj.5mega 22.1.1.0276 Alcizoninj.1g 22.1.1.0307 Ciprowin500 22.1.1.0298 AlthrocinS250 22.1.1.0289 Glycodincoughsyrup 18.1.1.1785MALAYSIA(DCA–DRUGCONTROLAUTHORITY)1 ZeetExpectorant(UNIZET) URR2 Nimegesic-100 MAL20033326A3 Roxid-150 MAL05061490A4 Roxid-300 MAL05061493A5 RoxidLiquid N.A.MALDIVES(MinistryofHealth)1 Althrocin-S250 23-D2/MISC/2001/126

89

2 Althrocin-S500 23-D2/MISC/2001/1263 AlthrocinE 23-D2/MISC/2001/1264 Azithral500 23-D2/MISC/2001/1265 AzithralLiquid 23-D2/MISC/2001/1266 Lovameg20 23-D2/MISC/2001/1267 Omezol20 23-D2/MISC/2001/1268 Roxid150 23-D2/MISC/2001/1269 Roxidkidtablets 23-D2/MISC/2001/12610 Roxidliquid 23-D2/MISC/2001/12611 Roxiddrops 23-D2/MISC/2001/12612 Calcy-250 23-D2/MISC/2001/12613 Calcy-500 23-D2/MISC/2001/12614 Amoxycillin250 23-D2/MISC/2001/12615 Amoxycillin500 23-D2/MISC/2001/12616 Clarithro250 23-D2/MISC/2001/126MAURITIUS((MinistryofHealthandQualityofLife)1 Aldinircaps300 N.A.2 AzithralLiquid N.A.3 Azithral250 N.A.4 Azithral500 N.A.5 Alsigra50 N.A.6 Alsigra100 N.A.7 Cetralsyrup N.A.8 Fortafentabs N.A.9 Hydralcaps N.A.10 HydralSachet N.A.11 Isovoncaps N.A.12 Lovameg20 N.A.13 Omezol20 N.A.14 Rekoolinj N.A.15 Rekooltabs N.A.16 Sionara 100 N.A.17 Sionara 200 N.A.18 Yutoparinjection N.A.19 Yutopartabs N.A.20 Zerocook‘n’bake N.A.21 ZeroSachet1g N.A.22 Zerotabs N.A.MOLDOVA(MinistryofHealth)1 Ciprowin250 117112 Ciprowin500 119173 Nimegesic-100 132054 Omezol-20 119185 Brozeet 124566 Alcizoninj 132037 Althrocin-S 13204

90

8 Azithral-250 74089 Azithral-500 740910 Roxid-150 1320611 Roxid-300 1320712 Cepimeinj.1g 1238413 Ampicillininj.BP500 550514 Ampicillininj.BP1g 550415 Glycodincoughsyrup 564516 NimegesicSusp 6143MOZAMBIQUE(MinistryofHealth)1 ZeetExpectorant 12832 Brozeet 11313 Azithral-500 9804 Azithral-250 N.A.5 Clarithro-500 9276 Glycodincoughsyrup 13367 AzithralLiquid N.A.8 ZeetExpectorant 1283MYANMAR(MinistryofHealth)1 Azithral250 R1105A49032 Glycodin R1306A63253 Ciprowin250 R1407A36124 Ciprowin500 R1401A34225 Nimegesic100 N.A.6 Omezol20 R0901A34207 Roxid150 R1401A35088 Roxid300 R0901A35079 Roxidkidtab R0909A372610 Azithralkidtab R1105A490211 Azithralliquid R1105A490412 Brozeet R1105A490513 RoxidLiquid R1105A490614 Calcy250 R1204A549215 Calcy500(URR) 0704A549116 Nimegesic-IR N.A.17 Minipril-5(URR) N.A.18 Forminal-500 R1306A632419 Lovameg-20(URR) 0806A632620 Glz-40(Gliclazidetabs) N.A.21 NimegesicSuspension N.A.22 RoxidDrops(URR) 0708 A 594923 Lormeg R1208 A 5960NIGERIA(NAFDAC–NationalAgencyforFoodandDrugAdministrationandControl)1 Althrocin-S250 04-33272 Althrocin-S500 04-33283 Roxid-150 04-3463

91

4 Forminal-500 04-62825 RoxidLiquid 04-64666 Clarithro-500 04-76067 Azithral250 A4-17698 Azithral500 A4-17709 AzithralLiquid A4-1768PERU(MinistryofHealth)1 Benzylpenicillininj.1Mega EG-28552 Benzathinepenicillininj.1.2Mega EG-28503 Benzathinepenicillininj.2.4Mega EG-28134 PorcainePenicillininj.1Mega EG-28115 Forminal-850 E141356 Azithral-500 N.A.PHILIPPINES(MinistryofHealth)1 Clarithro500 N.A.2 Zerotablets FR 651853 ZeroSachet1g FR 651864 Zerocook‘nbake FR 65767RUSSIA(MinistryofHealth)1 Glycodincoughsyrup 012064/012 Glycodincoughsyrup(50ml) 012064/013 Isovoncapsules(Isoflavoncaps) 77.99.23.7.Y.2225.9.054 Alcizoninj1g(Ceftriaxoneinj) 015852/015 Alcizoninj250mg(Ceftriazoneinj) 015852/01SRILANKA(MinistryofHealth,CDDA–Cosmetics,DevicesandDrugsRegulatoryAuthority)1 Azithral250 DR-0158562 DecamycinSuspension DR-0140863 Decamycin-500 DR-0133484 Decamycin-250 -5 Roxid150 DR-0136856 FortifiedProcainePenicillininj.0.4mega DR-0120287 Azithral500 DR-0157518 Azithralliquid DR-0153349 Brozeet 01501610 Roxid300 01533111 Dexalsyrup(Glycodincoughsyrup) N.A.12 Calcima250(Calcy250) N.A.13 Calcima500(Calcy500) N.A.14 Ciprodex250(Ciprowin250) N.A.15 Ciprodex500(Ciprowin500) N.A.16 Zerotablets N.A.17 ZeroSachet1g N.A.18 ZeroCooknbake N.A.19 Isovoncapsules N.A.SUDAN(MinistryofHealth)&(CMS–CentralMedicalSuppliesPublicCorporation)1 Benzathinepenicillininj.1.2Mega N.A.

92

2 Benzathinepenicillininj.2.4Mega N.A.3 Benzylpenicillininj.BP1Mega N.A.4 ProcainePenicillininj.1Mega N.A.SURINAME(MinistryofHealth)1 Nimegesicsuspension 40292 Nimegesic100 40303 Ampicillininj.BP250mg 40314 Minipril5 40325 Minipril10 40336 Ciprowin250 40727 BenzylpenicillininjectionBP1Mega 40738 Ampicillininj.BP1g 4074TANZANIA(TFDA–TanzaniaFoodandDrugAdministration)1 Azithral250 TAN 06,242J01F ALE2 Azithral500 TAN 07, 249 J01F ALE3 AlthrocinS250 TAN 00,609 J01F ALE4 AlthrocinS250(Jarof1000’s) N.A.5 Ephedrexsyrup N.A.6 ZeetExpectorant(FromBaddi) TAN 06,240 RO2AALE7 Brozeet(OTC)(From:Gujarat) TAN 05, 004 RO5A ALE8 Lormeg 10 TAN 00,4050 D04A ALE9 Clarithro250 TAN 00,4052 J01F ALE10 BenzathinePenicillininj.2.4Mega TAN 00,262 JO1C ALE11 GlycodinCoughSyrup100ml(POM)(From:Baddi) TAN 06, 241 R05C ALE12 AzithralLiquid(From:Baddi) TAN 07, 251 J01F ALE13 BrozeetPlus TAN 07, 250 RO5A ALE14 Zerocooknbake -15 Zerotablets -TAJIKISTAN(MinistryofHealth)1 Ampicillininj.BP1g 27392 Azithral-250 27443 Azithral-500 27454 Glycodincoughsyrup 27405 GlycodinTabs 27416 Nimegesic-100 27437 Nimegesicsuspension 2742TURKMENISTAN(MinistryofHealth)1 BenzylpenicillinInjBP1Mega 0020072 Omezol20 0020083 AmpicillinInj500mg 002009UGANDA(NDA–NationalDrugAuthority)1 Ciprowin500 1734/06/972 FortifiedProcainePenicillininj.4mega 2028/06/973 Benzylpenicillin1mega 1735/06/974 BenzathinePenicillin2.4 1729/06/975 Roxid150 1731/06/97

93

6 ZeetExpectorant 3537/06/007 Althrocin-S250 4100/06/028 GlycodinCoughSyrup 4342/25/039 Brozeet 4447/25/0410 AzithralLiquid 6188/06/0811 Azithral-250 4340/06/0312 Azithral-500 5962/06/0713 Lormegtablets 6086/03/08UAE(MinistryofHealth)1 Zerotabs N.A.2 Isovoncaps N.A.UKRAINE(MinistryofHealth)1 Glycodincoughsyrup P.11.00/025352 Ciprowin250 UA/1834/01/013 Ciprowin-250tabsinbulk(Generic) UA/1835/01/014 Nimegesic100 UA/1833/01/015 NimegesicSuspension UA/1833/02/016 Roxid150 UA/2924/01/017 Roxid150tabsinbulk(Generic) UA/2925/01/018 Roxid300 UA/2924/01/029 Roxid300tabsinbulk(Generic) UA/2925/01/0210 Roxidkidtab UA/2926/01/0111 Roxidkidtab50mginbulk(Generic) UA/2927/01/0112 CeftriaxoneinjectionUSP1gAlcizon1.0g UA/6158/01/0113 Ceftriaxoneinj.1gbulk UA/6159/01/0214 GlycodinTablets UA/7808/01/0115 Althrocin-S250 UA/4191/01/0116 Althrocin-S250tabsinbulk(Gejneric) UA/4192/01/0117 Althrocin-S500 UA/4191/01/0218 Althrocin-S500tabsinbulk(Generic) UA/4192/01/0219 Azithral-250 UA/5452/01/0120 Azithral-250mgbulk UA/5453/01/0121 Azithral-500 UA/5452/01/0222 Azithral-500mgbulk UA/5453/01/0223 AzithralInjection UA/7748/01/0124 Cefepime 1 g UA/4628/01/0125 Cefepime1ginbulk UA/4629/01/0126 Ciprowin-500filmcoatedtablets UA/1834/01/0227 Ciprowin-500filmcoatedtabletsbulk UA/1835/01/02

UZBEKISTAN(MinistryofHealth)1 GlycodinCoughSyrup100ML. Ƃ-250-95No 308042 GlycodinCoughSyrup50ML. Ƃ-250-95No 30804VIETNAM(MinistryofHealth)1 AlembicRoxid150 VN-8880-042 AlembicAzithral250 VN-9899-053 Nimegesic100 VN-0728-06

94

4 Lovameg20 VN-1098-065 AlembicRoxidkidtab VN-0020-066 AlembicAzithralInj500mg VN-1095-067 AlembicAzithralLiquid VN-0725-068 AlembicAzithral500 VN-0724-069 AlembicRoxidliquid VN-1096-0610 Sparta 200 VN-1099-0611 Azithralkidtab VN-3355-0712 Lormeg VN-3357-0713 Sionara-100 VN-3359-0714 Sionara-200 VN-3360-0715 Ecwin-7.5 VN-5163-0816 Ecwin-15 VN-5162-0817 Cefetalinj1g VN-7955-0918 AldinirCaps300mg(URR) VN-7433-0919 Aldinirsuspension VN-8692-0420 AlembicAlflucoz VN-9898-0521 AlembicPefbid VN-9900-0522 AlthrocinS500 VN-3354-0723 Altamet-500 VN-5826-0824 Rehydral VN-3358-0725 LipiloSupra(Fenofibrate16mg) VN-3356-0726 Altamet250 VN-1097-0627 AlembicRoxidLiquid VN-1096-0628 Suprapime500mg VN-0732-0629 Suprapime1000mg VN-0731-0630 Supercef500mg VN-0730-0631 Supercef1000mg VN-0729-0632 AlembicPactum VN-0727-0633 AlembicFortafen VN-0726-0634 AlembicOmezol VN-0019-0635 Forminal-850 VN-4958-1036 Dazzidime(CefetametPivoxiltablets500mg) VN-4957-1037 Nitagold(CefetametPivoxiltablets500mg) Reg.awaitedYEMEN(MinistryofPublicHealthandPopulation)1 FPP 0.4 mega 1922 BenzathinePenicillin1.2 1923 Benzylpenicillininj.1M 1934 Omezol-20 1935 Ampicillininj.BP500mg 1936 ZeetExpectorant 194ZAMBIA(MinistryofHealth)1 FortifiedProcainePenicillin4mega 215/0082 Benzylpenicillininj.5mega 215/0093 Sparta-200 215/0104 AzithralLiquid200 215/011

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5 BrozeetSyrup 215/0016 Benzathinepenicillininj.2.4mega 215/0027 ZeetExpectorant 215/0038 Clarithro-250 215/0049 Glycodincoughsyrup 215/00510 Lormeg-10 215/006ZIMBABWE(MCAZ–MedicinesControlAuthorityofZimbabwe)1 Benzylpenicillininj.5mega(ThroughCapsZimbabwe) NeutralLabel2 Benzathinepenicillininj.2.4mega(ThroughCpas

Zimbabwe)NeutralLabel

3 Procainepenicillininj.3mega 2002/7.1.2/40494 FortifiedProcainepenicillininj4mega 2003/7.11/4175

ListofInsurancePoliciesNameofAuthority NatureofRegistration/

LicenseRegistration/LicenseNumber

SumEnsured(Rs.inlacs)

IffcoTokioGeneralInsuranceCoLtd

StandardFireandSpecialperilsPolicy

11440095 27579



11440098 4185



11440101 272.6



11440102 5058.25



11440111 10800



11440137 7974



11440140 4600



11440147 4000



11440151 850



11441002 2465



11440157 600



11440158 3025



11440160 3290



11440161 1712



11440162 125



11440166 1500

96



11440167 2050



44100158 40417


PublicLiabilityCo.Act 41013886 1500


MoneyInsurance 45026004 62.75



11440163 93.25


AllRiskPolicy 55011271 94.78



32036604 150.86



56000001 62



11441252 5350



11446042 640


ProfessionalIndemnityLiability

41010936 50


ProductRecallInsurance 61010262 100


CommercialGeneralLiabilityPolicy

41013824 4600

LIC OF INDIA KeymanInsurancePolicy 873234309 200LIC OF INDIA KeymanInsurancePolicy 873235960 200IffcoTokioGeneralInsuranceCoLtd

ClinicalTrialLiabilityPolicy

41011886 100


GroupMediclaimInsurance

52132021 500


GrouppersonalAccidentPolicy

51118311 3000


GroupMediclaimInsurance

52160427 5442

CholaMandalamMSGeneralInsuranceCoLtd

GrouppersonalAccidentPolicy

APG00003/3403/000/02

26659.5


AnnualTurnoverPolicy 21556389 87044.3


BoilerandPressureplantPolicy

32036598 137.5

ExportcreditGuaranteeCorporation of India

SingleBuyerExposurePolicy

SBE–0370000315 449.5


MotorPolicy As per registration numbersmentionedinpointNo.Dbelow

166.42

97

BenefitsinrespectofpriceofErythromycinEstolate(Ex-Ferm)givenvideorderdated13/10/2005oftheHon’bleGujaratHighCourt.

Continuation of Power supply by Alembic Limited from its con-generation power plant toResearchandDevelopmentcenter.

Allcommonlawrightsand/orstatutoryrightsofPharmaceuticalDevisioninvarioustrademarks/patents/copyrightsand/oranyotherIntellectualPropertiesregistrationsand/orapplications.

D. VEHICLES: ListOfVehicles

Description Registration NumberSKODA OCTAVIA 2.0 GJ6AB 9526MARUTIZENVXI MH01GA 9299TRACTOR TRAILER GJ6U 9233TOYOTACOROLLA1.8GA/T GJ6BL 8993FIAT PALIO GJ6AH 8563HONDACITY1.5EXI GJ6AB 8096HONDACIVIC1.8SM/T GJ6BL 8039GRANDCHEROKEEJEEP GJ6JJ 8028TRACTOR GJ6P 8026HONDACIVIC1.8SM/T GJ6BL 7975BOLEROINVADER4X4 GJ6CM 7826TRACTOR TRAILER GTK 7713TRACTOR TRAILER GTB 7669TRACTOR TRAILER GTK 7622TRACTOR TRAILER GTK 7621YAMAHA 350 GBR 7620TRACTOR GJB 7242CHEVROLET TAVERA SS D1 GJ6BA 7208FIATPALIO1.2ELX GJ6AH 6836ROYAL ENFIELD BULLET 350 STD. GJ6DS 6799BMW 320D CE GJ6DQ 6701DUCATI MONSTER S4R GJ6BG 6644TRACTOR GJB 6496YAMAHARX-100 GJ6H 6455JAGUARXJ6AUTOTRANS GAA 5957TOYOTA INNOVA GJ6CM 5692MITSUBISHI LANCER GJ6AH 5214PIAGGIOAPE3WHEELERTEMPO GJ6XX 5012ROYAL ENFIELD BULLET 500 CC GJ6AL 4991HONDACITY1.5EXI GJ6AH 4640SKODA RS GJ6BA 4622TOYOTA QUALIS GJ6AB 5938TOYOTA QUALIS GJ6AH 4413FIAT PALIO GJ6AH 4351MARUTI CAR GJ6JJ 4153OPEL ASTRA GJ6AA 3988TOYOTA INNOVA V PETROL GJ6BL 3680

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HONDA ACCORD V6 GJ6BL 3486WATER TANKER GJ6X 3120HYUNDAI ACCENT GJ6AH 2714MARUTICARDX GJ6JJ 1694MITSUBISHI PAJERO GJ6K 1584M-BENZS-320 GJ6AB 1244M-ZEN GJ6A 976AMBULANCE GJ6U 880AMBULANCE GJ17V 179AMBULANCE GJ6Z 145TRACTOR GJ6P 9870TATAINDIGOMANZAQUADRAJETAQUA GJ6DQ 47BABAJKAWASAKIRTZ GJ6C 617

For Alembic Limited Sd/- R. K. Baheti Director-Finance& CompanySecretary March1,2011

MEMORANDUM AND ARTICLES OF ASSOCIATION …...1 THE COMPANIES ACT, 2013 MEMORANDUM OF ASSOCIATION OF...

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