-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
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 Bm/JFJwK7AlSIFtHATV01w==

<SEC-DOCUMENT>0001169232-07-003525.txt : 20070828
<SEC-HEADER>0001169232-07-003525.hdr.sgml : 20070828
<ACCEPTANCE-DATETIME>20070828144028
ACCESSION NUMBER:		0001169232-07-003525
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070828
FILED AS OF DATE:		20070828
DATE AS OF CHANGE:		20070828

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CARACO PHARMACEUTICAL LABORATORIES LTD
		CENTRAL INDEX KEY:			0000887708
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				382505723
		STATE OF INCORPORATION:			MI
		FISCAL YEAR END:			0331

	BUSINESS ADDRESS:	
		STREET 1:		1150 ELIJAH MCCOY DR
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48202
		BUSINESS PHONE:		3138718400

	MAIL ADDRESS:	
		STREET 1:		1150 ELIJAH MCCOY DRIVE
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48202

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SHANGHVI DILIP S
		CENTRAL INDEX KEY:			0001249644

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31773
		FILM NUMBER:		071083485

	BUSINESS ADDRESS:	
		STREET 1:		1150 ELIJAH MCCOY
		CITY:			DETROIT
		STATE:			MI
		ZIP:			48202

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SUN PHARMA GLOBAL INC
		CENTRAL INDEX KEY:			0001197088

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31773
		FILM NUMBER:		071083486

	BUSINESS ADDRESS:	
		STREET 1:		SPARC AKOTA ROAD
		CITY:			VADODARA
		STATE:			A1
		ZIP:			00000

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SUN PHARMACEUTICAL INDUSTRIES LTD
		CENTRAL INDEX KEY:			0001197089
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31773
		FILM NUMBER:		071083487

	BUSINESS ADDRESS:	
		STREET 1:		SPARC AKOTA ROAD
		CITY:			VADODARA
		STATE:			K7
		ZIP:			390020
		BUSINESS PHONE:		01191228212128
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>d07-72634_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-08-28</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000887708</issuerCik>
        <issuerName>CARACO PHARMACEUTICAL LABORATORIES LTD</issuerName>
        <issuerTradingSymbol>CPD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001197089</rptOwnerCik>
            <rptOwnerName>SUN PHARMACEUTICAL INDUSTRIES LTD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>17/B MAHAL INDUSTRIAL ESTATE</rptOwnerStreet1>
            <rptOwnerStreet2>MAHAKALI CAVES ROAD</rptOwnerStreet2>
            <rptOwnerCity>ANDHERI EAST MUMBAI 400093</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>K7</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001197088</rptOwnerCik>
            <rptOwnerName>SUN PHARMA GLOBAL INC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>INTERNATIONAL TRUST BUILDING,</rptOwnerStreet1>
            <rptOwnerStreet2>P.O. BOX 659, ROAD TOWN</rptOwnerStreet2>
            <rptOwnerCity>TORTOLA,</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>D8</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001249644</rptOwnerCik>
            <rptOwnerName>SHANGHVI DILIP S</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>17/B MAHAL INDUSTRIAL ESTATE</rptOwnerStreet1>
            <rptOwnerStreet2>MAHAKALI CAVES ROAD</rptOwnerStreet2>
            <rptOwnerCity>ANDHERI EAST MUMBAI 400093</rptOwnerCity>
            <rptOwnerState></rptOwnerState>
            <rptOwnerZipCode>K7</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Non-Executive Chairman</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-08-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1088000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11750014</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>8382666</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series B. Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-08-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>544000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-08-22</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>544000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10336000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Series B. Preferred Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>0</value>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-08-28</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>C</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>544000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2007-08-27</value>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>544000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>9792000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Series B preferred shares converted into Common Stock on a one-to-one basis and had no expiration date.</footnote>
        <footnote id="F2">These shares are owned directly by Sun Global, Inc., which is a wholly-owned subsidiary of Sun Pharmaceutical Industries
 Limited (&quot;Sun&quot;).  Dilip S. Shanghvi is the controlling shareholder of Sun.  Sun and Mr. Shanghvi disclaim beneficial
 ownership of the reported shares except to the extent of their respective pecuniary interests therein.</footnote>
        <footnote id="F3">These shares are owned directly by Sun.  Dilip S. Shanghvi is the controlling shareholder of Sun.  Mr. Shanghvi disclaims
 beneficial ownership of the reported shares except to the extent of his pecuniary interest therein.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Dilip S. Shanghvi, Charman and Managing Director of Sun Pharmaceutical Industries Limited</signatureName>
        <signatureDate>2007-08-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Sudhir V. Valia, Director of Sun Pharma Global, Inc.</signatureName>
        <signatureDate>2007-08-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Dilip S. Shanghvi</signatureName>
        <signatureDate>2007-08-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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