X0202 4 2006-07-28 0 0000887708 CARACO PHARMACEUTICAL LABORATORIES LTD CPD 0001197089 SUN PHARMACEUTICAL INDUSTRIES LTD SPARC, TANDALJA VADODARA, GUJARAT K7 390 020 INDIA 0 0 1 0 0001197088 SUN PHARMA GLOBAL INC AKARA BUILDING 24 DE CASTRO STREET, WILKHAMS CLAY 1 ROA TOWN TARTOLA D8 VIRGIN ISLANDS, BRITISH 0 0 1 0 0001249644 SHANGHVI DILIP S C/O SUN PHARMACEUTICAL INDUSTRIES LD. MAHAL INDUSTRIES ESTATE, MAHAKLI CAVES ANDHARI (EAST), MUMBIA K7 400 093 INDIA 1 1 1 0 (Chairman of the Board) Series B. Preferred Stock 0 2006-07-28 4 J 0 544000 A 2009-07-28 Common Stock 544000 12512000 I See Footnote The Series B preferred shares are convertible into common stock after three years (or immediately upon a change in control) on a one-to-one basis. Sun Pharma Global, Inc. ("Sun Global") earns 544,000 shares of Series B Preferred Stock for each technology transfer to Caraco of a generic drug by Sun Global when such drug passes its bioequivalency studies. In the event of the dissolution of Caraco, such shares have a preference equal to the value attributed to them on the dates on which they were earned. The value attributed as of July 28, 2006 was $6.95 per share. In a previous Form 4, with respect to preferred shares earned as of July 10, 2006, the value incorrectly attributed to them was $8.82 per share; the correct value is $6.62 per share. The shares of Series B Preferred Stock remain outstanding until such time as they are converted into Common Stock. These shares are owned directly by Sun Global, Inc., which is a wholly-owned subsidiary of Sun Pharmaceutical Industries Limited ("Sun"). Dilip S. Shanghvi is the controlling shareholder of Sun. /s/ Dilip S. Shanghvi, Chairman and Managing Director of Sun 2006-08-01 /s/ Sudhir V. Valia, Director of Sun Global 2006-08-01 /s/ Dilip S. Shanghvi 2006-08-01