X0202 4 2007-12-05 0 0000887708 CARACO PHARMACEUTICAL LABORATORIES LTD CPD 0001197089 SUN PHARMACEUTICAL INDUSTRIES LTD 17/B MAHAL INDUSTRIAL ESTATE MAHAKALI CAVES ROAD ADHERI (EAST) MUMBAI 400 093 K7 INDIA 0 0 1 0 0001197088 SUN PHARMA GLOBAL INC INTERNATIONAL TRUST BUILDING P.O. BOX 659, ROAD TOWN TORTOLA D8 VIRGIN ISLANDS, BRITISH 0 0 1 0 0001249644 SHANGHVI DILIP S 17/B MAHAL INDUSTRIAL ESTATE MAHAKALI CAVES ROAD ANDHERI (EAST), MUMBAI 400 093 K7 INDIA 1 1 0 0 (Non Executive) Chairman Common Stock 2007-12-07 4 C 0 1088000 A 12838014 I See Footnote Common Stock 8382666 D Series B. Preferred Stock 0 2007-12-07 4 C 0 544000 0 D 2007-11-24 Common Stock 544000 9248000 I See Footnote Series B. Preferred Stock 0 2007-12-07 4 C 0 544000 0 D 2007-12-06 Common Stock 544000 8704000 I See Footnote Series B. Preferred Stock 0 2007-12-05 4 J 0 544000 A 2010-12-05 Common Stock 544000 9248000 I See Footnote The Series B preferred shares converted into Common Stock on a one-to-one basis and had no expiration date. 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. Sun and Mr. Shanghvi disclaim beneficial ownership of the reported shares except to the extent of their respective pecuniary interests therein. 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. 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 Global earns 544,000 shares of Series B Preferred Stock for each technology transferred 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 December 5, 2007 was $10.81 per share. The shares of Series B remain outstanding until such time as they are converted to common stock. /s/ Dilip S. Shanghvi, Chairman and Managing Director of Sun Pharmaceutical Industries Limited 2007-12-07 /s/ Dilip S. Shanghvi, Director of Sun Pharma Global, Inc. 2007-12-07 /s/ Dilip S. Shanghvi 2007-12-07