Sun Pharma Advanced Research Company Ltd Directors Report.

Your Directors take pleasure in presenting the Fifteenth Annual Report and Audited Financial Statements for the financial year ended 31st March, 2020.

Financial Results

( in Lakhs)

Particulars Year ended 31st March, 2020 Year ended 31st March, 2019
Total Income 8,657.72 19,637.68
Profit/(Loss) before Finance Cost, Depreciation & Tax (30,024.80) (13,778.45)
Finance Cost 267.49 9.39
Depreciation 948.05 755.24
Profit/ (Loss) before Exceptional Item and Tax (31,240.34) (14,543.08)
Tax Expense - -
Profit/ (Loss) after Exceptional Item and Tax (31,240.34) (14,543.08)
Other Comprehensive Income (247.06) 71.32
Total Comprehensive Income (31,487.40) (14,471.76)
Impact on account of adoption of Ind AS 115 - 1,877.10
Balance brought forward from Previous Year (70,439.75) (54,090.89)
Balance carried to Balance Sheet (101,927.15) (70,439.75)

Our Company made significant strides towards achieving its research goals during the financial year ended 31st March, 2020. The Company had made progress on clinical trials of its late stage assets and some of its early clinical assets advanced to later phases of clinical evaluation as the Company continues to collaborate with several globally reputed organizations to fortify its pipeline.

Dividend

In view of loss incurred during the year, your Directors do not recommend any dividend for the year under review.

Dividend Distribution Policy

In compliance with the requirements of regulation 43A of the Securities and Exchange Board of India (Listing Obligation & Disclosure Requirements) Regulations, 2015 (hereinafter referred to as ‘SEBI (LODR) Regulations), the Board of Directors of the Company has, formulated a Dividend Distribution Policy, which is available on the website of the company www.sparc. life and may be accessed through the web link https://www. sparc.life/policies-and-codes. The Dividend Distribution Policy is also enclosed as Annexure A to this Report.

Extract of Annual Return

The extract of Annual Return as provided under sub-section (3) of section 92 of the Companies Act, 2013 in prescribed form MGT-9 forms a part of this Report and is enclosed as

Annexure 1.

Pursuant to clause (a) of sub-section (3) of section 134 of the Companies Act, 2013 same is also available on the website of the Company www.sparc.life and may be accessed through the web link https://www.sparc.life/annual-reports as a part of the digital copy of this Annual Report.

Subsidiary/ Joint Venture/ Associate Company

The Company does not have any subsidiary, joint venture or associate company. The Company is a subsidiary of Shanghvi Finance Pvt. Ltd.

Share Capital & Preferential Issue

During the year, there was no change in paid-up capital of the Company.

Shares lying in Unclaimed Suspense Account

In compliance with the requirements of regulation 39 (4) of the SEBI (LODR) Regulations, the Company had transferred 1,620 shares belonging to 14 shareholders to "SPARC

Unclaimed Suspense Account", after sending three reminders to the concerned shareholders and following the procedures laid down under Schedule VI of the aforesaid Regulations.

As on 31st March 2020, 1,584 shares belonging to 13 shareholders were lying unclaimed in the aforesaid account.

In compliance with the requirements of the SEBI (LODR) Regulations, all corporate benefitsdeclared by the Company in future, in respect of the aforesaid shares shall be transferred to the aforesaid account until the rightful shareholders claim for the aforesaid shares. The voting rights on the aforesaid shares shall also remain frozen till the rightful owners claim the shares.

Directors & Key Managerial Personnel

Mr. Mark Simon (DIN: 07807378), Independent Director of the Company resigned from his office with effect from 28th February 2020 due to his personal commitments. The Board acknowledges and puts on record its appreciation for the valuable contributions made by him during his tenure as Director of the Company. The Board of Directors of the Company, on the recommendation of the Nomination & Remuneration Committee, in its meeting held on 1st June, 2020 appointed Dr. Robert J Spiegel (DIN: 00025758) as Additional Director of the Company under section 161 of the Companies Act, 2013.

Ms. Bhavna Doshi (DIN: 00400508) and Dr. Ferzaan Engineer (DIN: 00025758), Independent Directors of the Company hold office upto the ensuing Annual General Meeting of the Company.

In view of the commendable performance of Ms. Bhavna Doshi and Dr. Ferzaan Engineer during their association with the Company and impressive qualifications & experience of Dr. Robert Spiegel, the Board, on the recommendation of the Nominaton & Remuneration Committee has recommended the appointment of Dr. Robert J Spiegel and the reappointment of Ms. Bhavna Doshi and Dr. Ferzaan Engineer as Independent Directors of the Company for a Term of 5 years.

Dr. T. Rajamannar (DIN:01415412), retires by rotation at the ensuing Annual General Meeting, and being eligible, offers himself for re-appointment. In view of his commendable performance during his past association, the Board of Directors recommend his re-appointment.

There were no changes in the Key Managerial Personnel of the Company during the year.

Appropriate resolution for the appointment/ re-appointment of Directors as detailed above is being placed for your approval at the ensuing Annual General Meeting.

Declaration by Independent Directors

The Company has received declarations from all the Independent Directors of the Company confirmingthat they meet with the criteria of independence as prescribed under sub-section (6) of Section 149 of the Companies Act, 2013.

Policy on Directors Appointment and Remuneration

For the purpose of selection of any Director, the Nomination & Remuneration Committee identifies persons of integrity who possess relevant expertise, experience and leadership qualities required for the position and also takes into consideration recommendation, if any, received from any member of the Board. The Committee also ensures that the incumbent fulfils such other criteria and qualifications as laid down under the Companies Act, 2013 or other applicable laws.

The Board, on the recommendation of the Nomination & Remuneration Committee, has framed a policy for selection, appointment and remuneration of Directors and Senior Management.

The summary of Remuneration Policy is disclosed in the Corporate Governance Report, which forms a part of this

Report.

Number of Meetings of the Board

The Board of Directors of the Company met five times during the year on 6th May, 2019, 7th May, 2019, 29th July, 2019, 4th November, 2019 and 31st January, 2020. The particulars of attendance of the Directors at the said meetings are detailed in the Corporate Governance Report which forms a part of this Report. The intervening gaps between the meetings were within the period prescribed under the Companies Act, 2013 and SEBI (LODR) Regulations.

Evaluation of Performance of the Board, Its Committees and Individual Directors

In view of Securities and Exchange Board of Indias (‘SEBI) notification no. SEBI/HO/CFD/CMD/CIR/P/2017/004 dated 5th January, 2016 on ‘Guidance Note on Board Evaluation, the Board of Directors, on the recommendation of the Nomination & Remuneration Committee, have adopted a set of criteria, aligned with the recommendations of SEBI, for evaluation of the Board of Directors of the Company, including the individual Directors and the Committees of the Board.

The Board of Directors have also carried out an annual evaluation of its own performance, its various committees and individual directors pursuant to the provisions of the Act and the Corporate Governance requirements as prescribed under regulation 17(10) and other applicable provisions of the SEBI (LODR) Regulations.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of various criteria such as Structure of the Board, Meetings of the Board, Functions of the Board, Board and Management, Professional Development, etc.

The performance of each committee was evaluated by the board after seeking inputs from the committee members on the basis of criteria such as Mandate and composition, Effectiveness of the Committee, Structure of the Committee and meetings, Independence of the Committee from the Board, Contribution to decisions of the Board etc.

The Board and the Nomination & Remuneration Committee reviewed the performance of the individual Non-Independent Directors on the basis of criteria such as qualifications, experience, knowledge & competency, fulfilmentof functions, ability to function as a team, initiative, availability and attendance, commitment (as a Director), contribution & integrity.

The performance of each individual Independent Director was reviewed, based on the additional criteria of Independence and Independent Views & Judgment. Similarly, the performance of the Chairman was evaluated based on additional criteria such as effectiveness of leadership and ability to steer the meetings, impartiality, commitment (as Chairperson) and ability to keep shareholders interests in mind.

Pursuant to regulation 25(4) of the SEBI(LODR) Regulations, in a separate meeting of Independent Directors, performance of Non-Independent directors, performance of the various Committees of the Board and the Board as a whole and performance of the Chairman was evaluated, taking into account the views of the executive directors and non- executive directors. The same was discussed in the board meeting that followed the meeting of Independent Directors, at which the performance of the Board, its committees and individual Directors were also discussed.

Human Resources

As on 31st March, 2020, our Company had a dedicated team of 429 people, of which around 80% are highly qualified experienced scientists. During the previous year, the Company has considerably strengthened its team by attracting top quality scientific talent, with extensive experience in drug research internationally.

In addition to increasing the Companys participation at international Conferences for continuous knowledge up- gradation, the Company have also put in place effective training and career progression plans for its employees.

Your Directors recognize the teams valuable contribution and place on record their appreciation for Team SPARC.

Information as per Section 197 (12) of the Companies Act, 2013, read with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules 2014 is annexed as Annexure 2 to this Report. Further, pursuant to section 136 (1) of the Companies Act, 2013, the Annual Report and the accounts are being sent to the members excluding the information under rule 5(2) & 5(3) aforesaid. In terms of section 136 of the Act, the said Annexure is available for inspection at the Registered Office of the Company. Any shareholder interested in obtaining a copy of the same may write to the Company Secretary.

Disclosure Under the Sexual Harassment of women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

Your Company strongly believes in providing a safe and harassment-free workplace for each and every individual working for the Company through various interventions and practices. It is the continuous endeavour of the Management of the Company to create and provide an environment to all its employees that is free from discrimination and harassment, including sexual harassment.

Your Company has complied with provisions relating to the constitution of Internal Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and has submitted the Annual Returns to the local authorities, as required under the above mentioned Act.

During the year ended 31st March, 2020, no complaint pertaining to sexual harassment was received by the Company.

Auditors

Statutory Auditors

The Companys Auditors M/s. S R B C & Co. LLP, Chartered Accountants, (ICAI Firm Regn. No. 324982E/E300003), were appointed as the Statutory Auditors of the Company for a term of five years, upto the conclusion of the 17th Annual General Meeting of the Company. and The Auditors Report for the financial year ended March 31, 2020, has been issued with an unmodified opinion, by the Statutory Auditors.

Secretarial Auditors

Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Board had appointed KJB & Co. LLP, Company Secretaries, Mumbai to undertake the Secretarial Audit of the Company for the financial year 2019-20.

The Secretarial Audit Report for the year does not contain any qualification, reservation or adverse remark. The Secretarial Audit Report is annexed herewith as Annexure 3.

The Boards of Directors, have in their meeting held on 2nd June, 2020 re-appointed KJB & Co. LLP, Practicing Company Secretaries as Secretarial Auditors of the Company for the Financial year 2020-21.

Secretarial Standards

organizational The Company has complied with the applicable Secretarial

Standards as amended from time to time.

Loans, Guarantees & Investments

statements. The Company The particulars of loans, guarantees and investments have been disclosed under Notes to the financial statements.

Related Party Transactions

All contracts/arrangements entered by the Company during the year with the related parties were in the ‘Ordinary Course of Business and on ‘Arms Length Basis.

There were no materially significant Related Party Transactions between the Company and the Directors, the management or the relatives. As required under Section 134(3)(h) of the Act, details of transactions entered with related parties under the Act exceeding ten percent of the annual consolidated turnover as per the last audited financialstatements are given in Form AOC-2 (Annexure 4).

The policy on Related Party Transactions as approved by the Board is available on the website of the company www.sparc. life and may be accessed through the web link https://www. sparc.life/policies-and-codes.

Your Directors also draw your attention to "Annexure A" to the Notes on the Financial Statements, which sets out Related Party Disclosures.

Audit Committee Composition

The details of composition of Audit Committee are included in the Corporate Governance Report, which forms a part of this Report.

Risk Management

The Board of Directors has developed & implemented an adequate Risk Management Policy, which lays down the procedure to identify, monitor and mitigate the key elements of risks that threaten the existence of the Company. Further, in compliance with the requirements of regulation 21 of the SEBI (LODR) Regulations as amended from time to time, the Board of Directors of the Company, at its meeting held on 4th February, 2019 constituted a Risk Management Committee to oversee risk mitigation measures in the Company. The details of composition of Risk Management Committee are included in the Corporate Governance Report which forms a part of this Report.

The Risk Management Committee and the Audit Committee reviews, at regular intervals, the status of key risks and steps taken by the Company, to mitigate such risks.

Internal Financial Controls

TheCompany has in place a well-defined and adequate internal controls for efficient operations which is cognizant of applicable laws and regulations, particularly those related to protection of intellectual properties, resources, assets, and the financialtransactions in accurate reporting of the financial upgrades these systems. The internal control systems are supplemented by extensive internal audits, conducted by an independent firm of chartered accountants.

Corporate Social Responsibility

In compliance with the requirements of section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility) Rules, 2014, the Board of Directors has constituted a Corporate Social Responsibility Committee. The details of membership of the Committee & the meetings held are given in the Corporate Governance section of the Report. The CSR Policy of the Company as approved by the Board on the recommendation of the Corporate Social Responsibility Committee is available on the website of the company www. sparc.life and may be accessed through the web link https:// www.sparc.life/policies-and-codes.

Since the Company incurred losses during the three immediately preceding financial not required to spend any money on CSR activities during the previous financial requirements of Companies (Corporate Social Responsibility) Rules, 2014, a Report on ‘CSR Activates as per prescribed format, is enclosed with as Annexure 5.

Public Deposits

The Company has not accepted any Public Deposit during the year, under the provisions of the Companies Act, 2013 and the rules framed thereunder.

Management Discussion and Analysis

The Management Discussion and Analysis on the operations of the Company, as prescribed under Schedule V read with regulation 34(3) of the SEBI (LODR) Regulations, is provided in a separate section and forms part of this Report.

Corporate Governance Report

Report on Corporate Governance and Certificate of the Auditors of your Company regarding compliance of the conditions of Corporate Governance as stipulated in Schedule V read with regulation 34(3), of the SEBI (LODR) Regulations, are provided in a separate section and forms part of this

Report.

Business Responsibility Report

The Business Responsibility Report of the Company for the year ended 31st March, 2020 describing the initiatives taken by the Company from an environmental, social and governance perspective, in the format as specified by the Board, as required under Clause 34 (2) (f) of the SEBI (LODR) Regulations, forms part of this Report and is also available on the website of the Company www.sparc.life and may be accessed through the web link https://www.sparc.life/annual-reports as a part of this Report.

Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The information on conservation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014, is annexed as Annexure 6.

Significant and Material orders passed by the regulators or courts or tribunals

the Regulators Nosignificant or Courts or Tribunals during the year which may impact the Going Concern Status of the Companys future operations.

Whistle Blower Policy/Vigil Mechanism

To create enduring value for all stakeholders and ensure the highest level of honesty, integrity and ethical behavior in all its operations, the Company has formulated a Vigil Mechanism named as ‘SPARC Whistle Blower Policy in addition to the existing Code of Conduct that governs the actions of its employees. This Policy aspires to encourage all employees to report suspected or actual occurrence of illegal, unethical or inappropriate events (behaviors or practices) that affect Companys interest / image.

The Policy is available on the website of the Company www. sparc.life and may be accessed through the web link https:// www.sparc.life/policies-and-codes.

Directors Responsibility Statement

Pursuant to the requirements under section 134(5) read with section 134(3) (c) of the Companies Act, 2013, with respect to Directors Responsibility Statement, it is hereby confirmed that:

a) in the preparation of the annual accounts for the financial year ended 31st March, 2020, the applicable accounting standards have been followed along with proper explanation relating to material departures;

b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2020 and of the loss of the Company for the year ended on that date;

c) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) the Directors have prepared the annual accounts on a going concern basis; and

e) the Directors have laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively.

f) the Directors have devised proper systems to ensure compliance with the provisions of all applicable laws and such systems are adequate and operating effectively.

Acknowledgements

Your Directors wish to thank all stakeholders, business partners, Companys bankers, medical professionals and business associates for their continued support and valuable co-operation. The Directors also wish to express their gratitude to investors for the faith that they continue to repose in the Company.

FORM MGT-9

EXTRACT OF ANNUAL RETURN as on the financial year ended 31.03.2020

Pursuant to section 92(3) o f the Companies Act, 2013 and rule 12(1) of the Companies ( Management and Administration) Rules, 2014

I. REGISTRATION AND OTHER DETAILS:

i) CIN: L73100GJ2006PLC047837
ii) Registration date: 1-Mar-06
iii) Name of the Company: Sun Pharma Advanced Research Company Limited
iv) Category/ Sub-category of the Company: Company Limited By Shares
v) Address of the Registered Office and Contact details: SPARC, Akota Road, Akota, Vadodara 390020, Gujarat
Tel no: + 91 265 2330815
vi) Whether listed company: Yes
vii) Name, Address, and Contact details of Registrar and Link Intime India Pvt. Ltd.
Transfer Agent: C 101, 247 Park, L B S Marg, Vikhroli West,
Mumbai 400 083
Tel no: + 91 22 4918 6000

II PRINCIPAL BUSINESS ACTIVITY OF THE COMPANY

All the business activities contributing 10% or more of the total turnover of the company:

Name and Description of main products/services NIC code of the Product/ Service % to total turnover of the Company
1 Research and experimental development on natural sciences and engineering (Pharmacy) M 72 72100 100%

III PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Name and Address of the Company CIN/GLN Holding/ Subsidiary/ Associate % of shares held Applicable Section
1 Shanghvi Finance Pvt. Ltd F.P. 145, Ram Mandir Road, Vile Parle East, Mumbai - 400 057 U65910MH1989PTC053111 Holding 52.36% 2 (87) (ii)

IV SHAREHOLDING PATTERN (Equity Share Breakup as percentage of Total Equity)

i) Category-wise shareholding

Category of Shareholders No. of Shares held at the beginning of the year (1st April 2019) No. of Shares held at the end of the year (31st March 2020)
Demat

Physical

Total

% of Total Shares

Demat

Physical

Total

% of Total Shares

% Change during the year

A Promoter*
1) Indian
a) Individual/HUF 35878251

0

35878251

13.69%

35878251

0

35878251

13.69%

0.00%

b) Central Government/ State Government 0

0

0

0.00%

0

0

0

0.00%

0.00%

c) Bodies Corporate 143372857

1200

143374057

54.71%

143372857

1200

143374057

54.71%

0.00%

d) Financial Institutions/ Bank 0

0

0

0.00%

0

0

0

0.00%

0.00%

e) Any other :

0.00%

0.00%

0.00%

Trust 154922

0

154922

0.06%

154922

0

154922

0.06%

0.00%

Sub total (A ) (1 ) 179406030

1200

179407230

68.46%

179406030

1200

179407230

68.46%

0.00%

2) Foreign
a) Individuals (NRIs) 0

0

0

0.00%

0

0

0

0.00%

0.00%

b) Other Individuals 0

0

0

0.00%

0

0

0

0.00%

0.00%

c) Bodies Corporate 0

0

0

0.00%

0

0

0

0.00%

0.00%

d) Financial Institutions/ Bank 0

0

0

0.00%

0

0

0

0.00%

0.00%

e) Any other 0

0

0

0.00%

0

0

0

0.00%

0.00%

Sub total (A) (2) 0

0

0

0.00%

0

0

0

0.00%

0.00%

Total shareholding of Promoter & Promoter group (A)=(A)(1)+(A)(2) 179406030

1200

179407230

68.46%

179406030

1200

179407230

68.46%

0.00%

B Public Shareholding
1) Institutions
a) Mutual Funds 2860831

100

2860931

1.09%

10744

100

10844

0.00%

-1.09%

b) Financial Institutions/ Bank 480903

84

480987

0.18%

794085

84

794169

0.30%

0.12%

c) Central Government/ State Government 0

0

0

0.00%

668

0

668

0.00%

0.00%

d) Venture Capital Funds 0

0

0

0.00%

0

0

0

0.00%

0.00%

e) Insurance Companies 0

0

0

0.00%

0

0

0

0.00%

0.00%

f) FIIs/ FPIs 11712505

1200

11713705

4.47%

8557783

1200

8558983

3.27%

-1.20%

g) Foreign Venture Capital 0

0

0

0.00%

0

0

0

0.00%

0.00%

j) Any other (specify):
Sub total (B) (1) 15054239

1384

15055623

5.75%

9363280

1384

9364664

3.57%

-2.17%

2) Non- Institutions
a) Bodies Corporate
i) Indian 13846416

12426

13858842

5.29%

17014454

11826

17026280

6.50%

1.21%

ii) Overseas 9600

0

9600

0.00%

9600

0

9600

0.00%

0.00%

b) Individuals
i) Individual shareholders holding nominal share capital upto Rs. 1 lakh 25911089

802024

26713113

10.19%

27702574

732566

28435140

10.85%

0.66%

ii) Individual shareholders holding nominal share capital in excess of Rs. 1 lakh

13541630

0

13541630

5.17%

14555136

0

14555136

5.55%

0.39%
c) Others (specify)
i) Non Resident Indians(Repat)

731505

11112

742617

0.28%

700125

10428

710553

0.27%

-0.01%
ii) Non Resident Indians(Non-Repat)

323704

0

323704

0.12%

330614

0

330614

0.13%

0.00%
iv) Clearing Member

497499

0

497499

0.19%

419962

0

419962

0.16%

-0.03%
v) Trusts

10320070

0

10320070

3.94%

10318890

0

10318890

3.94%

0.00%
ix) Hindu Undivided Family

1480771

0

1480771

0.57%

1466974

0

1466974

0.56%

-0.01%
x) Others (specify)

96807

0

96807

0.04%

2463

0

2463

0.00%

-0.04%
Sub total (B) (2)

66759091

825562

67584653

25.79%

72520792

754820

73275612

27.96%

2.17%
Total Public shareholding (B)= (B)(1)+(B)(2)

81813330

826946

82640276

31.54%

81884072

756204

82640276

31.54%

0.00%
C Shares held by Custodian for GDRs & ADRs (C)

0

0

0

0.00%

0

0

0

0.00%

0.00%
GRAND TOTAL (A)+(B)+(C )

261219360

828146

262047506

100.00%

261290102

757404

262047506

100.00%

0.00%

* includes Promoter Group and Person acting in concert with the Promoter Group

ii) Shareholding of Promoter

Shareholders Name Shareholding at the beginning of the year (1st April 2019) Shareholding at the end of the year (31st March 2020) % change in shareholding during the year
No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares No. of Shares % of total Shares of the company % of Shares Pledged / encumbered to total shares
1 Mr. Dilip S. Shanghvi 28102795 10.72% 0 28102795 10.72% 0 NIL

iii) Change in Promoters Shareholding

Name

Shareholding at the beginning of the year

Date wise Increase / Decrease in Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus / sweat equity etc)

Shareholding -Cumulative/ at the end of the year

No. of shares % of total shares Date* Increase/ (Decrease) in shareholding Reason No. of Shares % of total shares of the Company
1 Mr. Dilip S. Shanghvi 28102795 10.72% - - No change during the year 28102795 10.72%

iv) Shareholding Pattern of # Shareholders (other than Directors, Promoter and Holders of GDRs and ADRs): top ten

Sr. No Name

Shareholding at the beginning of the year

Date wise Increase / Decrease in Share holding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus / sweat equity etc)

Shareholding -Cumulative/ at the end of the year

No. of shares % of total shares Date* Increase/ (Decrease) in shareholding Reason No. of Shares % of total shares of the Company
1 Shanghvi Finance Pvt. Ltd.@ 137211787 52.36% NA 137211787 52.36%
2 Sun Pharmaceutical Industries Key Employees Benefit Trust 10317377 3.94% NA 10317377 3.94%
3 Lakshdeep Investments & Finance Pvt. Ltd. 5080142 1.94% NA 5080142 1.94%
4 Aditya Medisales Pvt. Ltd.@ 4888126 1.87% NA 4888126 1.87%
5 Ms. Raksha Valia@ 4145231 1.58% NA 4145231 1.58%
6 Mr. Vijay Mohanlal Parikh 2469109 0.94% NA 2469109 0.94%
7 Mr. Paresh Mohanlal Parekh 2454424 0.94% NA 2454424 0.94%
8 Mr. Sudhir V. Valia@ 1833951 0.70% NA 1833951 0.70%
9 Gagandeep Credit Capital Private Limited 259000 0.10% 19 Jul 2019 400000 Transfer 659000 0.25%
26 Jul 2019 895000 Transfer 1554000 0.59%
02 Aug 2019 101376 Transfer 1655376 0.63%
09 Aug 2019 3624 Transfer 1659000 0.63%
10 Government Pension Fund Global 1577086 0.60% NA 1577086 0.60%
11# Vanguard Total International Stock Index 1266674 0.48% 26 Apr 2019 (33066.00) Transfer 1233608 0.47%
Fund 02 Aug 2019 65339.00 Transfer 1298947 0.50%
09 Aug 2019 101539.00 Transfer 1400486 0.53%
07 Feb 2020 106624.00 Transfer 1507110 0.58%
12# Vanguard Emerging Markets Stock Index Fund 1104509 0.42% 02 Aug 2019 151590.00 Transfer 1256099 0.48%
13# Axis Bank Limited 113620 0.04% 05 Apr 2019 (19442.00) Transfer 94178 0.04%
12 Apr 2019 6286.00 Transfer 100464 0.04%
19 Apr 2019 47718.00 Transfer 148182 0.06%
26 Apr 2019 (10192.00) Transfer 137990 0.05%
03 May 2019 (9368.00) Transfer 128622 0.05%
10 May 2019 (13346.00) Transfer 115276 0.04%
17 May 2019 (43466.00) Transfer 71810 0.03%
24 May 2019 (560.00) Transfer 71250 0.03%
31 May 2019 36322.00 Transfer 107572 0.04%
07 Jun 2019 (6466.00) Transfer 101106 0.04%
14 Jun 2019 (14563.00) Transfer 86543 0.03%
21 Jun 2019 (6642.00) Transfer 79901 0.03%
29 Jun 2019 (8697.00) Transfer 71204 0.03%
05 Jul 2019 11538.00 Transfer 82742 0.03%
12 Jul 2019 1984.00 Transfer 84726 0.03%
19 Jul 2019 (12169.00) Transfer 72557 0.03%
26 Jul 2019 (5179.00) Transfer 67378 0.03%
02 Aug 2019 1504.00 Transfer 68882 0.03%
09 Aug 2019 (8339.00) Transfer 60543 0.02%
16 Aug 2019 5541.00 Transfer 66084 0.03%
23 Aug 2019 8137.00 Transfer 74221 0.03%
30 Aug 2019 (3362.00) Transfer 70859 0.03%
06 Sep 2019 3355.00 Transfer 74214 0.03%
13 Sep 2019 (2265.00) Transfer 71949 0.03%
20 Sep 2019 (7841.00) Transfer 64108 0.02%
27 Sep 2019 403993.00 Transfer 468101 0.18%
30 Sep 2019 (707.00) Transfer 467394 0.18%
04 Oct 2019 (6064.00) Transfer 461330 0.18%
11 Oct 2019 10104.00 Transfer 471434 0.18%
18 Oct 2019 266.00 Transfer 471700 0.18%
25 Oct 2019 (1867.00) Transfer 469833 0.18%
01 Nov 2019 (2940.00) Transfer 466893 0.18%
08 Nov 2019 4549.00 Transfer 471442 0.18%
15 Nov 2019 (6054.00) Transfer 465388 0.18%
22 Nov 2019 4254.00 Transfer 469642 0.18%
29 Nov 2019 4959.00 Transfer 474601 0.18%
06 Dec 2019 5727.00 Transfer 480328 0.18%
13 Dec 2019 (17996.00) Transfer 462332 0.18%
20 Dec 2019 (4887.00) Transfer 457445 0.17%
27 Dec 2019 (22.00) Transfer 457423 0.17%
31 Dec 2019 (133.00) Transfer 457290 0.17%
03 Jan 2020 24021.00 Transfer 481311 0.18%
10 Jan 2020 15232.00 Transfer 496543 0.19%
17 Jan 2020 (3796.00) Transfer 492747 0.19%
24 Jan 2020 394907.00 Transfer 887654 0.34%
31 Jan 2020 (4109.00) Transfer 883545 0.34%
07 Feb 2020 11351.00 Transfer 894896 0.34%
14 Feb 2020 (13157.00) Transfer 881739 0.34%
21 Feb 2020 908.00 Transfer 882647 0.34%
28 Feb 2020 (2570.00) Transfer 880077 0.34%
06 Mar 2020 (37516.00) Transfer 842561 0.32%
13 Mar 2020 350777.00 Transfer 1193338 0.46%
20 Mar 2020 (9745.00) Transfer 1183593 0.45%
27 Mar 2020 4222.00 Transfer 1187815 0.45%
31 Mar 2020 250.00 Transfer 1188065 0.45%
14# Mr. Sanjay Bhikhalal Valia 979629 0.37% NA 979629 0.37%

Note: Shareholding has been consolidated on the basis of PAN. @ Forming part of promoter group/ person acting in concert.

# Since the particulars of 4 shareholders forming ‘Promoter group entities/persons acting in concert are included herein, the list of top 14 shareholders other than Directors, Promoter and Holders of GDRs and ADR is given.

* Date of download of beneficiary data bythe Company.

v) Shar eholding of Directors and Key Managerial Personnel:

Name

Shareholding at the beginning of the year

Date wise Increase / Decrease in Shareholding during the year specifying the reasons for increase / decrease (e.g. allotment / transfer / bonus / sweat equity etc)

Shareholding -Cumulative/ at the end of the year

No. of shares % of total shares Date Increase/ (Decrease) in shareholding Reason No. of Shares % of total shares of the Company
1 Mr. Dilip S. Shanghvi Chairman & Managing Director 28102795 10.72% NA 28102795 10.72%
2 Mr. Sudhir V. Valia Non-Executive Director 1833951 0.70% NA 1833951 0.70%
3 Dr. T Rajamannar Non-Executive Director 35657 0.01% NA 35657 0.01%
4 Ms. Bhavna Doshi Independent Director - - NA - -
5 Dr. Ferzaan Engineer Independent Director - - NA - -
6 Mr. Mark Simon* Independent Director - - NA - -
7 Mr. Chetan Rajpara CFO 10285 0.00% NA 10285 0.00%
8 Mr. Debashis Dey Company Secretary - - NA - -

* Mr. Mark Simon resigned as an Independent Director with effect from 28.02.2020

v) INDEBTEDNESS

I ndebtedness of the Company including interest outstanding/accrued but not due for payment

( in lakhs)

Secured Loans excluding deposits Unsecured Loans Deposits Total Indebtedness
Indebtedness at the beginning of the financial year
i) P rincipal Amount - 163.57 - 163.57
ii) I nterest due but not paid - -
iii) I nterest accrued but not due - 2.86 - 2.86
Total (i+ii+iii) - 166.43 - 166.43
Change in Indebtedness during the financial year
i) A ddition - 6,000.00 - 6,000.00
ii) R eduction - (54.52) - (54.52)
Net Change (i-ii) - 5,945.48 - 5,945.48
Indebtedness at the end of the financial year
i) P rincipal Amount - 6,109.04 - 6,109.04
ii) I nterest due but not paid - -
iii) I nterest accrued but not due - 1.91 - 1.91
Total (i+ii+iii) - 6,110.95 - 6,110.95

VI) REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A) Remuneration to Managing Director, Whole-time Directors and/or Manager

( in lakhs)

Sr. no. Particulars of Remuneration Mr. Dilip S. Shanghvi Total Amount
Chairman & Managing Director
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act,1961 - -
(b) V alue of perquisites u/s 17(2) of the Income tax Act, 1961 - -
(c) P rofitsin lieu of salary under section 17(3) Income- tax Act, 1961 - -
2 Stock Option - -
3 Sweat Equity - -
4 Commission - -
as a % of profit - -
others (sepcify) - -
5 Others, please specify - -
Total (A) - -
Ceiling as per the Act NA NA

B) Remuneration to other directors:

( in Lakhs)

Sr. no. Particulars of Remuneration

Name of Directors

Total
Ms. Bhavna Doshi Mr. Mark Simon Dr. Ferzaaan Engineer Dr. T Rajamannar Mr. Sudhir V. Valia Amount
1 Independent Directors
i) F ee for attending board committee meetings 6.00 5.70 5.70 17.40
ii) C ommission - - - -
iii) Others, please specify - - - -
Total (1) 6.00 5.70 5.70 17.40
2 Other Non-Executive Directors
i) F ee for attending board committee meetings 2.70 3.90 6.60
ii) C ommission - - -
iii) Others, please specify - - -
Total (2) 2.70 3.90 6.60
Total Managerial Remuneration 6.00 5.70 5.70 2.70 3.90 24.00
(1+2)
Overall Ceiling as per the Act NA

C) REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD

( In Lakhs)

Sr. no. Particulars of Remuneration

Key Managerial Personnel

Mr. Debashis Dey Mr. Chetan Rajpara Total
Company Secretary CFO
1 Gross salary
(a) Salary as per provisions contained in section 17(1) of the Income-tax Act, 1961 (b) Value of perquisites under section 17(2) of the Income Tax Act, 1961 33.63 0.05 150.46 0.97 184.09 1.02
(c) Profits in lieu of salary under section 17(3) of the Income Tax Act, 1961 - - -
2 Stock Option - - -
3 Sweat Equity - - -
4 Commission - - -
- as % of profit - - -
- others (please specify) - - -
5 Others - Performance Bonus - - -
Total 33.68 151.43 185.11

VII PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Companies Act Brief Description Details of Penalty / Punishment/ Compounding fees imposed Authority [RD / NCLT / COURT] Appeal made, if any (give Details)
A. C OMPANY
P enalty NA NA NIL NA NA
Punishment NA NA NIL NA NA
C ompounding NA NA NIL NA NA
B. DIRE CTORS
P enalty NA NA NIL NA NA
P unishment NA NA NIL NA NA
C ompounding NA NA NIL NA NA
C. O THER OFFICERS IN DEFAULT
P enalty NA NA NIL NA NA
P unishment NA NA NIL NA NA
C ompounding NA NA NIL NA NA