29 Apr 2017 | Livemint.com

BSE
NSE
Last Updated: Apr 01, 12:00 AM
Ranbaxy Laboratories Ltd.- (Amalgamation)

BSE

  • 859.90 0.00 (0%)
  • Vol: 308222
  • BSE Code: 500359
  • PREV. CLOSE
    859.90
  • OPEN PRICE
    814.90
  • BID PRICE (QTY.)
    0.00(0)
  • OFFER PRICE (QTY.)
    859.90(10542)

NSE

  • 859.80 0.00 (0%)
  • Vol: 5415702
  • NSE Code: RANBAXY
  • PREV. CLOSE
    859.80
  • OPEN PRICE
    814.70
  • BID PRICE (QTY.)
    0.00(0)
  • OFFER PRICE (QTY.)
    859.80(9924)

Ranbaxy Laboratories Ltd.- (Amalgamation) Accounting Policy

Report on Corporate Governance

1. THE COMPANY'S PHILOSOPHY ON CODE OF CORPORATE GOVERNANCE

In order to ensure sustainable returns to all stakeholders of the business, it is imperative, especially for large organizations, to adopt and follow certain policies, procedures and processes, which together constitute a "Code of Corporate Governance". It is important that such a Code is institutionalized, to ensure transparency, consistency and uniformity of decision making processes and actions. Ranbaxy has always believed in such a "Sound" Code of Corporate Governance, as a tool for highest standards of management and business integrity.

2. BOARD OF DIRECTORS

The Board of Directors of the Company had approved the change of financial year from January - December to April - March effective April 1, 2014. In view of this, the financial year under review was for a period of fifteen months i.e. January 1, 2013 to March 31, 2014. Accordingly, wherever required, the information for the current period of fifteen months has been provided.

3. BOARD MEETINGS

Dates of Board meetings are fixed in advance. Agenda papers are circulated to Directors in advance through a specifically designed portal for the Board of Directors and hard copies are also made available to the Directors.

Meetings and Attendance

During the period of fifteen months, eight Board meetings were held on January 20, February 26, May 3, May 8, August 7 and October 29, 2013, February 5 and March 4, 2014.

Mr. Akihiro Watanabe and Mr. Takashi Shoda attended the Board meeting held on October 29, 2013 through Video-conference.

Mr. Indrajit Banerjee, President & Chief Financial Officer (CFO) is a permanent invitee at the Board meetings.

4. COMMITTEES OF THE BOARD (i) Audit Committee

The Audit Committee has been constituted as per Section 292A of the Companies Act, 1956 and the guidelines set out in the Listing Agreements with the Stock Exchanges. The terms of reference include:-

• Overseeing financial reporting processes.

• Reviewing periodic financial results, financial statements and adequacy of internal control systems.

• Approving internal audit plans and reviewing efficacy of the function.

• Discussion and review of periodic audit reports.

• Discussions with external auditors about the scope of audit including the observations of the auditors.

• Recommend to the Board, appointment of the statutory auditors and fixation of audit fees.

• Reviewing the findings of any internal investigations by the internal auditors into matters where there is suspected fraud or irregularity or a failure of internal control systems of a material nature and reporting the matter to the Board of Directors of the Company.

• Reviewing with the management the performance of statutory and internal auditors.

• To review status of statutory compliance.

• To review the reports of the Whistle Blower mechanism.

• To review:

a. Management discussion and analysis of financial condition and results of operations.

b. Management letters / letters of internal control weaknesses issued by the statutory auditors.

c. Internal audit reports relating to internal control weaknesses.

d. The appointment, removal and terms of remuneration of the Chief Internal Auditor.

Minutes of meetings of the Audit Committee are circulated to members of the Committee, Board and the invitees.

Composition and Attendance

During the period of fifteen months, six meetings of the Audit Committee were held on February 25, May 7, August 6 and October 28, 2013, February 4 and March 4, 2014.

• Attended the meeting held on October 28, 2013 through Video- conference.

Mr. Takashi Shoda and Dr. Kazunori Hirokawa attended all the meetings of the Committee as invitees.

Members of the Audit Committee are financially literate and have held or hold senior positions in reputed organizations. The Chairman of the Audit Committee has accounting and financial management expertise.

The Statutory Auditors, Internal Auditor, Cost Auditor and the CFO are invited to attend and participate at meetings of the Committee.

The Company Secretary acts as the Secretary to the Committee.

The Chairman of the Audit Committee was present at the Annual General Meeting held on May 7, 2013.

(ii) Compensation Committee

The terms of reference of the Committee included :-

• Administration and superintendence of Employee Stock Option Schemes (ESOS).

• Formulation of the detailed terms and conditions of the ESOS.

• Grant of stock options.

• Recommendation for fixation and periodic revision of compensation of the CEO & Managing Director and Executive Directors to the Board for approval, review and approve compensation policy (including performance bonus, incentives, perquisites and benefits) for senior management personnel.

Composition and Attendance

During the period of fifteen months, three meetings of the Compensation Committee were held on January 20 and February 25, 2013 and on February 4, 2014.

Mr. Takashi Shoda and Mr. Akihiro Watanabe attended all the three meetings and Dr. Kazunori Hirokawa attended two meetings of the Compensation Committee as invitees.

Mr. Sandeep Girotra, Senior Vice President & Head — Global Human Resources, participated in all the meetings of the Committee as invitee. Mr. Indrajit Banerjee, President & CFO attended one meeting of the Committee.

Minutes of meetings of the Compensation Committee were circulated to members of the Committee, Board and the invitees.

As explained in (iv) below, the Compensation Committee was dissolved w.e.f. February 5, 2014 and a combined Nomination & Remuneration Committee was constituted.

(iii) Nomination Committee

The terms of reference of Committee included:-

• To identify persons who are qualified to become Directors and who may be appointed in Senior Management — Members of Excom, in accordance with the criteria laid down, recommend to the Board their appointment and removal;

• To carry out evaluation of every Director's performance;

• To formulate the criteria for determining qualifications, positive attributes and independence of a director. No meeting of the Committee was held during the period.

As explained in (iv) below the Nomination Committee was dissolved w.e.f. February 5, 2014 and a combined Nomination & Remuneration Committee was constituted.

(iv) Nomination & Remuneration Committee

The Company had two separate committees i.e. Compensation Committee and Nomination Committee. In view of the provisions of the Companies Act, 2013, the Board of Directors of the Company at their meeting held on February 5, 2014 dissolved the existing Compensation Committee and Nomination Committee and constituted a combined Committee i.e. Nomination & Remuneration Committee.

Terms of Reference of the Committee include:

• Identify persons who are qualified to become Directors and who may be appointed in Senior Management in accordance with the criteria laid down and to recommend to the Board their appointment and removal.

• Formulate the criteria for determining qualifications, positive attributes and independence of a director as well as formulate and recommend to the Board a Remuneration Policy relating to the remuneration for the Directors, Key Managerial Personnel and other employees.

• Evaluate the performance of Non-Executive Directors and recommend to the Board their remuneration.

• Evaluate the performance of Chief Executive Officer, Managing Director, Whole-time Directors and fixation and periodic revision of remuneration to them and direct reports of CEO & Managing Director and fix and revise their remuneration periodically within the framework of the Remuneration Policy of the Company.

• Administration and superintendence of ESOS including grant of stock options from time to time.

The first meeting of the Committee was held on May 8, 2014.

Remuneration Policy

The Remuneration Policy of the Company for managerial personnel is primarily based on the following criteria:

• Performance of the Company, its divisions and units;

• Track record, potential and performance of individual managers; and

• External competitive environment.

Remuneration to Non-Executive Directors

The Company benefits from diverse professional expertise and experience of the Non-Executive Directors as they make valuable contributions at the Board and Committee meetings, review the operations and advise on the major issues and strategy of the Company.

The Shareholders of the Company at the Annual General Meeting (AGM) held on May 8, 2012 unanimously approved the payment of remuneration of Rs. 50 Lacs to each of the Non-Executive Non-Independent Director and Rs.100 Lacs to each of the Non-Executive Independent Director for the years 2011, 2012 and 2013 subject to requisite approval of the Central Government. On the appointment of Dr. Kazunori Hirokawa as Non-Executive Non-Independent Director effective May 9, 2012, the shareholders at the AGM held on May 7, 2013, approved the payment of remuneration of Rs. 32.5 Lacs for the period from May 9, 2012 to December 31, 2012 and Rs. 50 lacs for the financial year 2013 to him.

In view of the loss incurred in the year 2012, the Company applied to the Central Government for payment of remuneration to the Non-Executive Directors. Central Government approved the payment of remuneration of Rs. 48 lacs for the year ended December 31, 2012 to each of the Non-Executive Director.

Details of remuneration and sitting fees paid to the Non-Executive Directors are as under:

As mentioned above, the shareholders of the Company had approved the payment of remuneration to Non-Executive Directors from January-December 2013. However as the Company had changed its financial year to April - March, therefore the financial year under review was for fifteen months. Accordingly the approval of the shareholders is now being sought for payment of remuneration to Non-Executive Directors on a pro-rata basis for the period of three months i.e. January 2014 - March 2014 subject to requisite approval. Further, approval of the shareholders is also being sought for payment of remuneration to the Non-Executive Directors for the year 2014-15.

None of the Non-Executive Director holds any shares in the Company.

(v) Science Committee

The terms of reference of Science Committee include review focus areas of research and monitoring progress on generic development.

Minutes of meeting of the Science Committee are circulated to members of the Committee, Board and the invitees.

Composition and Attendance

During the period of fifteen months, one meeting of the Science Committee was held on October 28, 2013. The composition of the Committee and details of the meeting attended by the members are as under:

Mr. Takashi Shoda (member) and Mr. Akihiro Watanabe (invitee) attended the meeting through Video-conference. Mr. Subodh Deshmukh, Senior Vice President- R&D, attended the meeting of Science Committee as an invitee.

(vi) Shareholders'/ Investors' Grievance and Share Transfer Committee

The Shareholders'/ Investors' Grievance and Share Transfer Committee has been constituted as per the provisions set out in the Listing Agreement. The terms of reference of the Committee include:

• Approve transfers, transmissions, issue of duplicate certificates, transpositions; change of names etc., and to do all such acts, deeds, matters and things as connected therewith.

• Review complaints of the shareholders and action taken by the Company.

Minutes of meetings of the Shareholders'/ Investors' Grievance and Share Transfer Committee are circulated to members of the Committee and the Board.

Composition and Attendance

During the period of fifteen months, five meetings of the Committee were held on January 10, May 16, July 5 and August 29, 2013 and March 5, 2014. Apart from the above meetings, the Committee from time to time through circular resolution approved the matters related to the transfer, transmission etc.

The Company addresses all complaints, suggestions and grievances expeditiously and replies have been sent/issues resolved usually within 15 days except in case of dispute over facts or other legal constraints.

The Company received 15 shareholders' complaints which inter-alia included non-receipt of dividend, annual report, share certificates etc. The complaints were duly attended to and the Company has furnished necessary documents/ information to the shareholders. There are no complaints pending as on March 31, 2014.

The Shareholders'/ Investors' Grievance and Share Transfer Committee reviews complaints received and action taken by the Company in this regard.

No requests for share transfers are pending except those that are disputed or sub-judice. Mr. S.K. Patawari, Company Secretary, is the Compliance Officer of the Company.

(vii)Quality and Integrity Committee

The Quality and Integrity Committee of the Board of Directors was constituted on January 24, 2014. The terms of reference of this Committee include:

• Oversight of the Company's manufacturing and quality operations, systems, organization and their integrity to help assure that resources are appropriate and implementation is timely and thorough.

• Review the structure and process of internal quality audits, plans, findings and updates.

• Review the updates on Consent Decree Management and Application Integrity Policy (AIP).

• Discussion with FDA and other regulatory authorities.

• Review data integrity of R&D.

• Review resources and budget allocations for manufacturing and quality functions and to recommend to the Board for approval.

Composition and Attendance

Two meetings of the Committee were held on February 4 and March 4, 2014.

Apart from the above meetings, the Committee's members and invitees discussed the issues related to quality and integrity through tele/video conference.

Mr. Takashi Shoda, Mr. Rajesh V. Shah and Mr. Akihiro Watanabe, Directors and Mr. Yuki Sato, Member of the Board & Head of Supply Chain, Legal and CSR of Daiichi Sankyo Co., Ltd., attended the meetings of the Committee as invitees. Mr. Lavesh K. Samtani, Vice President & Head-Legal Americas, acts as the Secretary to the Committee.

(viii)Corporate Social Responsibility Committee

The Corporate Social Responsibility Committee of the Board of Directors was constituted on February 5, 2014, in terms of the provisions of the Companies Act, 2013. The terms of reference of the Committee are as under:

• Formulate and recommend to the Board, Corporate Social Responsibility (CSR) Policy of the Company listing out the CSR activities to be undertaken and recommend to the Board Annual Budget for CSR activities of the Company;

• Identify key Social Responsibility issues that may affect the business operations, brand image or reputation of the Company and monitoring system for effective implementation of CSR activities undertaken by the Company and review the implementation status thereof.

• Collaborate with Non-profit Organizations, NGOs, Societies, Government bodies and institutions for undertaking CSR initiatives within the framework of the CSR Policy of the Company.

6. CODE OF CONDUCT

The Code of Conduct for the Directors and Employees of the Company is posted on the website of the Company. Declaration as required under Clause 49 of the Listing Agreement

All Directors and Senior Management personnel of the Company who were in the employment as on March 31, 2014 have affirmed compliance with the provisions of the Ranbaxy Code of Conduct for the 15 months period ended March 31, 2014.

Arun Sawhney

Gurgaon (Haryana) CEO & Managing Director May 1, 2014_

7. Certificate from CEO and CFO

Certificate from CEO and CFO of the Company, for the fifteen months period ended March 31, 2014, forms part of the Annual Report.

8. DISCLOSURES

A. Related Party Transactions

The Company has not entered into any transaction of material nature with the promoters, the Directors or the management, their subsidiaries or relatives etc. that may have any potential conflict with the interests of the Company.

B. Disclosure of Compliances by the Company

During the last three years there has been no instance of non-compliance and no penalties or strictures have been imposed on the Company by the Stock Exchanges or SEBI or any other statutory authorities on matters related to capital markets.

C. Disclosure of Accounting Treatment

There have not been any significant changes in accounting policies during the fifteen months period requiring disclosure in the notes to the financial statements except as mentioned in Note No. 2 (k) of the financial statements with respect to treatment of shares issued to ESOP Trust. The same has been done as per the recent opinion of the Expert Advisory Committee QEAC) of The Institute of Chartered Accountants of India.

D. Risk Management

The Board of Directors is apprised about Risk Management framework, methodology for categorization of risk and mitigation plans.

E. The Company has complied with all the mandatory requirements and has adopted non-mandatory requirements as per details given below:

(1) The Board

The Company maintains the Office of the Chairman at its Corporate Office at Plot No. 90, Sector 32, Gurgaon-122001 (Haryana) and also reimburses the expenses incurred in performance of his duties.

In terms of the provisions of the revised clause 49 of the Listing Agreement (effective from October 1, 2014) read with Companies Act, 2013, Independent Directors shall hold office for a term up to five consecutive years on the Board of a company and shall be eligible for reappointment for another term of up to five consecutive years on passing of a special resolution by the Company.

(2) Nomination and Remuneration Committee

The Company earlier had two separate committees i.e. Compensation Committee and Nomination Committee. In view of the provisions of proposed Companies Act 2013, the Board of Directors of the Company at their meeting held on February 5, 2014 dissolved the Compensation Committee and Nomination Committee and constituted a combined Committee i.e. "Nomination & Remuneration Committee".

(3) Shareholders Rights

The quarterly financial results are published in the newspapers as mentioned under the heading "Means of Communication" at Sl. No. 10 herein below and also displayed on the website of the Company. Press Releases on quarterly results are sent through email to the shareholders.

(4) Audit qualifications

With regard to comments contained in the Auditors' Report, explanations are given below:

(i) The accumulated losses of the Company at the end of the current period are more than fifty percent of its net worth (without adjusting accumulated losses) and the Company incurred cash losses in the current period(Clause x of the Annexure to the Auditors' Report)

The accumulated losses are primarily due to provision created (net of reversal) for settlement with the Department of Justice (DOJ) of the United States of America for resolution of civil and criminal allegations by the DOJ (refer to note 8 of the financial statements) in earlier years. The Company has incurred cash losses during the current period primarily due to US FDA related remediation costs and certain exceptional items including loss on foreign exchange option derivatives and inventory provision/ write off and other costs at Toansa and Mohali plants.

(ii) Short Term funds used for long term purposes (Clause xvii of the Annexure to the Auditors' Report)

The Company had created a provision for settlement (net of reversal during the current period) with the DOJ during the year ended December 31 2011, which is currently reflected as payable of Rs. 29,238.60 million to a subsidiary (refer to note 8 of the financial statements). This has resulted in long-term funds being lower by Rs. 35,175.73 million compared to long-term assets as at 31 March 2014. Accordingly, short term funds of Rs. 35,175.73 million have been used for long-term purposes. The Company expects to overcome the situation in the near future.

(iii) Procedures of physical verification of inventories and maintaining proper records of inventories and fraud reported on the Company (clause (ii)(b), (c) and clause (xxi) of the Annexure to the Auditors' Report)

During the current period, the Company has written-down carrying amount of inventory by Rs. 424 million, consequent to the findings of an exercise carried out by the management in response to certain internal information received by it. The findings primarily concluded intentional incorrect inventory management of certain intermediate products by certain manufacturing unit level staff resulting in yield mismanagement and consequent incorrect higher quantity of inventories. Appropriate actions have been taken by the Company including strengthening of internal controls.

(iv) Slight delay in deposit of statutory dues (clause ix(a) of the Annexure to the Auditors' Report).

In few cases, there was slight delay in depositing small amounts of statutory dues. Requisite corrective actions have been taken.

(5) Training of Board Members

Presentations on business, operations, key markets, strategy, regulatory frameworks, risk assessment & management are made to the Board of Directors from time to time. Further, Directors are updated about the regulatory developments. The Directors also visit the important locations of the Company for understanding and review of the Company's operations.

(6) Mechanism for evaluating Non-Executive Board Members

The Company benefits from diverse professional expertise and experience of Non-Executive Directors. The Directors make contributions at the Board / Committee meetings, review the operations and advise on the major issues and strategy of the Company from time to time. The Company also benefits from the advice of Non-Executive Directors sought by the management on critical issues from time to time. The contributions made and the time devoted by the Non-Executive Directors are recognized by the Company. The Board of Directors at its meeting held on February 5, 2014 constituted a Nomination & Remuneration Committee. The terms of reference of the Nomination Committee & Remuneration Committee inter-alia include evaluation of performance of the Directors.

(7) Whistle Blower Policy

With an objective to further strengthen the process of conducting the business in a fair, transparent and ethical manner, the Company has set up a mechanism of Whistle Blower Policy. This Policy is intended to govern reporting and investigation of allegations on violations of the Code of Conduct of the Company, for which a dedicated email id ombudsperson.whistleblower@ranbaxy.com   has been established. Mr. Akihiro Watanabe, Chairman of the Audit Committee of the Company has been nominated by the Board as Ombudsperson for this purpose. No employee was denied access to the Audit Committee during the period of fifteen months.

9. CORPORATE GOVERNANCE VOLUNTARY GUIDELINES, 2009

In December 2009, the Ministry of Corporate Affairs had issued the Guidelines on the voluntary adoption of Corporate Governance Practices. The Company has endeavored to adopt these Guidelines and follows the Guidelines such as separation of office of Chairman and Managing Director, taking certificate of independence from Independent Directors, constitution of Nomination and Remuneration Committee which determines remuneration policy, providing timely information to Board of Directors for quality decision making, identification of risks, review of internal controls, constitution and functioning of Audit Committee, adoption of Whistle Blower Policy and training to Directors.

10. MEANS OF COMMUNICATION

(a) The Company regularly intimates unaudited as well as audited financial results to the Stock Exchanges immediately after these are taken on record by the Board. These financial results are normally published in the Business Standard/Financial Express, the Punjabi Tribune/ Rozana Spokesman and are displayed on the website of the Company www.ranbaxy.com   Further in compliance of the Listing Agreement, the above information and other communication sent to Stock Exchanges are also uploaded on the websites established by the stock exchanges i.e. <https://www.connect2nse.com/LISTING/> and <http://listing.bseindia.com/>.

In accordance with the Circulars issued by the Ministry of Corporate Affairs on the Green Initiatives and amendment in Clause 32 of the Listing Agreements with the Stock Exchanges, the Company sends Annual Reports and Notice of Annual General Meeting alongwith Proxy Form electronically/ physically. Press Releases on quarterly results and updates on other important developments are sent through email to the shareholders.

The official news releases and the presentations made to the investors/analysts are also displayed on the Company's website.

(b) Management Discussion and Analysis Report forms part of the Report of the Directors.

11. SHAREHOLDER INFORMATION

Annual General Meeting

Date : July 28, 2014 Time : 10.30 A.M.

Venue : The National Institute of Pharmaceutical Education and Research (NIPER), Sector-67, S.A.S. Nagar, (Mohali)- 160 062 (Punjab).

Financial Calendar

Adoption of Quarterly Results for the quarter ending Tentative Schedule

June 30, 2014 3rd /4th week of July,2014

September 30, 2014 3rd/4th week of October 2014

December 31, 2014 3rd /4th week of January, 2015

March 31, 2015 2nd /3rd week of May, 2015

Book Closure Dates

July 19, 2014 to July 28, 2014

(both days inclusive)

LISTING ON STOCK EXCHANGES

The equity shares of the Company as on March 31, 2014 were listed on the Bombay Stock Exchange Ltd. and National Stock Exchange of India Ltd. Global Depository Receipts (GDRs) are listed on the Stock Exchange at Luxembourg.

The Company confirms that it has paid annual listing fees due to the Stock Exchanges for the year 2013-2014.

STOCK CODE

1. The National Stock Exchange of India Ltd. - Ranbaxy

2. Bombay Stock Exchange Ltd. - 359 (Physical) 500359 (Demat)

REGISTRAR AND TRANSFER AGENTS

M/s. Alankit Assignments Ltd. (Alankit), 2E/21, Alankit House, Jhandewalan Extension, New Delhi-110055 is the Registrar and Share Transfer Agent for physical shares of the Company. Alankit is also the depository interface of the Company with both National Securities Depository Ltd. (NSDL) and Central Depository Services (India) Ltd. (CDSL).

However, keeping in view the convenience of shareholders, documents relating to shares will continue to be received by the Company at Corporate Office of the Company at Plot No. 90, Sector 32, Gurgaon-122001 (Haryana) Tel No. 91-124-4135000, Registered Office at A- 41, Industrial Area Phase VIII-A, Sahibzada Ajit Singh Nagar, Mohali - 160 071 (Punjab) and Head Office at 12th Floor, Devika Tower, 6, Nehru Place, New Delhi-110019, Tel. No. 91-11-26237508; email address: secretarial@ranbaxy.com

SHARE TRANSFER SYSTEM

With a view to expedite the process of share transfers, the Board of Directors of the Company has delegated the power of share transfer to some of the Directors with appropriate individual limits. The delegated Director(s) attend(s) to the share transfer formalities once in a fortnight. The shares for transfers received in physical form are transferred expeditiously, provided the documents are complete and the shares under transfer are not under any dispute. The share certificates duly endorsed are returned immediately to shareholders. Confirmation in respect of the requests for dematerialization of shares is sent to the respective depositories i.e. NSDL and CDSL expeditiously.

DEMATERIALISATION OF SHARES

The shares of the Company are in compulsory demat segment and are available for trading in the depository systems of both NSDL and CDSL. As on March 31, 2014, 418,632,746 equity shares of the Company, forming 98.79% of the share capital of the Company, stand dematerialized.

International Securities

Identification Number - INE015A01028

(with NSDL and CDSL)

Liquidity of Shares

The equity shares of the Company are traded on the National Stock Exchange of India Limited and Bombay Stock Exchange Limited.

Outstanding Stock Options

Number of Stock Options outstanding as on March 31, 2014 - 4,566,487

Outstanding GDRs

6,294,081 GDRs representing 6,294,081 equity shares of Rs.5 each constituting 1.49% of the issued, subscribed and paid-up share capital of the Company were outstanding as on March 31, 2014.

Outstanding Unclaimed Shares

Pursuant to the provision of Clause 5A (II) of the Listing Agreements with the Stock Exchanges, the Company during previous year had sent three reminders to those shareholders whose shares were lying unclaimed in the physical form and then transferred the unclaimed shares to the "RANBAXY LABORATORIES LIMITED-UNCLAIMED SHARES SUSPENSE ACCOUNT". The voting rights on these shares shall remain frozen till the rightful owner of such shares, claims these shares. The details of the shares in the said Suspense Account are as under:

Plant Locations of the Company

1. Village Toansa, P.O. Railmajra Distt. Nawansahar- 144533 (Punjab).

2. Industrial Area 3 A.B. Road, Dewas-455 001 Madhya Pradesh.

3. Village Batamandi Tehsil Paonta Sahib-173 025 Distt. Sirmour, (Himachal Pradesh)

4. Plot No. B-2 Madkaim Industrial Estate Ponda, Goa.

5. A-41, Industrial Area Phase VIII-A Sahibzada Ajit Singh Nagar Mohali - 160 071 (Punjab)

6. Village & P.O. Ganguwala Tehsil. Paonta Sahib 173 025, Distt. Sirmour (Himachal Pradesh)

7. Plot No. 1341 & 1342 EPIP-1, Hill Top Industrial Area, Village-Bhatolikalan (Barotiwala) Baddi -174103, (Himachal Pradesh)

8. K-5, 6,7,10 Ghirongi Malanpur Dist. Bhind-477116, (Madhya Pradesh)

Address for Correspondence

Shareholders are requested to contact -

Mr. S.K. Patawari

Company Secretary

Ranbaxy Laboratories Ltd.

Plot No. 90, Sector 32, Gurgaon-122001, Haryana.

Tel.No.: 91-124-4185888, 4135000  Fax No.91-124-4106490 Email address: secretarial@ranbaxy.com