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History of Dishman Pharmaceuticals and Chemicals Ltd

We were originally incorporated on June 29, 1983 as Dishman Pharmaceuticals & Chemicals Private Limited, under the Companies Act. Our Comp. became a deemed public Comp. w.e.f. April 1, 1996 & the word 'Private' was deleted on February 17, 1997. Subsequently, on January 1, 1999, we renamed ourselves as Dishman Pharmaceuticals & Chemicals Limited & a fresh certificate of incorporation with the aforesaid name was issued on October 12, 1999. Our registered office is located at Bhadra Raj Chambers, Swastik Cross Road, Navrangpura, Ahmedabad - 380 009. The Comp. was initially incorporated as a private limited Comp. with Mr. Dilip Patel & Mr. J. R. Vyas as the shareholders & with Mr. J. R. Vyas, Mr. R. T. Vyas, Mr. Dilip Patel & Mr. Mahendra K. Patel as directors. This Comp. was dormant till 1989. Thereafter, J. R. Vyas, activated this Comp. & was appointed as the Managing Director of Company.

A. BACKGROUND

Dishman Pharmaceuticals & Chemical Limited [Dishmans] was incorporated as a Pvt. limited Co. in 1983. It became a deemed Public Limited Comp. with effect form 1st April 1996. After obtaining necessary approval the status was converted into a Public limited Comp. with effect form 1st January 1999.

Dishman is engaged in manufacturing & marketing of chemicals such as Quaternary Compounds [Quatss] including Phase Transfer Catalyst [PTCs], Bulk Drug and intermediates & Fine and Specialty Chemicals. The Comp. is recongnised Export house & holding ISO 9002 certificate issued by BVQI, Switzerland.

Dishman has established two wholly owned subsidiaries namely Dishman Europe limited & Dishman Cyprus limited Dishman USA Inc. is Subsidiary of Dishman Cyprus Limited. Dishman Africa [Proprietarys] Limited & Pharma Syn BV are subsidiaries of Dishman Europe Limited. Dishman Holland BV is a step down subsidiary of Pharma Syn BV

The Comp. has also under its fold a Business Center & a Travel Agency operating since the year 1998-99 & the Acc. of both are grouped & consolidated in the Profit and Loss Acc. & Balance Sheet of Dishman Pharmaceuticals & Chemicals Limited.

100% EOU STATUS

Substantial portion of profits of Comp. are exempted from income tax, being profits form undertaking situated at Bavla Unit which is 100% Export Oriented Unit [EOUs] approved by Kandla Free Trade Zone. Under the tax holiday the Comp. can utilize exemption of profits form income taxes for a period of ten consecutive years. The tax benefits are available to the Comp. for its undertaking situated in Bavla till the year 31/03/2010.

2004

-Securities & Exchange Board of India approves for initial public offering [IPOs] for 3,433,400 equity shares of Rs 10 each. the Comp. fixes price at Rs 155-175 per share

-Dishman Pharmaceuticals and Chemicals Ltd has informed that the UK based Wholly Owned Subsidiary of Comp. namely Dishman Europe Ltd has been awarded the prestigious Queen Award for Enterprise for five-fold increase in export earnings for past three years.

-Dishman Pharma has inked deals with a Japanese & East European Comp. for supply of intermediaries

-Dishman Pharma inks securitisation deal with European co

2005

- Dishman Pharmaceuticals and Chemicals Ltd acquires a Manchester UK based Contract Research Company, M/s Synprotec Ltd, through its 100% wholly owned UK based subsidiary Comp. M/s Dishman Europe Ltd.

-Dishman Pharmaceuticals enters into an agreement with NU SCAAN, UK

2006

-Dishman Pharmaceuticals successfully completes US FDA inspection for API Eprosartan Mesylate

2007

-Dishman Pharmaceuticals and Chemicals Ltd has informed that Mr. Divyabhash C Anjaria ceased to be a Director of Company, upon resignation with effect from February 09, 2007 & his resignation has been accepted by Board of Company. Consequent to this, Mr. Divyabhash C Anjaria also ceased to be a member of Audit Committee & Remuneration committee of Company.

- Dishman Pharmaceuticals and Chemicals Ltd [DPCLs] has informed that it has concluded the deal with Solvay Pharmaceuticals BV [Solvays], the Netherlands, for acquiring their fine chemicals, vitamim D & vitamin D analogues business. Earlier, an MOU for this was signed on July 09, 2007. As part of this deal all facilities, people & activities located at Solvay Veenendaal site in the Nether lands & technology, patent & intellectual property rights for fine chemicals, vitamin D & vitamin D analogues business were transferred to Dishman.