SURYAPHARM

Surya Pharmaceutical Limited has informed the Exchange that as per the audited Balance Sheet of the Company, as considered and approved by the Board of Directors of the Company in its meeting held on the July 20, 2013, the net worth of the Company stands completely eroded. The Company has, in terms of the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), filed a Reference with the Board for Industrial and Financial Reconstruction (BIFR) for being declared a "sick Company" as per the provisions of SICA.

Surya Pharmaceutical Limited has informed the Exchange that with reference to the earlier announcement with respect to approval of restructuring package by Corporate Debt Restructuring Empowered group (CDR-EG), the Company has now informed the Exchange that the master restructuring agreement (MRA) has been executed between the Company and lenders on March 31, 2013. The cut-off date for the CDR package is December 31, 2011. The CDR package envisages reduction in rate of Interest, deferment of payment of interest and principal amount of working capital facilities & term loans after a moratorium

Surya Pharmaceutical Limited has informed the Exchange that the management has decided not to pursue the appeal further against the impugned order dated January 09, 2012 passed by the whole time member of S.E.B.I. for claiming necessary exemption to convert outstanding 27,50,000 Zero Coupon Convertible Share Warrants into equity shares without making open offer under Regulation 3(2) of SEBI (Substantial Acquisition of shares and Takeover) Regulations -2011 and also for extension of Exercisable Date for conversion of the same. Consequently the Outstanding 27,50,000 Zero Coupon Convertible Share

Surya Pharmaceutical Limited has informed the Exchange that :- (1) The State Bank of India as the lead bank of the consortium of bankers of Surya Pharmaceutical Limited has referred the Company for restructuring of its debt to the Corporate Debt Restructuring Cell, Mumbai and the Company has been admitted by CDR Cell with the support of majority of lenders; (2) The Company has received Certificate of Suitability (COS) for Cefalexin Monohydrate from European Directorate for the Quality of Medicines (EDQM), in addition to already approved Cefixime. Further, the Company's Banur Plant has also bee

Surya Pharmaceutical Limited has informed the Exchange vide its letter dated August 18, 2011 regarding Compliance Under Clause 53 of the Listing Agreement.

Surya Pharmaceutical Limited has informed the Exchange that the Company has started commercial production of its Jammu Plant w.e.f. June 24, 2010. At this plant, the Company have created the capacity to manufacture APIs and sterile products as per USFDA norms for catering to Regulated markets like US and Europe.

Surya Pharmaceutical Limited has informed the Exchange that a fire broke out in the Company's Banur plant on the night of January 29, 2010. The loss is yet to be ascertained. However, there is no loss of Life or personal injury to any body . Loss of stock/ property is adequately covered by insurance. Further the Company has also informed that the impact of this fire on loss in revenue or production, if any, yet to be ascertained.